2.03.2015

Banks That Charge Fees Lose Business - Proof

Today I consolidated all my bank accounts, closing my Associated Bank accounts and moving them over to Summit Credit Union. I also opened a second checking account at Summit for my music/writing business finances.

I had planned to do this consolidation for a while, but was procrastinating. Associated Bank forced my hand when they hit me with some exorbitant fees on two of my accounts recently. I am not saying the fees were not my fault (I fell below a minimum balance). But what I am saying is that Summit has totally free and no fee checking and savings accounts. The only fee I’ll be charged is $5 annually for a debit card on each of two accounts ($10 total). How does Associated think it can charge big fees (I consider $10 and $16, respectively, to be fairly big) and not lose customers? Summit literally stole my business from Associated by being cool. Free market I guess.

Anyway, now all my financials are under one competent roof.

I am doing my taxes with my awesome accountant Pam on February 15 and will hopefully have a phat stack of cash to infuse into the coffer.

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