ME-to-ME transfers | General comparisons | Discussion forum

It occurs to me that maybe they really don't want to make it easy. It's almost always easier to deposit than to withdraw. Financial institutions want to hold onto your money. They don't want you to do exactly what you're asking for. I'm sure there are heated debates in boardrooms over whether it is better to be competitive on a feature like this that some people may be wanting, or better to try to convince people that they should leave their money where it is. If you don't have much of a competitive edge on deposits, you might, as an institution, prefer the latter. In general, institutions with higher rates should be more interested in doing this, so some of the credit unions with widespread membership should follow through in due course.

Most financial institutions are not in the service business, it seems to me, despite what they may claim. They are in the business of pleasing shareholders. In the case of credit unions, the shareholders are the people who hold accounts there. So, as a member, you have a right to participate in annual meetings and probably committees, tell board members where you would like to see changes, and generally lobby for your goals.