Conference 7.286::dcu

I too received my MetPay dividend the other day.  It came in check
form, with a letter from Metropolitan explaining why I was receiving
the money.  To paraphrase, the letter explained that since claims
were below budget for the year, they were able to do this.

Of course, with the dividend came an advertisement reminding me that
besides dividends, Metropolitan also offered all manner of services
that I wasn't using, and that I should get in touch or stop by for
an insurance checkup, etc.

Now, I'm certain that detractors will be quick to point out that 
Metropolitan is an insurance company, and that DCU is a credit union,
and that it's unfair to compare apples to oranges.  However, I see
many parallels here that seem worth discussing.

MetPay rewards its participants for a job well done.  We don't have
many accidents, they don't pay as much in claims, we get what essentially
is a premium rebate for being good drivers.  

DCU rewards its owners for two solid years of record earnings by implementing 
fees on basic services, and instituting a relationship plan such that more
than half the membership doesn't even qualify.

You gotta wonder...

Chris

I have been wondering about bonus dividends for a long time.  Two years ago when
I received my MetPay dividend check, my husband's eyes lit up, and he said "How
do I sign up?"  We now have all our insurance through MetPay, and as a result,
our dividend check was over $200 this year.  In Massachusetts, where the auto
insurance rates are set by the State, there are two things that distinguish one
insurance company from another: Service, and Dividends.

I can't get my husband, nor his children, to join DCU.  A new hire in our
group looked at me funny when I asked if he belonged to DCU.  He couldn't see
why he should, and I couldn't think of reasons to convince him otherwise.  I
could run a parallel by saying:

In a banking industry where interest rates are set by the prevailing market,
there are two things that distinguish one banking institution from another:
Service, and Dividends.

Think about it, DCU.

Elaine

    ref 809.2 You have quite accurately wacked the nail right on the head.
    When I found out Metpay was offering dividends. I moved all of our
    insurance needs to Metpay. The only thing that keeps me using the DCU,
    quite frankly, is the convience of the ATM. 
    Joel

    
    I've seaid it before, and I'll say it again: dividends are what brought
    me to DCU.
    

I deposited my dividend check (which was _totally_ unexpected, as I just
joined Metpay in '93) in my savings account at DCU yesterday AM. The
teller mentioned that she was "seeing a lot of these this week". I related
how I'd only joined Metpay recently and how pleased I was with the dividend
since the rates and coverage were better than with the brokerage I'd been using
for the previous 16 years. She said she wondered if she could switch _her_
insurance coverage over to Metpay to get a deal like that.

All in all, I thought it a pleasant conversation, as I stood there with
my bright red "Real Choices" button on.

-Jack

    
    MetPay obviously has very dangerous people running it that are hell
    bent on destroying the company.  They just don't understand the complex
    business environment out there.  This sort of crazy business approach
    just isn't done any more.  Don't they realize how unfair they are being
    to their customers?
    
    
    
    Hey, don't laugh!  This is essentially what we're expected to
    believe.
    

    re .6, I'm glad we are striving to keep the emotionalism out of here.

    
    Re .7:
    
    You imply that .6 waxes emotional.
    
    .6 is a metaphor (and a deadly accurate one at that). Any "emotionalism"
    implied in .6 is a direct reflection of the content-poor, emotion-rich
    hyperbole with which DCU management has attempted to cloud the real issues.
    

    I have my insurance with Metpay. My previous company was AMICA
    Mutual Insurance company.  I switch to AMICA because the rates were
    about 33% less.
    
    In the 10/93 Consumer Reports (page 631), 24 insurance companies
    were rated. AMICA was top rated. Metpay was next to last in terms
    of overall satisfaction.
    
    Personally I have had small claims with both companies and have
    satisfied with both companies.  I do know of one noter in the DCU
    notesfile who switched from Metpay to AMICA.
    
    
    Gim
    
    

    I've never had a problem with claims through Metpay. And I've had a
    few, both auto and home, a few small and a couple large ones. I've
    never done any shopping around for a better deal though (same reason I
    stay with the DEFCU: it's convienient).
    
    -Glenn-

    
    Just one data point, but I had to file a claim with MetPay and found
    them to be very difficult to deal with, and bordering on fraudulent.
    
    Sometimes you get what you pay for...

    
    Just as another vote, I had very good luck with
    a claim through MetPay.  The car was totalled and
    their write-off was 33% higher than the other
    driver's insurance agency's write off.  I think the other driver's 
    insurance was bad... send mail to see who they 
    were.
    
    Amy

    Moderator reminders:

    This is the DCU conference NOT the MetPay conference.

    Be very careful about what you say about companies and individuals in
    Notes. Digital can (and has) gotten into trouble because of things said
    in Notes. General rule: If you can't say something nice, don't say
    anything.

    			Alfred