So Much For Leaving Bank of America...

[rsmith6621]

.... I applied for membership to a local credit union and was denied based on the fact I filed BK in 2004 and paid it off in 2008..they said I was to much of a risk to open an account. I made the case in my 10+ year relationship with BoA I have not had a bounced check or an overdraft,I never have had a less than zero balance.

It wont do me any good to go to other CU's because they all use the same standards... I was told wait til I get 10 years behind the BK and try again.... I ask them to identify a risk I would be to them,they could not. I then said you and other credit union in the grand scheme of things are no different than the BIG BANKS.....

FRUSTRATED.

[Vincardog]

1. Then go to a small local bank

[tosh]

2. Yes.

[redqueen]

8. +1

[gratuitous]

3. So you won't be going with the crowd

You'll be leaving Bank of America soon enough, and who's to say credit unions won't change their rules in the meantime?

[Laluchacontinua]

4. Not sure they all use the same standards. A lot of CUs run by public employees or workers'

groups -- if you're in their membership you can be in their CU (or are a family member, or live in the community etc.)

I belong to two CUs. They didn't investigate my financial history to join.

[MADem]

5. What were you looking for--checking w/a line of credit?

What if you just wanted a savings account and a debit card?

[rsmith6621]

10. Just a basic checking and savings account

...no auto loan or mortgage.....no line of credit. Just want divorce BoA NOW!

[madinmaryland]

15. I had a similar situation...

I did open a savings account, but with no debit card. I have used it for five years or so as my wife's little stash account direct depositing a small amount every paycheck.

[Fire Walk With Me]

6. Dang :( Keep trying, you're on the right path!

[villager]

7. Strange -- doesn't remotely make sense unless you actually applying for "credit"

..though even then it's worth noting how easily corporations get credit after a bankruptcy to "reorganize..."

Point is, if you just want to put in actual money, for an account based on how much actual money is there, what possible risk do they imagine you being?

[RebelOne]

9. Well, I guess your experience would also apply to me.

I am a Bank of America customer, and I filed a Chapter 13 a few years ago. It has been paid off for awhile now. So, I guess I will just stay with BoA. I have always been satisfied with their service anyway.

[haele]

11. Some local unafiliated credit unions are like that. But credit unions afliated with an organization

Teachers, military, medical field, union members, farmers, retirees, etc., will usually take members that fall into that particular organization. If you can't find a credit union that will take you, try a small or local bank that has been around for a while, one where the ownership is stable.

Good luck.

Haele

[HereSince1628]

12. I hear you. I was also denied opening accounts with banks and credit unions

In short order in 2009 I was out of work, hospitalized, had open heart surgery.

Getting out of the hospital, I moved in with a friend. That made my bank's location very inconvenient, being ~50-60 miles away. I tried to open an account to deal with the obvious distance problem and I found that couldn't. I had several 10's of thousands of dollars in the distant account that I wanted to close (rural bank with 3 branch offices), I thought opening an account would be no problem. Silly me.

[crim son]

13. Interesting. I opened an account not at a CU but at the small, local

Bangor Savings Bank. They didn't look at my financial history. In fact, both my teenagers were allowed to open accounts there too, no questions asked. Definitely don't give up!

[closeupready]

14. That's what I've been trying to point out. Many here simplistically just link to

'findacreditunion.org' or some other such website, but it doesn't help you set up an account if the membership requirements are more restrictive than the big banks! But what do I know...

[mysuzuki2]

16. I did a chapter 13 a couple of years ago. I had no problem

opening an account. They were happy to have me. Try some other CU. Don't give up. .