I desperately want to use a credit union for all of the presumptions you're making, however:

- I've moved to 12 in 15 years across 3 countries and 8 states. Credit unions are terrible for this.

- The non-profit credit union I used for my car loan was quite possibly the worst and most painful technology interfacing experience I've ever encountered.

- There are all sorts of out of state and international benefits by using a national provider - for example, I regularly send international wires for an international STR property I own.

- You simply can't beat big banks for their CC rewards.

FYI - I've used BoA, WF and Chase blows them all out of the water.

So, no, it's totally not insane.

As someone who has used both, I whole-heartedly believe that anyone who would put some marginal financial benefits of a CU over the ease of use, consistency and convenience of a big corporate bank is insane. So it appears we’re at an impasse.

See, whenever I’ve had any sort of issue, the CU has been way more helpful and responsive. It ain’t about the rates.

The first credit union I belonged to, my balance was rarely four digits, more commonly 2-3. The branch assistant manager was absolutely amazing. She'd do me all sorts of favors, like insta-clearing parts of checks I was cashing.

Any major bank is full of pencil-necks who have the corporate rule book memorized and won't dare speak a word outside of the script they were handed.

1. Zelle: all of the big banks have it. Credit unions are slower to adopt. 2. Mobile apps: big bank mobile apps are pretty great these days. 3. Credit cards: Bank of America rebates 2.625% for top customers. 4. Bill pay: the big bank bill pay integrations with vendors and ebills is better

Zelle should be avoided for almost every transaction. There is no fraud protection.

So it's as good as cash?

If I sell my old TV in the parking lot of a Walmart, I don't want somebody to charge back the transaction.

Don't use Zelle to pay someone you either 1) don't know or 2) isn't handing you what you purchased at the same time.

Not really, there is as much fraud protection as ACH. If you’re will to make use of direct deposits and ACH transfers, you can use Zelle. Just don’t expect to be handled with kid gloves.

No, there really isn't. And the banks themselves say so.

https://www.nytimes.com/2022/03/06/business/payments-fraud-z...

> Zelle’s immediacy has also made it a favorite of fraudsters. Other types of bank transfers or transactions involving payment cards typically take at least a day to clear. But once crooks scare or trick victims into handing over money via Zelle, they can siphon away thousands of dollars in seconds. There’s no way for customers — and in many cases, the banks themselves — to retrieve the money.

> The banks are aware of the widespread fraud on Zelle. When Mr. Faunce called Wells Fargo to report the crime, the customer service representative told him, “A lot of people are getting scammed on Zelle this way.”

Even Zelle says so:

> Zelle® does not offer a protection program for any authorized payments made with Zelle® - for example, if you make a purchase using Zelle®, but you do not receive the item or the item is not as described or as you expected.

Source: https://www.zellepay.com/faq/im-unsure-about-using-zelle-pay...

Can't reply to the child comment https://news.ycombinator.com/item?id=31773886 from @proxyon but banks can reverse ACH payments. There are still rules for what can be reversed. Zelle intentionally has no reversal mechanism.

In case you weren't aware, you can always(?) click on the relative timestamp associated with a comment to bring up a reply box, even if on a deeply nested comment the reply link isn't available.

How is this any different from ACH or wire? What protection is there if you wire your money to a Nigerian prince vs. if you Zelle it to a Nigerian prince?

None with Zelle and Wires. But there is a tiny window of protection/reversal offered by ACH.

My credit union supports Zelle and has for a bunch of years.

My credit union's app does everything I need it to. Mobile check cash, check balances/see activity, lock or limit my debit card ($ amount, transaction type, location, etc.)

The 2.625% is capped at X spend, right? If not please please let me know

No, but it is contingent on maintaining a minimum balance at BofA/Merrill.

FWIW, Schwab doesn't have Zelle

Schwab has Zelle in the phone app.

I've had several Credit Union accounts across different states. They vary in quality and services.

One has great internet banking, remote check deposit, Zelle, and I can always talk to a real human on the phone when I need to. (Bonus: hearing my hometown accent). Nearly every financial product I need is there. And, I trust them, with cause.

My other CUs have fewer services and would not function as primary banks.