Wescom Credit Union review

For those of you considering dumping your commercial bank today, here is a quick overview of my experience with Wescom Credit Union.

Frustrated by the commercial banking industry’s home loan fiasco, I cancelled my Wells Fargo account and switched to Wescom Credit Union. Wescom membership is available to anyone who lives, works, or goes to school in Southern California. Having used the credit union for about two years now, I’m glad I made the switch. The in-person and phone service is good and I appreciate having my money at a local institution versus an international bank. All credit unions are part of an ATM network, allowing withdrawals across institutions. Imagine that!… financial institutions working together! Compared to a mega-bank like Chase, there are still fewer total ATMs, but once I learned a few key ATM locations, this has not been a burden for me. My debit card works through the Visa system so there was no change in making purchases by card. I lost my card once and Wescom quickly sent me a replacement. It was surprisingly hassle-free.

The switch was frustrating initially because checks I had deposited took longer than expected to clear and I overdrafted the account. And even now with the transition complete, I’m not sure that a credit union is the perfect solution to my fundamental concerns about capitalism and consumerism. Credit unions are still fractional-reserve institutions and make interest-bearing loans. But while it’s not as revolutionary as I might want, Wescom has been a good step up from Wells Fargo.

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