oberlin: I wasn't sure where to ask this question

aliiigator!!!1!!one! (

___iou) wrote in

oberlin,
@ 2005-07-09 11:21:00

I wasn't sure where to ask this question, but, what bank do most Oberlin students use? Are there any local banks/what ATMs are there on campus?

(Post a new comment)

	mhoshi 2005-07-09 03:34 pm UTC (link)
	I'd say most folks use FirstMerit. They can be rather... inconsistent... with the balances they give you, so if you go with them I'd keep careful tabs on your balance. But, they have the monopoly on ATMs around town, and are probably the largest bank in the area. Otherwise, you can try Lorain National or the Credit Union. (Reply to this)

	epeolatry 2005-07-09 03:35 pm UTC (link)
	i'm a not a student--i'm a staff person, but i've never had a problem with firstmerit. (Reply to this)

	luckysnorkel 2005-07-09 03:40 pm UTC (link)
	There are a few banks in town. I use First Merit, and am really happy with them. They have an ATM, and there's also an ATM in the student union building. Both are no charge if you have a First Merit card. (Reply to this)

musicmanjack
2005-07-09 03:49 pm UTC (link)

First Merit is the worst banking system I have ever encountered. As stated above, they are very inconsistent with Balances. Despite closely monitoring my balance, I somehow managed to overdraw my acount by two dollars. They didn't notify me for a week and a half, and subsequently charged me five dollars a day plus 30 more for overdrawing my account. I ended up owing them almost $100. Their tellers are unfriendly too.

I got an account with Lorain National, and I love it. Everyone there is super friendly, and while I havent over drawn my account, they dont start charging you until you are notifyed. Plus you get a free gift for signing up.

(Reply to this) (Thread)

	burdenofdreams 2005-07-09 04:59 pm UTC (link)
	to add, you also get a free gift for refering someone else to sign up - i have 11 toasters from Lorain National Bank. (Reply to this) (Parent)

	bradsabastard 2005-07-09 05:14 pm UTC (link)
	first merit is a nasty bitch. (Reply to this) (Parent)

	sunlit_shadows 2005-07-09 03:52 pm UTC (link)
	stay away, far away from First Merit! i have an account with Ohio educational credit union after closing my First Merit account because they screwed up my records and threatened to report me to chexsystems for it. While OECU isn't open much, i have had no problem just using their ATM. (Reply to this)

	getpeached 2005-07-09 04:11 pm UTC (link)
	I'm with Lorain National and love them. FirstMerit horrifies me. My boyfriend from out-of-state who was visiting me had an awful encounter with them and their faulty ATM machines. Not fun. (Reply to this)

dynamint
2005-07-09 04:23 pm UTC (link)

I have also had no problems with Lorain National, and no experience with the others.

The only ATM actually 'on-campus' is First Merit's in Wilder. However, Lorain National and OECU both have ATMs that are only a short walk from most locations on campus. (Both are near the Oberlin Inn on East College Street, and First Merit is across the street on the corner of East College and S. Main Street.)

(Reply to this) (Thread)

	dynamint 2005-07-09 04:31 pm UTC (link)
	I thought this was in the memories somewhere: "Oberlin Banks and Social Responsibility" and "Which bank should I choose at Oberlin". (Reply to this) (Parent)

	Lorain National burdenofdreams 2005-07-09 04:56 pm UTC (link)
	Use Lorain National Bank. Rather then go into a whole bunch of detail about the Community Reinvestment Act, I'll just keep it simple and say that LNB does a far better job then First Merit of investing in the community then First Merit. LNB is also a local bank and not a larger chain like your typical financial institution. (Reply to this)

jsbww
2005-07-09 05:05 pm UTC (link)

do not not not bank with first merit. they are evil.

my experience: after a teller told me i had at least two months to fix my overdrawn account, they reported me to chex systems without warning, well before the 2 months had passed. for those who don't know, chex systems is a national blacklist of people who have had overdrawn accounts too long - if you're on the list, good luck getting a bank account anywhere for the next five years.

i ended up grovelling to my old bank back home, which accepted me because the teller knew me. but god, first merit came this close to fucking me over, and from the sound of it, they've fucked over plenty of other people over the years. ohio educational credit union and lorain national seem much better.

(Reply to this)

inkyoctopus
2005-07-09 05:55 pm UTC (link)

I am agreeing with all these fucked over stories from First Merit--I overdrew and they charged me a hundred dollars- didn't report me to Chexsystems, tho, thank god. I have heard sprinkles of horror stories about the other banks, but I have never up until now had trouble with OECU, my new bank. The only problem is they don't really have a bank per se, you can't withdraw money directly from them but how many people do that nowadays anyway? If you're waiting for your account stuff to be set up and need money they will write a demand draft check which you can cash as LNB, it's kind of a pain but the reason I stick with them is they understand their patrons: COLLEGE STUDENTS. We're going to overdraw and do stupid shit to our accounts that has no explanation. When you overdraft they don't charge you immediately and don't give you shit. Just don't leave it too long and it's fine. To put college students in chexsystems is just fucking cruel, imo. And with all the loan debt we tend to rack up, it's really like shooting fish in a barrel.

OECU also has weird hours (not open mondays or thursdays) but after living in a small town for four years, little inconveniences like that only slightly miff me. Besides, the ATM is 24 hours a day and you can deposit there.

(Reply to this)

	lo_spettro 2005-07-09 06:25 pm UTC (link)
	Banks on OberWiki - the pages for individual banks have a little more info/opinions. (Reply to this)

more on first merit and cra

burdenofdreams
2005-07-09 07:15 pm UTC (link)

First Merit was cited by the government a few years back for not investing enough in Lorain County. The concept behind the Community Reinvestment Act is that if a bank is absorbing the assets of the people in a neighborhood (i.e. issuing loans against the deposits residents make in their checking and savings accounts at said bank), it's only fair that some of those loans provide capital for projects in that very community. First Merit failed to meet this obligation.

Unfortunately Bush recently signed a bill gutting the community reinvestment act (CRA). Republicans claimed it was creating too much paper work for smaller banks.

I'll concede that small neighborhood banks may need some additional help to stay afloat and keep track of where they are lending, but instead of providing that help, Congress and the President gutted the whole thing.

(Reply to this)

another for lnb

edify
2005-07-09 07:43 pm UTC (link)

lorain national is amazing. the women who work there are amazingly friendly and will go out of their way to remember your name. if they see you in town, they'll wave and strike up a nice conversation. when you're out of town for the summer, they'll ask your in-town friends how you're doing at home. they also have an ATM in their building, which is pretty centrally located downtown. i've never known anyone to complain.

(Reply to this) (Thread)

Re: another for lnb

thecraftybitch
2005-07-11 04:20 pm UTC (link)

Quite quite. They're fucking adorable and wildly friendly. The last time I went, I was in a hurry and going through the drive-thru. A few of them huddled around the window taking turns with the microphone to ask me how I was doing and what I was doing and how other people were doing and to tell me they liked my car (apparently "sea foam green" is quite a desirable color...).

My mom's work uses FM for their banking. Mom's in there all of the time and those bitches don't even seem to recognize her, let alone be happy to see her. And hello? My mom is fucking adorable.

The cute ladies at Third Federal have all been offered better positions out of town. I hear they have low interest rates, however, if you're looking to buy a home...

(Reply to this) (Parent)(Thread)

	Re: another for lnb edify 2005-07-11 08:19 pm UTC (link)
	it's true; your mom is fucking adorable. (Reply to this) (Parent)(Thread)

	Re: another for lnb thecraftybitch 2005-07-11 09:11 pm UTC (link)
	And there we have it, people. There's clearly nothing further. Meeting adjourned. (Reply to this) (Parent)

	(Anonymous) 2005-07-09 08:37 pm UTC (link)
	lorain national is a local bank that takes care of students, and with the new commercial developments threatening the local economy (already tenuous), it's a better option for everybody. (Reply to this)

(Anonymous)
2005-07-09 11:11 pm UTC (link)

I haven't had trouble with First Merit, although I also haven't overdrawn my account. While first merit may have issues, they're also the only bank with an ATM inside Oberlin Campus, which is very convenient if you need money. Furthermore, the College issues checks through them which means that if you get a campus job and want your money quickly you should get a first merit account.

(Reply to this) (Thread)

(Anonymous)
2005-07-09 11:25 pm UTC (link)

" Furthermore, the College issues checks through them which means that if you get a campus job and want your money quickly you should get a first merit account."

Just because you don't have an account with First merit doesn't mean you can't cash checks there quickly. You can cash a check at firstmerit whether your have an account there or not, and then deposit the money later into another bank. But don't bank with First Merit. They are pretty evil.
Diona

(Reply to this) (Parent)

	jsbww 2005-07-10 03:30 pm UTC (link)
	i'm pretty sure lorain national cashes checks just as quickly, which is to say, immediately. (Reply to this) (Parent)

	edify 2005-07-11 08:18 pm UTC (link)
	i have a campus job, and let me assure you, your check is cashed immediately at lorain national. if you're depositing money, it usually isn't accessible in your account until the next business day, which is typical of most banks anyway. (Reply to this) (Parent)

	(Anonymous) 2005-07-10 02:05 am UTC (link)
	I am with the Lorain National crowd...I've had a bank account with them since I was young, and the people at the bank are always so NICE. Go with them, you wont regret it! (Reply to this)

ilunas
2005-07-10 02:53 am UTC (link)

First, while it's always good to see the same opinions rehashed again, I'd like to point out that this issue has been addressed before, and can be found in out Memories section, specifically, here, here, and here.

I'd also like to put my two cents in. First, a disclaimer: I use FirstMerit, and for many reasons gone over above, frequently wish I used something else. However, I do have some reason to pause on Lorain National. A close friend of mine has an account there, and this summer, her ATM card stopped working, stranding her completely unable to get any money out of her bank, and I don't think she's had any luck with the Bank figuring out why. And as she is far from Oberlin, this is a wee bit of a problem. So, in sum, no body is perfect, everybody screws up, and while it may be more socially responsible to go with the smaller bank, that doesn't make them infalible.

(Reply to this)

fellow fm burn victims

jsbww
2005-07-10 03:44 pm UTC (link)

you know, we could do a favor for the next gen of obies, and at the same time avenge ourselves against this horrible bank... by carpetbombing orientation week with anti fm propoganda.

(actually i've wanted to do this for a while, but i'll be off campus again this fall, so i'm hoping someone else can carry out the plan:)

imagine -- you're a new student, and you see posters all over the place saying "don't bank with first merit" -- maybe signed by a whole bunch of oberlin students. that could take out a big chunk of fm's student business - and as we know, their student business is a big chunk of their business overall.

who knows, maybe we could finally drive these bastards out of town. either that or they'll be forced to clean up their act. and since they're pretty entrenched around here (contract with the college, etc.), i imagine it would be the latter. good all around.

who's in?

(Reply to this) (Thread)

	Re: fellow fm burn victims bluejaysfan4eva 2005-07-10 08:55 pm UTC (link)
	A similar campaign popped up my freshman year, though it was pretty short-lived. It was great fun to make my first trip to the ATM and see it plastered with signs saying "FIRST MERIT IS EVIL!!!!1!1!" (For the record, I never had any trouble with FM, and I found their tellers quite friendly. Your mileage may vary.) (Reply to this) (Parent)(Thread)

Re: fellow fm burn victims

smurfpig
2005-07-11 03:47 pm UTC (link)

I agree with the fact that I have little trouble with First Merit. I did overdraw once, but I believe that it was my fault.

HOWEVER, in reference to the "on-campus ATM"...you should pretty much ignore it as a plus on the First Merit side. All of last year I was probably able to withdraw money from it twice - and not for lack of trying. It is FREQUENTLY out of service. I've heard stories of it eating cards too.

(Reply to this) (Parent)(Thread)

	Re: fellow fm burn victims bluejaysfan4eva 2005-07-11 04:30 pm UTC (link)
	BIG co-op knock to that. It ate my card twice. (Reply to this) (Parent)

First merit sucks

mikeluva79
2005-07-11 09:27 pm UTC (link)

My account is with first merit, they suck. Apparently my account was over drawn by a dollar. yes one U.S dollar. but on my checking statement for the month it said I had a balance of 30$ I go to the bank to deposit a check, and they told me my account was closed, and the only way to even cash my check was to take my fingerprints and blah blah. luckily they were having a special that day, and I opened another account that gave me 30$ for sing up, which took care of my previous balance in some wierd evil first merit way. When I asked about overdraft protection, they said I had to be working at least 20hrs to qualify... I've had it before with out that stipulation. What full time oberlin student can work 20hrs a week?
The plus side is the ATM in wilder, that never works anyway and doesn't take deposits. So I say go with a different bank

(Reply to this)

cizmad
2005-07-14 03:32 am UTC (link)

I bank with First Merit.

I went to withdraw money once at a non FM ATM, as my last balance check had yielded about 25 dollars. The ATM told me I had insufficient funds, so I checked it. My balance was 3 dollars and something. Needless to say, I did not withdraw money, or buy anything.

That ATM withdrew a dollar fifty from my account for using it with another bank's card.

First Merit then withdrew two dollars from my account for the transaction of trying to withdraw money from a remote ATM.

First Merit then charged me 33 dollars in overdraft fees.

First Merit then withdrew two dollars from my account for the transaction of checking my balance from a remote ATM.

First Merit then charged me 33 dollars in overdraft fees.

Since I had overdrawn before, they would not reduce the charges and - yes - I had to fork over just shy of 70 dollars out of my next 80 dollar paycheck because I had been double-charged for overdrafts, both times on fees charged by the bank.

I am changing my bank as soon as my summer job is no longer direct-depositing into my First Merit account.

(Reply to this)

	not first merit fairychaser9 2005-07-18 06:34 pm UTC (link)
	they are awful. i've had them for the past two years and they have given me nothing but trouble. i'm switching to the lorain one, which my boyfriend uses. he's never had any complaints. oh--and there is a solution to over drafting--they make you get a credit-card, i'm not sure how it works but credit cards and me do not mix. i highly recommend the OTHER bank. (Reply to this)

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