About those "free" Cashpoints ATMs?
😎 As you are well aware, our SECU leadership blew up a 40 year long alliance with Local Government FCU with a foolhardy "no formal proposal proposal" [NFPP] to merge in 2022. The "divorce" will cost SECU members @ $60+ million annually in shared-service support income from LGFCU!
The LGFCU Board rejected the NFPP (much like Canada refused to become the 51st state!) and voted to move forward in the best interests of LGFCU members. Lets all hope the upcoming separation goes smoothly and that members of the new CIVIC prosper.
Take a look at how the soon to be independent LGFCU/CIVIC is advertising its ATM services to its members:
😎 CIVIC FCU: "Search our network of surcharge free ... Cashpoints ATM's to avoid the fees in the first place."
✅ Not sure what "ATM fees are vintage at best." means, but since CIVIC is reimbursing all surcharges to members anyway; why isn't SECU collecting the normal surcharge from CIVIC FCU on Cashpoints ATM transactions?
It seemed logical not to apply ATM surcharges (now at $3) in the past, since the alliance with LGFCU was full-service. But now that the $60 million service support agreement has vanished, should SECU members be providing CIVIC FCU "free" Cashpoints access? CIVIC members perform millions of Cashpoints transactions each year.
😎 The ELT likes to throw the word "subsidy" around a lot. ... shouldn't a newly independent CIVIC FCU pay its fair share of the costs?
Seeking independence, but still expecting to live at home with "Mom" doing the laundry?
