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Our Story September 11, 2019

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There is a new type of fraud on the rise called a Port-Out Scam. Learn... Read More August 30, 2019
We will be closed this Saturday through Monday in observance of Labor Day. Most transactions... Read More August 30, 2019
The Northwest Branch’s drive-up ATM is down and unfortunately will not be able to be... Read More August 29, 2019
Who’s going to the rib cook off this weekend?? Read More August 29, 2019
Explore The Credit Union Difference and the Great Basin Difference https://www.greatbasin.org/16949/ive-learned-working-credit-union/What I’ve Learned from Working... Read More August 29, 2019

What You’d Expect From a Credit Union

Summers have a way of getting away and I noticed I haven’t written in a while. I know you have been waiting patiently.

Most recently we’ve been the recipients of another wave of new members from our friends at B of A with their announcement of their new Debit Card fee. The last wave was from Wells Fargo for the same reason. The recent limits put on debit card transaction fees at large banks by the Federal Reserve have the banks scrambling to keep their bonus checks coming.

I’ll also be watching to see if the big retailers pass on their savings to the public or pocket the 50% reduction in costs estimated to be billions of dollars; not that I’m skeptical, but …really?

At the credit union we will continue to monitor the debit card developments over the next couple of years to see if there is any impact on the credit union. As a not-for-profit cooperative we will avoid impacting our members with any additional fees or increases. As a matter of fact, we continue to encourage newbies to join our other members who avoid most fees through our CORE account program. This has been one of our most successful programs and it’s there to reward and protect the members who use us the most.

I’m glad to share with you that the credit union continues to be strong, and we are offering some incredible loan rates to members with additional rate savings to CORE members. Why would anyone pay big banker fees when they can belong to a cooperative credit union designed to minimize fees to its members?

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2 Responses to What You’d Expect From a Credit Union

  1. This is why I came to Great Basin Federal Credit Union, I was with a Bank that was going to start this and I only use my debit card to do purchases, so I am so happy that Great Basin will not be charging us a fee as of right now and they will be doing research on it .

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