US Bank is giving $75 to open a new account - Mendocino Ave. Santa Rosa

Hi-

About U.S. Bank
U.S. Bancorp (NYSE: USB), based in Minneapolis. with $340 billion in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,085 banking offices in 25 states and 5,053 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.
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They're not local, but perhaps not as evil as Chase, etc.

>>>They're not local, but perhaps not as evil as Chase, etc.

Indeed, they haven't compiled the foul record of some of the others, and when we were with them we got good service. If you want a big bank, go US Bank.

That said, the reason we closed our accounts and moved to a local credit union was that we feel the banking problem isn't in whether there are virtuous characters at the top but how big the whole bloomin' contraption is. They are very very very big, and it's within the power of customers to remove at least one of those "verys" and thereby improve the system as a whole. You can't drive a motorized blue whale down the highway without crowding cars into the ditch.

If they're giving away bucks to open a new account, they clearly see the writing on the wall.

Cheers--
Conrad

Thanks for the info, Barry. Well, we all could use an extra $75 in our pockets and a convenient location is key, but I am wary of cash offers like that designed to rope folks in. The bank's offer may be a response to the recent bloom of folks switching to more local Credit Unions (most operate as cooperatives), an attempt to get more accounts open. My personal experience is that the large corporate banks tend to slip in fees at any opportunity which can easily add up to counter that $75.

Choices choices! Stay aware.

Let's talk about local banking — banks or credit unions. Our money in these banks circulates more-so in the local economy. We're fortunate; we have Exchange Bank and Redwood Credit Union to name two. There are more. Why not bank with them?

I go by the old adage, no such thing as a little pregnant; no such thing as a little lesser evil big bank (US Bank). And I could use the $75 in my pocket, believe me. And I don't want it; I want our (all of us in WACCO community) to know that the millions of dollars that we might have to bank locally is in a local bank, not ANY of the big banks.

Last time I helped elect a president, he is the first black president of the U.S.! Is he big? YES. Is he better? NO. Why not?? Because he promised one thing and delivered quite the opposite. He's with the 1%; I'm with the 99%.

I bank local.

The unsubstantiated and off-topic charge against obama does not belong here. You are welcome to post a new thread in the National Politics category.

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Posted in reply to the post by Butterfly:

Let's talk about local banking — banks or credit unions. Our money in these banks circulates more-so in the local economy. We're fortunate; we have Exchange Bank and Redwood Credit Union to name two. There are more. Why not bank with them?

I go by the old adage, no such thing as a little pregnant; no such thing as a little lesser evil big bank (US Bank). And I could use the $75 in my pocket, believe me. And I don't want it; I want our (all of us in WACCO community) to know that the millions of dollars that we might have to bank locally is in a local bank, not ANY of the big banks.

Last time I helped elect a president, he is the first black president of the U.S.! Is he big? YES. Is he better? NO. Why not?? Because he promised one thing and delivered quite the opposite. He's with the 1%; I'm with the 99%.

I bank local.

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I had a CD with US Bank bank and needed some of the money. Most banks charge 3 or 6 months penalty to do so - at whatever rate of interest the account currently carries - That is fair. US Bank, however, charges some 3 % OF PRINCIPAL instead. At today's interest rates this worked out to some 6 years of interest. I believe this penalty, although stated in the small print, is outrageous and exceeds by far what it costs the bank to give access to savings. Beware with money you might need.

Dear Neighbors,
I have been a member of SF Federal Credit Union in SF for around 25 years ( I lived in SF & worked in public healthcare.) I now also have an account with the Community First Credit Union, as I have retired up here. As soon as I was up here fulltime, I opened that account. I have undoubtedly saved thousands of dollars in fees and fines, atm charges, and checking account addons over all of those years I have been with these 2 credit unions.

I have heard that perhaps I was an idiot for not investing in the various strategies my coworkers signed on to with various pretax schemes thru things offered on my job. As near as I can tell almost all of that retirement "easy money" went bye bye in the various mortage meltdowns and stock market screwups that these "failsafe" investments offered. Many of my coworkers did not only lose their additional interest promised , but a huge portion of their principle as well(.Many of them have said that they may never be able to retire now due to the losses they suffered in those "surefire" pretax retirement accounts.)

And, speaking of principle: what about the PRINCIPLE of investing in your neighbors and your community??? They have the same federal backup as insurance for each account at credit unions, and are very careful to keep the money in the community, and in fact are not allowed to do the idiocy lots of the banks do everyday. Plus, they are so very nice, and I have not experienced any of this sudden : oops , we forgot to mention this new fee or that and penalty for this or that. They are very straight forward, conservative , averse to risky "pie in the sky" ways of managing the money they get into our accounts. I only wish I had known of them earlier. I could have saved myself countless years of frustrating fury , aggravation, &arguments with the various banks I used over the years before I found out about credit unions.

I have had FREE checking for all the years of my credit union membership, zero ATM fees, safe steady interest on my savings that I have never worried about or lost, and pleasant , helpful, polite service by folks in my community helping the folks in my community.If you are with some bank or other, can you say that? I doubt it. Join your fellow 99%, and leave those greedy 1% self serving banks and bankers behind!! Occupy your community !

Peace, Christmas