OSU Federal, Your Community Credit Union

★★★☆☆

About OSU Federal, Your Community Credit Union

Categories
Hours
Monday – Thursday 9-5 Friday 9-6

Finance

Finance
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2.5 2
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I hate to say anything bad about any credit union, because I'm a big believer in the concept. Basically, a credit union is a financial co-operative, run for the benefit of the members (customers) and not, like banks, for the profit of a bunch of already-rich investors. But OSU Federal Credit Union, based in Corvallis, OR, has made a mistake in their choice of investment services companies. Before about 2004, they were partnered with a company called Credit Union National Association (CUNA) which provided them with investment services and a local representative. This representative was very helpful in assisting credit union members such as myself who wanted to save towards retirement. For some unknown reason, the credit union decided a few years ago to end that relationship with CUNA and start up with a largely privately-owned outfit called CUSO Financial Services. Ever since, there has been a very high turnover rate in the CUSO representatives available for members to consult with, and they all seem to be more interested in selling various investment products than they are in helping members with unbiased advice and guidance. Last night, a friend and I attended a "seminar" which was supposed to be about Socially Responsible Investing, and turned out to be a 45-minute sales pitch for a portfolio management service that charges exorbitant fees. That was the last straw. I'm completely disillusioned about the Investment Services portion of OSU Federal Credit Union, and I recommend that people approach them with extreme caution. I'm going to see what I can do to get my credit union to reconsider it's relationship with CUSO.

3
★★★☆☆

I hate to say anything bad about any credit union, because I'm a big believer in the concept. Basically, a credit union is a financial co-operative, run for the benefit of the members (customers) and not, like banks, for the profit of a bunch of already-rich investors. But OSU Federal Credit Union, based in Corvallis, OR, has made a mistake in their choice of investment services companies. Before about 2004, they were partnered with a company called Credit Union National Association (CUNA) which provided them with investment services and a local representative. This representative was very helpful in assisting credit union members such as myself who wanted to save towards retirement. For some unknown reason, the credit union decided a few years ago to end that relationship with CUNA and start up with a largely privately-owned outfit called CUSO Financial Services. Ever since, there has been a very high turnover rate in the CUSO representatives available for members to consult with, and they all seem to be more interested in selling various investment products than they are in helping members with unbiased advice and guidance. Last night, a friend and I attended a "seminar" which was supposed to be about Socially Responsible Investing, and turned out to be a 45-minute sales pitch for a portfolio management service that charges exorbitant fees. That was the last straw. I'm completely disillusioned about the Investment Services portion of OSU Federal Credit Union, and I recommend that people approach them with extreme caution. I'm going to see what I can do to get my credit union to reconsider it's relationship with CUSO.

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I tried getting a car loan from them but failed because they had a wrong credit score. I am 100% sure it was wrong because I checked my score the same day I applied for the loan and I used the same credit reporting company they use. However, the clerk told me that she sees a much lower credit score than I had even though I showed her a printout of my credit report and score.

2
★★☆☆☆

I tried getting a car loan from them but failed because they had a wrong credit score. I am 100% sure it was wrong because I checked my score the same day I applied for the loan and I used the same credit reporting company they use. However, the clerk told me that she sees a much lower credit score than I had even though I showed her a printout of my credit report and score.

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