What Credit Unions Don't Want You to Know.
Vložit
- čas přidán 2. 07. 2024
- Join me to learn the Credit Union secrets they don't want you to know. Also I expose the latest get rich quick scams.
Mark's Money Matters was created to help people break their addiction to credit and bring some sanity to their finances. I want to try to reach as many people as I can to answer their questions about getting out of debt so please share your comments and questions here. You can also e-mail me your questions at mark@markmartella.com .
To subscribe to this channel click on the following link: czcams.com/channels/IQo.html...
Mark Martella is a bankruptcy attorney by trade but his goal is to put bankruptcy attorney's out of business through educating consumers about how not to get sucked into the black hole of debt. Mark offers educational videos as well as resources on his website for Money Matters that can be found at www.markmartella.com/
On this website you will also find past episodes of his shows and blog posts.
Mark is also the author of a book on bankruptcy just for consumers entitled "Bankruptcy in Plain English- The Ultimate Layman's Guide to Taking the Fear and Mystery out of the Bankruptcy Process so You Can Get a Fresh Start." It's available on Amazon by clicking on this link:
www.amazon.com/Bankruptcy-Pla...
His other websites with information on bankruptcy and estate planning can be found at:
martellabankruptcy.com/
and
martellalaw.com/
You can also follow him on Facebook by liking these pages:
Mark's Money Matters
/ martella2017
Mark Martella's Legal Notes
/ martellalaw - Zábava
Fast forward to 4:10 for the credit union info
Thanks...was wondering when he would get to the point
They Removed 17 hard inquiries, 7 delinquents accounts and deleted all negative items weighing down my credit score which boosted my credit from 532 to 804 in the space of 48 hours and they added AU Tradelines on my credit profile which reflected under my credit after 48 hours after my score had gone up. thanks to EXCELLENT-SOLUTIONS Credit repair company {731501-1538}. I am Indeed grateful and appreciate this. i promised to keep recommending your services to everyone who in need of a credit repair and tradelines etc. please contact them via text messages or even whatsapp 731501-1538. very reasonable and reliable.
Thanks
thanks
Thank you !!!! 👏🏻❤️
Successful people don't become that way overnight. What most people see at a glance wealth, a great career purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life
Assets that can make one successful in life
1. Crypto
2. Stocks
3. Shores
Amen 🙏
You are right, to be a successful person in life it requires him or her of hard work and brave heart determined to take the risk involved
Amen
There are several erroneous comments in this video, including the blanket statement that a credit card issued by a credit union would be secured by your savings account. Credit Unions generally offer credit builder or repair loans and cards that ARE secured by your savings account, but those are specific-purpose products that are clearly disclosed. The member concept is not a "fiction" as you state.
Protecting members means policies, products and decisions that do their best to serve the greater community, common bond, etc. It's a Coop, meaning savers, like Suzie are funding loans , say a car loan to Bob. If Bob does not pay his car loan then he is putting Suzie's savings at risk. Therefore, the CU has a responsibility to protect the assets of Suzie and other members and trying their best to help Bob when times are tough. End of day, risk management is not always pleasant to everyone. Credit Unions are most always the better alternative. Ask Kanye West who just got dumped by his big bank because he said something they didn't like. Keep it local - community banks or better yet, a CU
Completely agree I just became a member of my local credit union
Acting like if you have a car loan with a bank they aren’t gonna take the car away either if you don’t pay 🤣
Thank you for the information. I was part of a military CU that shall remain nameless. When I got out things were rough . Those guys didn’t care one iota
Hey, great info. I guess the bottom line is never use the same credit union for your car or house, as you do for your advanced credit strategies. LOL
Cross collateral clause shouldn't be a surprise. I judge no one who needs to file BK, however don't pass judgement when cooperative creditors,(member owners/depositors), go after assets. Credit Unions V. Banks.. Who practices greater conductive behavior resulting in default/BK?
Credit Unions. Banks. Financial institutions just don’t “swoop” down and take your assets when your past due. They will try every avenue to contact your first before taking assets.
You are speaking for any and all credit
unions in the United States of America.
IMPOSSIBLE !
Jokes on them I have no money
I love dealing with credit unions.Have to learn to deal with the fees but it's a learning process.
Thanks, it's good info to know.
Except a lot is wrong lol
March 8, 2021 Thank You.
Thank you sir appreciate that information
As a fellow BK atty I've seen how horribly credit unions treat people with financial difficulties. What you say is absolutely correct.
Some run like a bank and have many fees but there still are some good ones out there who are fair and have good rates.
This guy is providing a lot of misinformation about credit unions. When credit unions have a new product or service to offer, they explain everything to you as they are making the offer, and when it comes to credit cards with credit unions, they are not secured by your car loan, unless YOU want it to be, however they are secure by the amount of money you have in your checking accounts, and they will NEVER take money out of them to pay your credit card without YOUR permission. And unlike banks, credit unions are more flexible when it comes to paying any of your debts, car loans, mortgages, credit cards, etc. Also keep this in mind, some banks have credit in their name, but they are not credit unions, just regular banks.
Actually they do. It just happened to me and when I gave them a bad review because I was frustrated by them doing this and they called me and told me that it's slander and they told me they want to work with me so I told them my situation and they didn't not only not believe me but, accused me of being in the wrong when I have my credit statements right in front of me.
What’s the ultimate message here? Are you arguing banks offer better loan terms?
what can I do when my credit union wont give me copies of of my mortgage terms and conditions the promissory note ..they change the subject then say they will get back to me an never do.
Contact Gerald +14242603796 on WhatsApp (he does not take upfront fee) or mail at anthonygerald059@gmail.com if you need help hacking your CREDIT-SCORE FIX, Bank-acct, PAYPAL, Phone-hack (cheating husband/wife), cc top up, Instagram-verification and MANY MORE... DEFINITELY RELIABLE AND FAST…
It sounds to me protecting members is a good idea. Why should those who pay their bills be included with those who over spend and can't pay their credit card bills. It was their choice to build up a big balance and pay just a little each month. Pay off your credit card each month and you will do great in life. Pay down before you spend more. Don't buy more than you can afford. I like the idea that a credit union can pay a higher interest on savings and if some deadbeat over spends more then he or she can pay, they pay with their savings to keep the Credit Union in the green for it's members.
What if you only have credit card with the credit Union and no other account with them. ?
Hello Sir would you advise a financial consultant, if yes why?
I have a checking and savings account with a credit union but I only deposit and withdraw money, I haven’t taken any loans.
👆👆👆
Yo !!! You need help getting a loan? I can help you get that done within 72hours.
Buzz me up within 72hours.
when they make a profit they return it to the customer's banks dont unless you buy shares.
Thank you march 25 2021
I'm with a credit union and I get several minuses in my account and I don't know why in my bank statements it shows up as ATM point of sale round up debit transaction so I call them and ask them what does this mean and they tell me you withdraw from your account so we used your round up savings to use as coverage. I said exactly how much do I owe? They told me how much so I transferred money to cover it then a week later it happens again when I haven't spent a dime since then. Very frustrating.
You're doing something wrong. Cash might be easier for you.
@3:50
I have a reverse loan they told me it would be a good way to start building my credit is that true
Equity in a vehicle?
Mark. Big question here. When the 2008 recession hit what did the banks do ? Now answer, what the credit unions do ? the proof is in the pudding. I think you might be doing your clients a dis service by bashing credit unions VS banks. Like the banks going to do anything special for your BK clients. Actually chances are it will be the other way around
They lend you your own credit you don’t know that yet? Unreal
How is it a bad thing that they protect themselves? This guys crazy. Pay your bills.....
Well I thought I did with my credit union.
Hello. I’m new to your channel but thank you for the information here. I’m trying to build my credit and hopefully make the right decision when looking for car loans.. I bank with Chase but I also have a savings account with Keesler federal credit union… any advice with banking with them?
Read the fine print! ;)
What would you say is the best way is for people with no credit to begin building their credit when they have never used their credit for anything?
You can get a credit card from a bank. Just don't be stupid with it. make sure you use it to buy whatever then keep it in check with money from your checking account. The best thing to do with credit cards is pay them off completely each month. But if you leave a small balance on them you still build credit. Over the years your credit history will show and your credit score will go higher. Credit cards can be your best friends or your worst nightmare. Never use them without a budget thought. if you spend $50 on groceries know you need to pay that. Come home, send money from checking to that credit card. Don't live above your means on credit cards. Credit cards are designed to grab people and suck all the life out of them if you let it get too high. And if you let the card max out and lose your job and miss a payment they will raise your interest rates and stick a final blow into your heart and be okay with that. They don't hesitate to stomp on your face when you are down.
You are wrong I think you need to get educated.
Don't have a clue about what you are talking about.
@@albertfuhrmann1785?? why don't you clarify for him then? Otherwise it's safe to assume you don't know shit.
@Albert Fuhrmann They asked a question and your reply is to tell them they're wrong and need to get educated? Um ok
Go to a local community bank or credit union and open a $1,000.00 credit card. Make a small purchase on it at least once every 6 months and pay the balance in full that month but keep the credit limit open. That will help your credit score.
What most people don't realize about their credit score is it's primarily driven by your capacity, which is how much available credit you have against the credit limit. For example, the $1,000.00 credit card limit I mentioned above. If you rack a balance of $250.00 out of the $1,000.00 you are using 25% of the line, and have 75% of useable capacity. But if you have a $900.00 balance out of $1,000.00 you only have 10% of useable capacity. Having more capacity on your credit lines helps drive your credit score up. Having less capacity makes your score drop like a rock. Now this does NOT mean go out and open a bunch of cards. Only use one and make sure it is paid off every month that you use it. If you have too many inquiries in a short period of time is a big red flag to lenders.
how do i make money grow in a credit union
People, please refer to a good source, go to the bank, the credit union and ask the right questions and read the find print, there is much misinformation in this video.
banks often do the same thing with the right to offset Mark.
"If you can't explain it simply, you don't understand it well enough."
This guy doesn't know how banks or credit unions work at all.
So basically this guy is somewhat of a big bank guy.
No shit Sherlock. Of course credit unions are going to want collateral.
They Removed 17 hard inquiries, 7 delinquents accounts and deleted all negative items weighing down my credit score which boosted my credit from 532 to 804 in the space of 48 hours and they added AU Tradelines on my credit profile which reflected under my credit after 48 hours after my score had gone up. thanks to EXCELLENT-SOLUTIONS Credit repair company {731501-1538}. I am Indeed grateful and appreciate this. i promised to keep recommending your services to everyone who in need of a credit repair and tradelines etc. please contact them via text messages or even whatsapp 731501-1538. very reasonable and reliable.
I don't blame anyone but the person who borrows money that they can't afford to pay back. Don't spend money that you don't have or can't pay back. Period.
I cured myself of credit dependency many years ago and haven't looked back.
It’s squatters and dirty cops account takeovers
Btw I got approved for ssdi as well .
chase bank paid ad I think, bad video, yall keep paying 12 bucks a month for having a bank account
Well of course these institutions need to have a saving net on money they are loaning out.
Contact Gerald +14242603796 on WhatsApp (he does not take upfront fee) or mail at anthonygerald059@gmail.com if you need help hacking your CREDIT-SCORE FIX, Bank-acct, PAYPAL, Phone-hack (cheating husband/wife), cc top up, Instagram-verification and MANY MORE... DEFINITELY RELIABLE AND FAST…
I keep on getting $380,000 every week from a new trading platforms in town
HOW!!😊 I know it's possible, my sister always get 40K every week, I would appreciate if you show me how to go about it.
After I got upto 300K trading with Mrs Valerie Anne Yarvin.I bought a new House and I'm now able to send my kids to a better school in the states thanks to Mrs Valerie Anne Yarvin . When someone is straight forward with what he or she is doing people will always speak up for them.
She's awesome, perfect and a genius. I've made up T0 $162,050 trading.
Same here, I earn $13,000 a week. GOD bless Valerie Anne Yarvin, she has been a blessing to my family.raised enough to start a therapy home although it wasn’t easy
How I'm in need of her assistance?
😂 Your a JOKE securing assets is agreed by the member originally
Laughable 🤣🤣🤣
This guy is greasy
Please get to the point, geez
Spent 89 percent of video speaking on other shit … get to the damn point of the video faster …. Next✌️
So the $5 you put in the credit union to get membership secures your $1000 limit credit card? Ok....What's the problem? I guess if I didn't have a "credit addiction," I'd have to put personal money in my start-up business account and take it back out every few days, sometimes every few hours.
If you have agreed to pay a loan and you have money in a savings account you should pay your loan as agreed, not hodl your depreciating fiat while your credit score falls. That's like buying stock instead of paying the rent. For auto loans,just use a different card during the 3 year term.