If you have discovered that your bank is actually the devil, you might consider divesting your hard-earned dough out of those multinational financial institutions – you know, the ones who kind of destroyed our economy – and start investing in a local bank. Two you might consider checking out are Self-Help Federal Credit Union in West Oakland and Torrey Pines Bank in downtown Oakland. People’s provides financial education to the local community and savings accounts for those who need to build their credit. In addition, during tax season, they set up a tax site and process hundreds of tax returns for low income earners. Torrey Pines Bank offers many more services and accounts. I personally have a business account with them and am thinking about shifting all my accounts to this bank. Their customer service is fantastic, and I never have to wait to talk to someone or make a deposit. And they provide free parking, yay.
Self-Help Federal Credit Union
“Community development credit unions provide all the services one would expect from any other credit union. What sets them apart from traditional credit unions is the emphasis placed on serving underserved populations.
CDCUs offer low-balance, interest-bearing accounts and low-interest loans to members. They position themselves as alternatives to predatory lenders and check cashing stores that drain communities’ capital resources and promote dependence on a cash-based economy. CDCUs reinvest member and non-member deposits into loans and services that preserve and expand a community’s assets.
Community development credit unions also provide financial education services to their members and community residents. CDCUs view these services as crucial in their efforts to break the cycle of dependence and increase self-sufficiency within the low-income communities they serve.”
Torrey Pines Bank
“At Torrey Pines Bank, you’ll find all of the products and services of a large bank, with the personal attentiveness of a community bank. When you approach a large national bank with an unusual need or a complex challenge, you often run up against organizational bureaucracy that gets in the way. If you take that request to a typical local bank, they may have more leeway to find a creative solution but lack the necessary resources.
Our unique advantage is that we have resources that surpass most community banks while we preserve the ability to adapt our offerings to each customer. For example, in the area of commercial real estate loans, our individual lending limit is three to five times higher than a typical local bank. Our lending practices have always been thorough, methodical and designed to reward established, well-qualified borrowers. So while other community banks find themselves constrained by a lack of capital, deteriorating loan portfolios and lending limits, we’ll often provide financing others can’t.” Ask to speak to Dale Marie Golden. Tell her your trainer sent you!!