[GPSCC-chat] End banks deathgrip on your money

[Spencer Graves]

Credit unions are officially cooperatives.  However, how many credit 
unions have members who actually exercise effective oversight of the 
senior management? Without that, credit unions can be managed by and for 
the benefit of their senior management, just like private companies.  
After spending a year studying alternatives, my wife and I moved from 
Wells Fargo to Provident in March 2011.  Last year, I asked about their 
member meetings:  They have an obligatory membership meeting once a year 
-- in Los Angeles.  I'd have to work to learn more about how they manage 
things, and I decided (correctly or incorrectly) that I would be better 
off spending my time elsewhere.  Spencer


On 4/13/2014 8:29 AM, John Thielking wrote:
> Drew,
>
> With all due respect I am proof positive that not just anyone can get 
> a checking account with just any credit union. I got turned down by 
> Tech CU because they said I had a "derogatory" Chex Systems report. 
> When I ordered my "report" and score it had very little in it. It had 
> an item for my ordering checks from Chase and an item for my opening 
> an account with Citibank.  Nothing else. Not even a report of my 2 
> overdrafts with Chase. My "score" (which cost me $10 to obtain) was 
> some 760+ out of a possible 999. I hope you are right in that 
> literally anyone can get an account at Meriwest.  I would try them 
> too, but since I'm moving to Eugene in June I'm planning to try to 
> open an account with a local credit union when I get there.  I hope 
> you aren't simply being insulted by my use of the word "bank" when I 
> attempt to make a groundbreaking suggestion about how all online 
> accounts weather at a credit union or a bank can be made inherently 
> secure, instead of the default for the current system of online 
> banking, er, I mean online credit unioning which to the best of my 
> knowledge is inherently insecure. Do you know if your credit union 
> offers you the option to set up your online access to your account so 
> that you can only view your account balance and transaction history 
> and not be able to transfer funds? Is this set up only available by 
> walking into a branch and setting it up (and can't be switched back 
> and forth online between no funds transfer available and funds 
> transfer available?) If they do that, that's great. I would hope to 
> find a CU like that in Eugene. Then I can set all my passwords that I 
> use on the Internet (except for my bitcoin exchange password) to 
> literally be what I have heard on the news is most often used by 
> everyone else, ie "password" or "123456789" and I would never lose a 
> penny due to ID theft online, at least so long as https remains secure 
> and my credit card numbers are safe.. That is what I call an 
> "inherently secure" account. If I can't find a CU that offers that 
> feature for an online account, then my previous comments stand about 
> wanting to do a community project where someone we know (or heaven 
> forbid, us ourselves) programs a new type of User Interface that, if 
> you really insist, only CU's can use so they can knock Banks flat on 
> their asses by stealing all of their customers due to the CU's 
> superior security for the new limited access accounts for online 
> credit unioning.  Let's do this thing and stop bickering over when it 
> is not OK to use the term "bank" in a conversation, or whatever else 
> it was that was ticking you off just now.  You are right! Green is GO! 
> Go get 'em baby!
>
> John Thielking
>
>
> On Sun, Apr 13, 2014 at 7:11 AM, Drew <rainbeaufriend at riseup.net 
> <mailto:rainbeaufriend at riseup.net>> wrote:
>
>     This is not just my "preference" -- banks are designed to be
>     leaches whereas credit unions are designed from the start to
>     provide service to their members. The Occupy Movement realized
>     this fact and thankfully more and more are moving their money away
>     from the capitalist engines of world destruction (ie. banks) to
>     engines of empowering the people.
>
>     No senior in Santa Clara County need be stuck with Comerica since
>     for just one example, Meriwest Credit Union is open to any
>     resident of this county. Credit unions have expanded their
>     coverage this way all over the country so most people are covered
>     and need not fund the capitalist death machine via banks.
>
>     Green is union!
>
>     Drew
>     -- 
>     Sent from my Android device with K-9 Mail. Please excuse my brevity.
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>
>

-- 
Spencer Graves, PE, PhD
President and Chief Technology Officer
Structure Inspection and Monitoring, Inc.
751 Emerson Ct.
San José, CA 95126
ph:  408-655-4567
web:  www.structuremonitoring.com

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