A few days back; I reviewed the terms and conditions of the Cartwheel Checking account being offered by Verity Credit Union and was impressed with what they had to offer. Plus, I have applied for a current opening – Verity Mom. Check out my original review, here.
I figured any good reviewer would use and abuse the product and see where the chips really fall. That’s exactly what I am doing!
One morning during Labor Day weekend (about 2 am); I pulled up the website and poked around. Then, I saw it, a link to open a checking account. I figured why not; I wanted to learn more. So, I clicked. I remembered my review post so, I timed myself. Not counting the time it took me to walk out to my car and get my driver’s license date of issue and expiration date – I was able to sign up for an account in about fifteen (15) minutes.
Not only did I sign up for the account online, but I funded it, agreed to all the terms of service, AND verified my identity – without even leaving my house (oh wait, I did walk outside to get my driver’s license). I didn’t have to arrange my busy Hybrid mom life and get to a bank during ‘banking hours’. I wonder what ‘banking hours’ means to Verity Credit Union?
Hmmm, will have to find out typical branch hours.
After completing the sign up process I received a “Welcome” e-mail of sorts. It explained to me that someone would be reviewing my application and would decide if I was eligible to get a membership and account with Verity Credit Union (my hear skipped a beat; as I do have a couple blemishes on my credit, but no bad checks or bad history with any bank). Since, it was 2am I couldn’t really call anyone and ask any questions. I figured it would be explained soon enough.
I was right! I love it when that happens. The next day I received a second email (its still the weekend and no bank is open yet) explaining another method they use to validate the external account I used to deposit my opening deposit (did I mention I funded the account from my computer from an existing account)! Then, today. I received a couple emails from Aaron Donohue, Relationship Associate – Online Services, he welcomed me to Verity Credit Union, congratulated me on obtaining membership, and outlined the next step. He even explained to me that if I wanted to send in a signed copy of the membership agreement I could but it wasn’t mandatory. I was given a choice in signing a hard copy and then given both the pros and cons of it. Very empowering for someone who loves knowledge!
My next email contained all of my account details; account numbers, home banking log on information, and so on. It was sent securely using 3rd party software. Which required a few extra steps on my part – but I didn’t mind cause this one email contained all the information that prying eyes would need in order to take over my Verity Credit Union accounts!
I opened my Cartswheel Checking account with $10.00 (but, the bank doesn’t have a minimum); since its a credit union the checking account is attached to a savings account that I opened with $5.00 (the minimum). The only fee the bank has charged, so far, is a one-time membership fee of $5.00. I wonder if that’s a tax write-off (guess, I will be headed over to the IRS website to do some digging around)?
My only two issues I had with the whole process:
(1) When I had to chose the type of card I would receive with the Checking account my choices were ATM or Debit. It took me a minute to decide which one to order. I knew I wanted one card that had both features. My past banking relationships and knowledge told me that a Debit card can be both (as I have a couple other debit cards and that do double-duty), but I have never seen it broken down quite like that. So, maybe add something in that says the Debit card is an all-in-one card. I figured it out, but it did slow me down. After all, I was timing myself.
(2) The last email which contained all of my account numbers and home banking information was hung up in traffic. It was scheduled to arrive just a couple hours after my first email from Aaron; and as it got towards the end of the traditional banking day, I became a little worried. I am super eager to put more money into the account and make the account hum. I referenced the earlier email for a phone number and fully expected to get a call center type person where I had to explain what was going on. I was surprised when Aaron himself answered the phone. I quickly told him who I was and where I was in the process, what information I was seeking and even why I was seeking it. He offered to resend me the email; I agreed. That resent email cleared the traffic backup; and I received 30 emails all at once (not all from the Credit Union), but I did receive the information I was seeking. He even understood when my cell phone decided to cut him off and I had to call back.
Overall, I am pleased with the account in terms of timeframe and ease. It was quick and easy to set-up and I didn’t feel like I was turning control of my life over to the bank.
I wonder how long until my debit/ATM combo card arrives? Afterall, I am timing it!
I have my first deposit ready to go into the mail, along with a copy of my ID and the customer agreement – both optional items.
TWO thumbs up!
*Note: the author of this post was not compensated in anyway for the content above. This is strictly one person’s views and opnions. While Nicole has applied for the role of Verity Mom with Verity Credit Union; the bank did not request this review or compensate her in anyway for it.
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