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Interesting Comment from Chase Staffer

August 26th, 2009 at 09:32 am

When I went in to close my account at Chase, the staffer (I think she was a manager) asked why, and I replied that it was because of the rate I was earning. She asked me "did you find a better rate at a Credit Union?" Hmm...interesting. Thought I'd share for anyone who has yet to jump on the CU bandwagon.

And just for the record, yes, we moved some of the funds to a CD at a CU, but some went to an MMA at a regular old bank that is paying WAAAAAY more than Chase.

I remember reading comments (probably in WSJ articles) from both Wells Fargo and Chase executives that one of the reasons they took over Wachovia and Wamu respectively was because of their large number of deposit customers. I had accounts with both banks, but when interest rates plummeted post-merger, I closed my accounts and moved on. I wonder how those high-paid executives thought they were going to keep those deposit customers if they didn't keep paying higher than average interest rates? Do they not understand the correlation? Do they think we are idiots who do not check what rate we are earning and comparison shop?

I "Chased what matter" (earnings) all the way to other financial institutions. How about the rest of you former WaMu folks?

3 Responses to “Interesting Comment from Chase Staffer”

  1. Ima saver Says:

    I am staying with my regular bank (local) cause I can not find a better rate any place else. We are getting 1.98%

  2. Joan.of.the.Arch Says:

    Frown My CU went down from 5.01 to 4.01%, and only to 20K on checking accounts. Their CDs are not a great rate.

  3. baselle Says:

    I'm at Chase, and probably will stay because the downtown and the neighborhood branch are convenient, and they bought their way into being everywhere (like near the farmette). All I put into Chase is my paycheck into checking, and a little bit of savings coming from the tip box that I move or have to use every few months. If I have more than $600-700 in savings at Chase, it gets "pulled" into greener pastures by the non-Chase bank.

    Here in Seattle, their billboards and bus placards are seriously annoying.

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