I've had a bad history with banks.
Many may think it's my relentless refusal to pay for bank fees which provide me no returned value. Many more actually think it's my overarching neediness as a consumer. I think both are appropriate and healthy.
I started with Boatmen's Bank (which became Nation's Bank and finally Bank of America)way back when in grade school. My mother was also on the savings account (and associated ATM). In High School one day I wanted to get some money out for an 'emergency' but they wouldn't let me. Infuriated beyond belief (aghast almost) as I had her signature on the withdrawal slip, I sought out a new bank Bank 10 which was small with only three branches and fit my needs through high school for the most part. They were small enough and respected me. They delivered value if you will for the opportunity to leverage my money.
I have found, through another switch to a Credit Union, that they - more than a Bank ever really would, serve me better. I bank at the Pentagon Federal Credit Union. Credit Unions by default have membership requirements - and this one is easy to get into as you just have to be a member of the American Military Families Association. A huge value they provide is a no fee cash rewards credit card offering 5% cash back on Gasoline when you pay at the pump, 2% cash back on grocery store purchases and 1.5% Cash Back on everything else. The cash back is paid monthly directly to your statement and there is no cap. I have also seen balance transfers to this card at 2.99 percent for the life of the transfer, though I haven't used it as I do not carry credit card balances. If you use this card for all your purchases, you can easily save a significant amount each year.
This is a great reason to join PenFed, but the biggest reason has to be the customer service. When I wanted a car loan - it literally took me only 5 minutes online to get a better rate than I could find anywhere else. They have no gimmicks you have to worry about in the fine print as their goal (as with most all Credit Unions) is to server the account holders first instead of the stockholders and investors first. It has better customer service than anything/anywhere else I do any kind of business. That's saying a lot.
