Choice of Financial Institutions

Posted Friday, August 10, 2007, at 8:23 AM

My husband and I had been banking at SunTrust in Nashville since it was Third National Bank. Actually, we were fortunate to get a small second mortgage from them when we bought our previous home in 1971, so we definitely moved our account over there. Then they put in a branch at the airport when the previous terminal was built -- the one facing Briley Parkway. It was so convenient for Jim to get his check and deposit it before ever leaving the airport property. He could also get cash as we needed it. In those days I wrote the checks, but he handled the banking.

We also were members of a credit union which was known as the Tennessee Workers Credit Union before it merged with Bell South.

Decisions, decisions

When we were ready to move to Shelbyville we needed a loan to purchase our house, as we hadn't yet sold the one in Nashville. That very morning AEDC Federal Credit Union had announced a low rate for a mortgage. Before leaving town that day we joined the AEDC family here in Shelbyville and made an appointment to meet with someone at the Murfreesboro office the next morning to apply for a loan. The loan was approved, so we switched credit unions. Just after having checks printed, we learned it was changing its name to Ascend. We could handle that. We are very happy with our credit union.

The bank was another matter. I couldn't believe there was no SunTrust here in town, although there is one in Murfreesboro. I went through the list of banks in the Shelbyville phone book and checked them all out on the net. I had never banked on-line but decided I wanted to try it, so the bank had to offer that service. My car note is through the US Bank, as is our VISA card. That prompted our decision to go with US Bank.

Additional ATM needed

We think that the US Bank needs another ATM somewhere in Shelbyville. We always have to go to town to get cash, and I don't think I would feel safe at that one at night -- even though it is behind the jail.

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I have banked with Ascend for 15 years and paid interest all these years and never missed or late with a payment. I'm now in the foreclosure woe's. I only draw ss. I went to Ascend to borrow a few thousand to obtain age 62 Reverse Mortgage to make the r/m work and Ascend will not help me nor listen to non-profit credit counselors, whom are gov approved. I am only short a few thousand to get a R/M loan. The r/m would pay off my mortgage at Ascend. After 5 contacts for help/modification/refinance at Ascend. I am convinced they won't help when income is less in order to save a home and in the forecloser woe's. I would only be in debt with Ascend 6,000.00 for the r/m instead of a mortgage. I went to Hertiage South in Shelbyville and they immediately lend me some money for the R/M closing.

-- Posted by helenaatkins on Sat, Mar 21, 2009, at 3:10 PM

Forget Ascend, First Community, Regions and whoever else does so called banking in Shelbyville. For my money it all goes into Heritage South. The folks are very nice there and they are much easier to deal with than Ascend...they also have loans available for older vehicles, which is something Ascend will not do.

JMHO,

William

-- Posted by HorseGentler on Fri, Aug 10, 2007, at 1:49 PM

The problem with First Community is that it is not in other cities and states, therefore service charges are inevitable if you use that bank..

I have a Regions account, ever since they were First National, I have noticed the differences in quality customer services, etc...

But the point of topic is that USBank needs another ATM, that is true.

You would think all banks would set up ATMs at multiple locations, especially busy stores like Wal-Mart, Kroger, and Dollar General Market. They should strongly consdider the addition of other ATM's, as most every bank should!

-- Posted by darrick_04 on Fri, Aug 10, 2007, at 11:59 AM

Forget US Bank and Ascend, First Community Bank is the best in town. Not only are they always super friendly when I go to do business with them, they also have ATM machines at several locations in town plus they have one in Wartrace and Bell Buckle. I have been with them for years and love their service.

On a side note, I have been to US Bank once for business and the one lady I dealt with wasn't friendly at all.

-- Posted by jaxspike on Fri, Aug 10, 2007, at 10:00 AM

I agree fully that US Bank needs at least one more ATM location in Shelbyville.

One of the previous owners (that bank's had so many names that I can't remember which one) closed the additional ATM branches for what amounted to the usual cost-efficiency business-speak.

-- Posted by David Melson on Fri, Aug 10, 2007, at 8:57 AM

FirstBank has an account now which allows you to use any other bank's ATM -- you pay the other bank's fee at the time you use the ATM, but then FirstBank refunds it to you at the end of the month when your statement comes out.

The only thing is, in order to qualify you have to use a lot of electronic banking services (like direct deposit, using your debit card, checking your account online and eventually getting your statement online). That suits me just fine, but some people might not like it.

-- Posted by Jicarney on Fri, Aug 10, 2007, at 8:41 AM

Ascend Federal Credit Union needs a second ATM near Walmart and I agree that the US Bank ATM behind the jail does not feel safe at night.

-- Posted by nathan.evans on Fri, Aug 10, 2007, at 8:28 AM

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