| Author |
 Replies: 84 / Views: 5,445 |
|
|
|
Pillar Of The Community
3147 Posts |
Local credit union sells the Statehood Quarters for $2.95 to $3.95 each because they put them inside a .25 card. Nothing more than a rip off by a league of rip off artists. It wouldn't happen if the general public would just stop buying but.....we all know the answer to that. |
|
Pillar of the Community
United States
3234 Posts |
Gary - What you're institution did is simply unbelievable. They can NOT do what they did to you. I'd march right back in there and demand they sell you them at face. They are simply legal tender pieces of currency and they're a bank (credit union...whatever). Idiots!
|
|
Formerly nancyc
Australia
5385 Posts |
It would seem to me that this was the action of a rather 'greedy' manager. I doubt that the rest of the staff were aware of what she was trying to pull off. Quote: 'She excitedly motioned me over to tell me that she remembered I wanted the new Presidential dollars'No wonder she was excited, she thought she was going to make a few extra $$$$$.   |
|
Pillar of the Community
United States
4589 Posts |
GAry I am mostly sure I can atleast get you some Philly mint Dollars at my Local Bank at Face Value of course
|
|
Pillar of the Community
United States
834 Posts |
It could be a service they provide to which they add a service fee on top of the cost of the coins. I do not agree with it however they can charge a fee.
Bruce
|
|
Pillar of the Community
United States
1327 Posts |
wow. I didn't know they could charge more. I no that my bank has a 2 roll per costumer limit that way they no that everyone who want them have a far chance to get them. but they don't charge more then face fro them. but my bank as well is selling the boards for them but it is not accually thought the bank it is a out side source.
well just glad there is 5 branches close by so I can get all the rolls I need.
|
|
Pillar of the Community
United States
527 Posts |
I Would report her and hope she gets fired. I don't think this has any thing to do with the credit union, I think she was acting on her own trying to take advantage people that want the coins. I am picking some up tomorrow for face value. She's breaking the law. Credit unions are non-profit, and I am pretty sure that what she is doing is close to embezzlement, she is acting as the banks representative, and profiting for herself.
|
|
Forum Dad
 United States
24170 Posts |
quote:
Credit unions are non-profit,
Yes, on the bottom line, not per transaction. Try to get an interest free loan from your Credit Union. You will pay interest, which in turn will be paid back to the members using lower interest loans and/or savings dividends and/or ...... It is not against the law for them to make money on you, as long as they're even on the bottom line. Don't confuse what I'm saying with not thinking it's pretty nasty to charge extra for the new dollars though. Just not illegal. |
|
New Member
United States
8 Posts |
I agree with everyone else I doubt they can do that because if they could do that what's to stop them from doing that with all currency, because after all it is in such high demand. I would find out who to report that to possibly even the media. I think that would be straight up illegal, if it's not we as a people are in deep trouble!!!
|
|
Rest in Peace
 United States
3730 Posts |
I really appreciate all of the great comments by our members.
Now that some time has passed, I find that I'm not so much angry as I am curious.
I won't let this go. I'll probably drop in tomorrow and maybe find out what the heck is going on.
My credit union was originally a teacher's credit union, but it has opened up its doors to everyone in recent years. The growth has added many new employees also. Perhaps some with new ideas?
I have been a member since 1967, and this is the first time I have really become irritated with the institution.
I'll try and find out more, and will report back with any new information.
|
|
Pillar of the Community
United States
1703 Posts |
Gary,
I would definatly talk to the manager of the CU about it and see if this is their policy,and if it is I would do business elsewhere.While it may not be illegal it is certainly unethical.
|
|
Pillar of the Community
United States
2254 Posts |
Aren't credit unions privately held? I mean, I think it is still illegal in their particular circumstance because I would think they are ultimately governed by the Federal Reserve or Dept of Treasury, but if in fact they are a "private" company, I wonder if that makes a difference?
regardless, I again agree with everyone here. This is just unsat!!
|
|
New Member
United States
37 Posts |
From the US Mint page: # George Washington Presidential $1 Coins will be available for purchase at face value to all members of the public at their local financial institutions beginning on February 15, 2007. The banks and other financial institutions that have entered into such arrangements have agreed not to distribute George Washington Presidential $1 Coins before this official public release date. # The Presidential $1 Coins currently being offered for sale by private businesses, often with a considerable mark-up, are the same circulating quality coins that will be available to all members of the public from their local banks and other financial institutions on February 15, 2007. These are not the proof or uncirculated quality coins that are found in United States Mint proof and uncirculated coin sets, nor are they official "early releases" or "first strikes." # For more information on the Presidential $1 Coin Program go to https://www.usmint.gov/$1coin. So the question is this a financial institution or a private business? What is the definition of a "credit union" Rob |
|
Pillar of the Community
United States
4870 Posts |
I believe its a financial institution.
|
|
Rest in Peace
United States
3730 Posts |
I stopped in this morning, but none of the "officials" were present.
I'll try later in the week, and ask how it's possible to charge a premium for circulating coins.
|
| |
Replies: 84 / Views: 5,445 |
First Page
Posted 03/12/2007 9:43 pm
