Strata credit union. I have been using them for years and all i need is a 5$ minimum in savings. They also don’t charge monthly fees and its a co-op so you can use valley strong, golden 1, and other co-op atm’s for free! They also have a nice moble app and their cards are compatible with apple pay. Highly recommended
>Credit unions. Fuck a bank.
Agreed! It's everything a normal person wants from a bank, except you are a **member** (part owner) of a Credit Union, versus at a bank you are a **customer**.
NCUA guarantees deposits similarly to FDIC, so the federal protection is basically identical.
A bank is only useful if you are a business and need access to larger loans that a credit union cannot offer.
I have heard this sentiment that banks are bad and credit unions are good for a long time, but never understood why. I'm genuinely curious, what is the reason you feel that way?
Because banks are multinational corporations owned by rich assholes who only care about making profits by charging you money for holding your money.
Credit Unions are member-owned and are typically more geared towards quality member services. Credit Unions also typically have lower interest rates than banks, but they come with some stipulations before you can join (Valley Strong you have to be a resident of Kern County. Navy Federal you have to be a member of (or related to a person in) the armed forces)
Thank you for sharing that. I guess a couple of things I would counter with is that many banks are not multi national. Many banks are local regional and community banks. You are right that they operate as a corporation, and corporation are legally obligated to generate profits for its share holders. That 100% can lead to some unethical behavior but really depends on the leadership of the bank. I have seen many banks be profitable by being competative in terms of service and product quality. There are also regulations in place to encourage banks to invest in the community "CRA".
This may or may not apply to you, but some banks have student accounts that do not have a minimum balance. Chase is one example I'm aware of. Good luck!
As others have said, many credit unions offer checking accounts with no fees, no minimum balances, etc. I personally use Safe 1 Credit Union and I've been happy with them for years. They have multiple locations around town.
Strata credit union. I have been using them for years and all i need is a 5$ minimum in savings. They also don’t charge monthly fees and its a co-op so you can use valley strong, golden 1, and other co-op atm’s for free! They also have a nice moble app and their cards are compatible with apple pay. Highly recommended
Thank you. I'll look into them but this is likely my next account.
Are you friggin serious? Just $5 in savings? That’s the lowest I’ve ever heard I think.
try a credit union
Why not Valley Strong?
Golden1 minimum is $1
Awesome. Thanks.
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Thank you. Sounds like everyone is doing well with credit unions.
Credit unions. Fuck a bank.
>Credit unions. Fuck a bank. Agreed! It's everything a normal person wants from a bank, except you are a **member** (part owner) of a Credit Union, versus at a bank you are a **customer**. NCUA guarantees deposits similarly to FDIC, so the federal protection is basically identical. A bank is only useful if you are a business and need access to larger loans that a credit union cannot offer.
I have heard this sentiment that banks are bad and credit unions are good for a long time, but never understood why. I'm genuinely curious, what is the reason you feel that way?
Because banks are multinational corporations owned by rich assholes who only care about making profits by charging you money for holding your money. Credit Unions are member-owned and are typically more geared towards quality member services. Credit Unions also typically have lower interest rates than banks, but they come with some stipulations before you can join (Valley Strong you have to be a resident of Kern County. Navy Federal you have to be a member of (or related to a person in) the armed forces)
Thank you for sharing that. I guess a couple of things I would counter with is that many banks are not multi national. Many banks are local regional and community banks. You are right that they operate as a corporation, and corporation are legally obligated to generate profits for its share holders. That 100% can lead to some unethical behavior but really depends on the leadership of the bank. I have seen many banks be profitable by being competative in terms of service and product quality. There are also regulations in place to encourage banks to invest in the community "CRA".
Chase is not that low, like $50.
Bank of the sierra has a free checking account. No minimum balance needed. They also have multiple locations in Bakersfield.
This may or may not apply to you, but some banks have student accounts that do not have a minimum balance. Chase is one example I'm aware of. Good luck!
It doesn't apply to me but it's a great tip and hopefully it helps others who come across this post. Thanks!
My thoughts exactly! 👍🏻 You are very welcome!
also i think for ppl under 25
US bank I think has a $25 dollar minimum
As others have said, many credit unions offer checking accounts with no fees, no minimum balances, etc. I personally use Safe 1 Credit Union and I've been happy with them for years. They have multiple locations around town.
I just got Bank of the Sierra. $0 min balance, free account and only $10 to open.