Anecdote: I have an account at a credit union connected to my wife's job. They've been really hard to work with. When my wife lost her ATM card, it took like 4 different phone calls to convince them to mail a new one. When I tried to get new checks with our new address on them, that was hard too. They have an Android app, but it's buggy.
Generally, they just seem like they need to hammer out some better business processes for things that customers commonly need.
I guess one thing I've learned is: if you're joining a credit union, make sure they have a physical office close to you. I feel like we could have gotten better service if we'd sat down across from a real person.
In my case, they have been demonstrated as too big for the government to allow to fail. Smaller banks have not.
That moral hazard is why I still keep accounts with big banks.
The service was seamless throughout all of that with the strange detail that they got a letter from the bank when their mortgage was a year from ending that said their payment had been miscalculated and they owed more money. I told my mom that she could contact the state regulator and in the end the bank backed down and even let her off the hook for the last three payments!
Later on I had an account at an S&L in Socorro, NM and that S&L failed during
https://en.wikipedia.org/wiki/Savings_and_loan_crisis
and got rolled into another S&L which was mostly a matter of the name changing and going to a different branch.
I have Chase and their app is excellent. And I love the fact that their branches are available in a lot of places. Finally, if I have any confusion I can either walk into a branch or talk to a human and get a response pretty quickly.
They’ve helped me arrange some fairly exotic transactions that there’s no way I would have been able to do on my own, but to get to that position, I had a decade long relationship with them, and they help me out even though I don’t have much money with them.
They all have issues with following legal practices, some more than others but all are equally bad.
There isn't a good alternative, and unfortunately the Fed decided to remove the fractional part, of fractional banking so they have no impetus to actually change. Depository requirements were set to 0% in 2020, and the overages have balloooned by roughly 300% since that time according to the still required reporting which is just a matter of time until they sunset.
That's what all those ad spend dollars do, make sure new ideas are drowned out by a dull parade of decade-old information.
I've been very happy at a work-related credit union and I can't recommend them highly enough; no fees, boring online banking that doesn't change every 18 months, and the knowledge that I can get a human on the phone without having to tickle a robot's numbers.
Why don't you tell us the name of this specific bank so we can look into it?
I bought stock in a regional bank that went through the 2008 crisis with hardly any drop in stock price, pays solid dividends, has beat the pants off Goldman Sachs from the viewpoint of the investor, but they also do well by their customers, community and employees. It is like some people don’t know you have a choice.