Conference 7.286::digital

reply to < Note 634.0 by CIVIC::FERRIGNO >

>                            -< Credit Union logic >-
>
>    THEN -- I opened up a statement from the Digital Credit Union. 
>    I have a very small amount of money in my account -- all I can afford,
>    and would gladly deposit more if I could, but . . .  The statement
>    informed me that they were charging me a fee (nearly 10%) for what
>    they termed a "service charge -- inactive account".  
>    
>    Now, really.  Digital has been using my money, it's essentially
>    been just sitting there, I haven't made any demands on the system
>    in any way -- I never heard of such a thing!  If I deposit money
>    in the bank, and let it sit there, it just earns interest.  

    First off DIGITAL EQUIPMENT CORPORATION is not affiliated with DCU, DCU
    is a credit union set up by the Employess for the Employees, DEC has no
    access to this money that I'm aware off, they are  just  nice enough to
    donate equipment etc.
    
>    Of course, none of this was ever explained, nor can I find written
>    documentation of it ANYWHERE, including the Benefits Book. 

    Becouase of above, DIGITAL is not affiliated with it, hence it's not in
    the benifits book.
        
>    What a rip-off.  Needless to say, I'll be withdrawing the balance
>    (minus the "service charge -- inactive account") pronto.
    
    Before you get to hot  off the collar, a lot of banks and credit unions
    are doing this (not just DCU)  normally the only one exempted from this
    are the Elderly and Children.
    
    Claude

    I agree with you that this 10% charge for "account inactivity" is
    one of the biggest ripoffs that's been inflicted on the American
    consumer since the banks thought of holding deposits for two weeks
    so they could use the money interest-free.  But .-1 is right: DCU
    is entering the game late; most banks, S&L's, and credit unions have
    been doing this for quite a while.  I have talked to many other
    people who were totally surprised by it also -- apparently the banks
    figure if they warn you they're going to do it, you'll move your
    money and they won't get their gouge.  So not announcing it seems
    to be the norm.
    
    							Pat

    There is a DCU notes file for those who may be interested.
    
Digital Credit Union		BEIRUT::DCU				 1237
    
    Hit KP7 or Select to add to your notebook.
    
    				Alfred

        Because this topic is DCU-specific, and because the DCU is
        *not* Digital, please carry out any further discussion of the
        DCU in the BEIRUT::DCU conference.
        
        Tom
        co-moderator

    re:-1
    
    I beg to differ...if there were no DIGITAL there'd be no DCU.It
    is *indeed* appropriate for someone to gripe about one of our
    "benefits" in this notesfile.
    BTW: I no longer do business with them either.

           The DCU is *not* a benifit in the real meaning of the word.
            This conference is *not* the place to complain about it.
             This topic is writelocked. Disagreements about this should
               be handled by mail.

                         Alfred