Military Significant Others and Spouse Support - MilitarySOS.com
Results 1 to 6 of 6

Thread: It's all fun and games until...

  1. Regular Member
    ThumperJane's Avatar
    ThumperJane is offline
    Regular Member
    Join Date
    Dec 2016
    Location
    Eglin AFB
    Posts
    162
    #1

    Big Grin It's all fun and games until...

    Advertisements
    The FDIC shows up and SHUTS YOUR BANK DOWN!!

    Yes. That happened. The local bank that my mother uses for checking, savings, etc. was bought out by another bank and the FDIC came in last Friday and shut them down. All the money is safe and she isn't losing anything but it scared the **** out of her.
    She loved the original bank because they gave her such great interest rates - obviously too good because they were >1 billion dollars in debt!!! Please hold your pinky up to your lip Austin Powers style when you read that. And if you didn't please go back and do it.

    I've heard of things like this happening but never experienced it first hand. It freaks people out when they think their money is in jeopardy.

    Anyone ever experienced this with hometown banks?
  2. Quis custodiet ipsos custodes?
    Tojai's Avatar
    Tojai is offline
    Quis custodiet ipsos custodes?
    Join Date
    Sep 2009
    Location
    St. Pete FL
    Posts
    30,026


    #2
    A billion??? That's amazing.

    I never had this happen but I remember back when I was still in banking we did a training course about it and how to help customers make sure that all their funds were FDIC insured (if they have a lot you have to spread them around to different types of accounts so everything's covered).

    Did they just automatically make accounts for her at the new bank? I hope it goes smoothly and she feels better! It would definitely weird me out too.
  3. Regular Member
    ThumperJane's Avatar
    ThumperJane is offline
    Regular Member
    Join Date
    Dec 2016
    Location
    Eglin AFB
    Posts
    162
    #3
    Quote Originally Posted by Tojai View Post
    A billion??? That's amazing.

    I never had this happen but I remember back when I was still in banking we did a training course about it and how to help customers make sure that all their funds were FDIC insured (if they have a lot you have to spread them around to different types of accounts so everything's covered).

    Did they just automatically make accounts for her at the new bank? I hope it goes smoothly and she feels better! It would definitely weird me out too.
    No we have to go in today and make ALL new accounts. It's a pain because we get to do all the paperwork over again. They won't just transfer - they have to meet us.
  4. Waiting Around
    Mac N Cheese's Avatar
    Mac N Cheese is offline
    Waiting Around
    Join Date
    Feb 2008
    Location
    Wisconsin
    Posts
    26,418
    Blog Entries
    1
    #4
    I read about that. We have a bunch of those banks up here. When they re opened Monday police were assigned to the banks to make sure everything was safe
    ❤️❤️❤️
    Follow Rylee's progress

  5. Senior Member
    Deifick's Avatar
    Deifick is offline
    Senior Member
    Join Date
    Sep 2012
    Location
    Southern California
    Posts
    1,262
    #5
    I had an account with USA Federal Credit Union before they merged/were absorbed by Navy Federal Credit Union. My usual credit union location where I did my banking turned into a Navy Federal. On the day I needed to do some banking, I closed my USA Fed account, walked over to another counter at the other side of the building, and opened my Navy Fed account. For a while there was a transition period where they shared the building and you had to choose a side, and eventually, it turned into a Navy Fed.

    One thing is years later, I needed to write a check and accidentally used the wrong set of checks. I got a letter in the mail telling me that they used my Navy Fed account. Afterwards, I went through all my checks and ripped any from USA Fed, so I didn't make that mistake again.
  6. Regular Member
    ThumperJane's Avatar
    ThumperJane is offline
    Regular Member
    Join Date
    Dec 2016
    Location
    Eglin AFB
    Posts
    162
    #6
    Quote Originally Posted by Mac N Cheese View Post
    I read about that. We have a bunch of those banks up here. When they re opened Monday police were assigned to the banks to make sure everything was safe
    I closed a money market account with them that Monday. There was a cop with a gun at each door and a ton of people there helping everyone. Quite the zoo.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •