The Big Banks

Wow! I can't tell you how often I've heard bad things about the big banks (Bank of America, Wells Fargo, Citi, etc). Why do the big banks treat their customers so crappy? I think it may have to do with the fact that they think you're just a number. In reality, you are... just a number to them. You're a bank account number, a social security number, a drivers license number... you're just a number in their system.

My dad once told me about being able to walk into a bank and being greeted by name by the local tellers. Well, partially that was a product of small-town USA! But, there is some truth to having a place where "everyone knows your name" because it was a goode name (pun intended). This is why I would recommend most folks use a local credit union or community bank to do most, if not all, of their banking. Most of these smaller establishments have the ability to work with their brains & hearts where policy & procedures bar a big-box bank from moving.

Not to mention, many of the smaller banks have made less risky loans in the recent past as the capital is less available to them to guarantee such loans. Smaller banks are often more capable of working to the benefit of their customers as many of these banks are actually OWNED BY their customers. The bank president & tellers are all sitting in church with their customers on Sunday... this keeps them in check as they're more responsible for how their business is run.

Also, many of the big-box banks like Bank of America, Wells & Citi are nazis in their collection department. Their collections folks are frequently using intimidation techniques & bullying those in financial hardship. Their collections departments break federal law on a daily basis.

I actually saw a facebook status post from a pastor friend of mine that mentioned that Wells Fargo was being difficult to work with. I don't know exactly what he was talking about, but I will say that it doesn't surprise me.

Word to the wise, pastor: don't do business with them. I'd move EVERY dime I have away from them... I'd move the church's money, too!