Conference 7.286::dcu

        Nope! Deposit $1.00 this quarter. Withdraw your $1.01 the next
        quarter. Then put it back...

    re .0
    
    I was trying to figure out how this was going to work.
    
    I thought that they may charge $2.50 after the 4th quarter of no
    activity, then another $2.50 after the 5th quarter.  If that's true,
    then the $5 would be gone by 15 months.  Course, you'd still have the
    interest!  8-)
    
    I think the line that caught my attention on the Fee Schedule, "FEES
    ARE SUBJECT TO CHANGE".  Boy, they got that right!  The last fee
    schedule was effective May 1991.  The new fee schedule is effective
    September 1991!
    
    There's a fee under the ATM section, "ATM services with savings account
    only ... $1.00 per month".  Is this a new fee?  It was not on the
    May schedule.  Maybe this was for those who choose to close out the
    checking account, but use ATMs.  DCU can still charge you a fee!

    
    RE: .1
    
    I love it!  But even better, withdraw the interest every quarter and
    leave the $5 there.  Gee, I wonder if they will just increase a "share"
    from $5 to $100?
    
    RE: .2
    
    Yes, another charge to encourage members to use more costly teller
    resources and inconvenience members.  This one looks like a starter
    fee.  It's insignificant now but I'll bet this charge is $5 a
    month on the next "Schedule of Fees".	

    
    I have a wierd situation.  I tried to close all my accounts.  I wasn't
    allowed because I have an outstanding DCU VISA balance.  I guess I have
    to have my $5 share account until I pay off my VISA.  I asked if I
    would get an inactive account charge.  I was told that I wouldn't
    because I was making payments to VISA.  I hope that's true - maybe
    someone can enlighten me more.  I guess its only $5, though; at least
    they don't have my thousands anymore.
    
    - Sean

       I think $5 is 1 'share'. If you use any of the DCU's 'services' you
    have to be a shareholder. I have a stock loan and will also have to
    keep $5 in Savings until it's paid off. I can't really arhue with this
    policy. I never heard of a CU that didn't require you to have some kind
    of account in order to get a loan. I didn't realize they required it
    for VISA though. Never heard of that one. I have a MasterCard from a
    bank in Ark. and they don't require a cent in any other account.
                                Denny

Just get another VISA card from some other bank, transfer the balance of the
old card to the new card, get rid of the old VISA account, and you can then
wash your hands of the DCU...

-Glenn-

    
    The $5 share is required because credit unions are not banks.  Or
    at least they're not supposed to be.
    
    As for closing ALL your accouts, PLEASE DON'T!  Keep that $5 share
    account open.  This credit union isn't dead yet, trust me.  There are
    many who have not given up the credit union spirit.  I ask that you do
    not give it up yet either.  We are NOT powerless.  Stay tuned to this
    station, "Voice of DCU".  ;-)
    

Re. .4

    > I have a wierd situation.  I tried to close all my accounts.  I wasn't
    > allowed because I have an outstanding DCU VISA balance.

	.....

    > I guess its only $5, though; at least they don't have my thousands 
    > anymore.

If you had thousands there before, how come you have an outstanding Visa 
balance?
    

    I have a Visa card with another CU (my father's employer and where I
    took out my student loans).  I was going to close the account at one
    time too since MA takes an extra chunk of tax for using an out of state
    bank.  They told me that I couldn't close the account completely
    because of the loans and the Visa.  I've stuck with them even though
    they have sold my loans because the Visa is one of the best deals I've
    come across.
    
    And thank you all who leave their $5 inactive account.  Keep driving up
    those costs for those of us who really want to use the DCU.

    
    RE: .9
    
>    And thank you all who leave their $5 inactive account.  Keep driving up
>    those costs for those of us who really want to use the DCU.
    
    	No need to thank the members.  Thank DCU for REQUIRING it.  Also
    thank DCU for offering their "shop around" advise to all the DCU members
    who have closed their other very active accounts that contained the
    bulk of their deposits.  But according to DCU, they just have TOO MUCH
    MONEY in deposits!  So many members are doing exactly what DCU wants.
    
    But retain your membership and VOTING rights!  Hang in there DCU *OWNERS*.  
    The $5 accounts shall rise again!
    

    
� If you had thousands there before, how come you have an outstanding Visa 
� balance?
    
    I knew someone would ask this. :^)  The Visa debt was pretty large,
    incurred through no other choice.  I always put money into an "saving
    for a house account."  While I realize I pay more interest on Visa than
    I get from savings, I want a house.  The main reason I can't get a
    house is not because of that debt and not because of income qualification,
    but because I don't have the down payment.  I long ago decided to pay
    off the Visa slowly, because I want the house down-payment more than
    I want to get rid of my debt.  That's the thousands I took out.
    
    re. $5 voting rights:  yeah, I agree, I ought to keep it, but at the
        time I didn't want to have to remember to "activate" the account
        once a quarter.  I still plan to keep abreast of DCU issues, so
        I guess I'll keep my voting rights, too.
    
    re. Transferring Visa balances.  Is this easy to do, or do I have
        to take a cash-advance (and the hefty transcation fees associated
        with it)?
    
    - Sean

    re: .11
    
>    re. $5 voting rights:  yeah, I agree, I ought to keep it, but at the
>        time I didn't want to have to remember to "activate" the account
>        once a quarter.  
    
    Unless I missed something, you don't have to.  You have to keep the
    account active at least once per YEAR, or you get socked with a $2.50
    quarterly charge.  So, if you withdraw your interest once every three
    quarters or so, you shouldn't have a problem.
    
    -- Russ

�    But retain your membership and VOTING rights!  Hang in there DCU *OWNERS*.  
�    The $5 accounts shall rise again!
    
    Oh, I get it.  Don't use DCU, but make sure you have a say in how
    others use it.

>�    But retain your membership and VOTING rights!  Hang in there DCU *OWNERS*.  
>�    The $5 accounts shall rise again!
    
>    Oh, I get it.  Don't use DCU, but make sure you have a say in how
>    others use it.
    
    Its called the American Way...

re .13:
>    Oh, I get it.  Don't use DCU, but make sure you have a say in how
>    others use it.

If you'd stop to read some of the other notes, you'll realize that these
are people who WANT to use the DCU, but currently can't tolerate the way
it is run.  Sort of like refugees from a repressive government, who plan
to come back to their native country if the rascals can be thrown out.
Nobody who is genunienly uninterested in using the DCU would leave $5 in
a shares account.  Nor do I believe that maintaining inactive accounts 
costs the DCU more than 2% of their $2.50 per quarter punitive charge.

	Larry Seiler

>                   Nor do I believe that maintaining inactive accounts 
>costs the DCU more than 2% of their $2.50 per quarter punitive charge.

Let's see.  Two percent of $2.50 is $.05.  How do you mail out three
statements for a nickel?

           <<< Note 275.14 by STAR::BUDA "Lighting fuses as I go" >>>

>�    But retain your membership and VOTING rights!  Hang in there DCU *OWNERS*.  
>�    The $5 accounts shall rise again!
    
>    Oh, I get it.  Don't use DCU, but make sure you have a say in how
>    others use it.
    
>>    Its called the American Way...

    Excuse me, but *DCU* is telling it's members not to use DCU.  DCU members
    didn't create this multiple fiasco.  They have had it thrust upon them
    and have found 'choices' other than those given to them by DCU.
    Personally, I am sickened by the entire mess.
    
    What I'm saying is retain enough "ownership" to effect change.  I would 
    venture to say many DCU members probably didn't value their voting rights
    as much as they do right now.  What I'm also saying is that those voting
    rights can return this credit union back into a REAL credit union that DEC
    employees will run to, instead of away from.
    
    So again, don't be chased away.  Stay around and get involved.  Many of
    DCU's problems can be solved or begin to be solved with a simple vote. 
    Apathy will be the death of DCU.
    
    

    
    RE: .16
    
>                   Nor do I believe that maintaining inactive accounts 
>costs the DCU more than 2% of their $2.50 per quarter punitive charge.
>>
>>Let's see.  Two percent of $2.50 is $.05.  How do you mail out three
>>statements for a nickel?

    Statements go out once a quarter to share accounts.  They only go out
    monthly if you have a share draft account.
    
    But this is all noise obscuring very real and large problems with DCU. 
    If a $400 million dollar institution is worried about the cost of a
    stamp instead of the potential business a customer will bring them,
    then they should go back to Business 101.
    
    DCU members have been VERY loyal.  Yet their loyalty hasn't been
    recipricated in many cases.  It's been abused in many cases.  It's 
    time to change this.
    

    
    
    Putting my moderating hat on (I don't do it too often).
    
    I'd like to caution people about getting too involved or to
    interrogative, or inquisitive about other noters personal
    finances/affairs. Please stick to the subject at hand without trying to
    inquire on why someone have so much in their savings or not paying
    their visa balances, or loans..on and on..
    
    I think we get the idea..right..?
    
    Nisreen 

    Transferring  balances from one Visa (or MC) account to another should
    be relatively easy.  I remember those VISA drafts that we received a year or
    so back.  I wrote one to transfer some money from another MC (at a
    higher rate) to DCU's visa...which at the time was a lower annual
    interest rate.

       If you have cancelled your checking account but still have a savings
    account, WATCH OUT. I tried using my DCU ATM card at Leominster CU last
    night. It 'ate' the card'. I found out this morning that I must have a
    Savings only card now. 
                                      Denny

    
      Beware also that there is a $1/mo fee for simply _having_  a
    "savings only"  ATM card.
    
    
    						-al
    

    
    RE: .21 & .22
    
    And thank you for contributing to the DCU loan bailout fund...  8-)
    
    
    
    DCU's announcement that the fees were being postponed meant that ONLY
    the monthly fees on checking accounts was postponed.  ALL other fee
    increases and changes are going through, on schedule.
    
    Guess the author of the "The fees are dead" note should change the
    title to "The fees: some here now, some here later".  Come to the
    special meeting and this can truly be changed to "The fees ARE dead."
    DCU will not do this on their own or under the direction of the current
    BoD.  YOU can make it happen with agenda item #1!
    

RE: Savings only card - 
	If I still have my checking account (I know, but don't beat on me too 
	bad) can I use that card to access my savings account (bypassing the 
	1/month fee)

Brian

�	If I still have my checking account (I know, but don't beat on me too 
�	bad) can I use that card to access my savings account (bypassing the 
�	1/month fee)
    
    Yes

Yes, another cost-saving measure by DCU that backfired.  When I found out that
the fees had been postponed, I went in to get a DCU card again for my savings
account.  I found out that it would be a $1/month fee.  But what they did was
reopen my checking account, print me a free box of checks that I told them I'd
never use, and send me new cards.  This way, when the fees come back, I've got
more checks to throw out.  But at least I get a free card.

j.

>    Guess the author of the "The fees are dead" note should change the
>    title to "The fees: some here now, some here later".  
    
    I've changed it to "Checking account fees are dead (for now)".
    Will that do?
    
    Bob

    
    RE: .27
    
    I think it more accurately reflects reality.  It will only be "dead"
    when we all show up to the special meeting and vote to kill it,
    PERMANENTLY.