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CREDIT UNION MEMBERSHIP ELIGIBILITY

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Since we all belong on this forum, I think it would be ideal to help one another out in need of a bank account when it comes to credit unions. Since they are picky about how you can join, and not through an association, why not let people join because of one of us being a current member at a credit union. When I was in need of an account many years ago, my friend who lives in Texas , told me about a Credit Union in the Dallas area. I was informed they used Telecheck. He said when you apply online, just list my name as a relative and i did. The account was opened without any issue. If the bank would call to verify the relationship, you can always say, yes we are related. Thats as far as that can go. I have helped many people get into credit unions that i belong to in which they didn't qualify due to location. I have never encountered any issues. Sometimes if you join a church they will accept you to since you are technically member of that church, if eligibility is based upon on work or worship in that area.  I think we should at least give the gift of membership to those who need it. 

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I'll review this one with the other moderators. Not sure this should be a recommendation of Creditboards. Will let you know what is decided.

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I don't think it's worth making up you're related to someone just to join a credit union. There are plenty of credit unions that you can join just by paying a small amount to temporary join an association. PenFed and United Nations credit union come to mind. Then there are credit unions like Golden 1 where anyone living in California can join.

As you mentioned, there are lots of credit unions that let anyone living, working or worshipping in a geographic area join. I've wondered, if I wanted to join "Boondocks Community Credit Union," and I don't live in Boondocks, will traveling to Boondocks, going inside the first church I see, then praying that Boondocks Community Credit Union lets me join, counts. 😕

 

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Lol, usually they want some type of proof.  If I recall, a CU I joined a few years ago needed a letter from the church showing I currently attended.

 

Some credit unions can be finicky. The operational environment is different than banks. I can easily see one of them creating an issue saying this site was suggesting applicants falsely claim family members. Particularly if they started getting a larger number of charged off accounts.

Edited by tmcgill

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Engaging in fraud is rarely an endorsed practice.  And to do so in joining a credit union places not only the applicant but ALSO the actual member at risk. 

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This is a very bad idea.

 

CB once upon a time had a few superprime members who lent out their credit card accounts as AU to other members to help others build their credit files. I don't think it ended badly but there was always some risk in such a plan.

 

There's lots of CUs to join that don't require such shenanigans as claiming 15th cousins ten times removed as a "relative".

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