March 6, 2006 at 4:07 am (Personal, Random)

This year, my New Year’s Resolution was to never pay another ATM fee. I figured it out once, and in 2003 I averaged between 20 and 30 dollars a month for the mere convenience of cash on demand. And that was with Wawa as a resource (Philly-based convenience store with free ATMs) I think I have set a record for New Year’s Resolutions, because so far this year I have not broken it. Not impressed? Consider this: my credit union owns and operates exactly one ATM, in Harrisburg, Pennsylvania.

How about them apples?



  1. rock creek rambler said,

    Why for the love of god have you not switched to a local or national bank?

  2. JB said,

    They don’t charge me fees for anything, they reimburse me for ATM fees (up to 4 bucks a month), I get much interest on my checking account with no minimum balance, better interest rates savings accounts than I would get from a for-profit bank investing in Exxon and LJM stock, I’ll get great mortgage rates when I decide to buy a house, and I am too lazy to switch.Example: at MegaInvestCoBank LLC, I was getting 0.61% interest on my savings account. When I switched to the credit union in 2001 it increased to 3.25% (although it varies wildly). Last year, that translated to a few hundred dollars extra in interest. And I had a say over where the money was invested. That’s really the biggest reason. You ever actually look at your mutual fund’s prospectus? You should. I would rather have less money than volunteer one penny of it to Halliburton or Exxon. And before anyone asks, yes, I would run out of gas before I would stop at an Exxon or Mobil station, and I don’t consider my massive tax contribution to Halliburton/KBR to be voluntary.

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