According to a study conducted by the U.S. Government Accountability Office, there are an estimated 420,000 ATMs in the United States. And the fees that banks and credit unions charge non-customers/members for using them (aka, “Foreign ATM Fees”) have increased 20% from an average $1.75 per transaction in 2007 to $2.10 in 2012.
While some institutions charge as little as 45 cents for non-customer/member use, others have fees as high as $5. In addition to the amounts of the fees going up, more financial institutions are charging them too. Over the past five years, that number has increased from 87% to 96% as banks look to offset increased costs.
However, as the study also notes, consumers have many ways to obtain cash without incurring fees. 3Rivers is no exception. We have a variety of checking options – each designed to meet specific needs of a varied membership base:
- 3Rivers Members have access to tens of thousands of surcharge-free ATMs across the nation (note: depending upon which account you have with us, a $1/transaction foreign ATM fee may be applicable if you use those ATMs).
- Many of our checking accounts don’t charge foreign ATM fees – meaning you have completely free access to ATMs NATIONWIDE – just look for the AllianceOne, CU24 and Co-Op logos on the ATMs (or click here to find a surcharge free ATM near you).
- With Rhythm Checking, we’ll REFUND ATM SURCHARGES (up to $12 per month, $3 per transaction) if you incur any (monthly qualification requirements apply).
Wondering if you have the right checking option (whether at 3Rivers or another financial institution? Try out our simple Checking Solution Finder to help you navigate your choices.
Yesterday, The Greater Fort Wayne Chamber of Commerce, and some of those instrumental in making the Harrison possible, celebrated the grand opening of the upscale residential and business complex. 3Rivers CEO Don Cates, Mayor Tom Henry, Whitley Manufacturing President Simon Dragan, Hagerman Group CEO Mark Hagerman, and Carson Boxberger Managing Partner Timothy Pape each said a few words to those who braved the cold long enough to join in the celebration. They mostly talked about how instrumental they felt the new development was to the continued revitalization of downtown. 3Rivers CEO, Don Cates, talked about how important the new branch at The Harrison, and how it will allow 3Rivers to better serve it’s membership, many of whom work downtown.
After the ribbon cutting, 3Rivers hosted an open house, complete with cake. Tours of the complex were given, and fellow Harrison tenant O’Reilly’s Irish Bar and Restaurant hosted a Greater Fort Wayne Chamber of Commerce Chamber Night.
It was my hope to provide video of each of their speeches, but a windy night and lots of background traffic noise made it difficult to save the audio. Here’s some footage of the event including the ribbon cutting itself. If you haven’t had a chance to stop in and see us in our new digs at The Harrison, stop by for a cup of coffee. We look forward to seeing you.
Smaller paychecks, higher prices and growing debts are leading many consumers to examine their money matters more closely. As WANE-TV and CNN Money reported recently, consumers are cutting back as they feel a new pinch on their money matters. As Sarah Quinlan, senior vice president for market insights at MasterCard Advisors, observes:
People still are acting as if we are in a recession.
Some ways people are taking action include:
- Holding off on major purchases
- Decreasing energy expenses by driving less or turning down thermostats
- Cutting out or reducing spending on splurges like coffee-shop lattes
- Hunting for sales and using coupons more often
One way we at 3Rivers are helping our community overcome money challenges is through something we call WalletCare. We’ve been doing it for 75+ years but only recently gave it a label. We take an honest look at your financial lifestyle and seek ways to help you better manage your debts. Then, we suggest options for using your newly freed-up cashflow to pay down debt faster, save for retirement or have a little extra breathing room to budget more confidently.
A real-life WalletCare example
A member we’ll call “Pat” recently visited us. Through a brief conversation, we learned about 11 different debt payments that Pat makes monthly.
They total just a hair under $1,000 and Pat was starting to struggle to come up with enough to cover all the payments each month. To make things worse, Pat’s credit rating was also starting to suffer because those payment obligations were a big chunk of Pat’s income.
Our team member suggested an alternative to consolidate all those debts into one monthly payment totaling $225 each month – a reduction of more than $760!
Our team member then offered Pat a few different options for using those funds more effectively. Pat chose to use half the savings (about $380 a month) as an extra payment on the principal of the new loan and put the other half into a newly opened IRA.
The WalletCare impact?
Pat went from having a high monthly payment commitment, no retirement savings and a slowly deteriorating credit rating to the prospect of being completely debt free in 55 months (instead of 180) and having an IRA with an estimated $45,000 when retirement comes. And, Pat didn’t have to take on any new debt or make any drastic life alterations.
That’s life changing. That’s WalletCare.
3Rivers at The Harrison opened today. Our newest branch gives us the opportunity to build and deepen relationships with business partners and members who live, work, and play downtown. The new branch features an open design concept with 4 meeting rooms, a Wi-Fi cafe, and an exterior ATM. The branch will be open from 9-6 Monday through Friday and 9-1 on Saturday. We will be closed on Sunday.
Our good friends at the Downtown Improvement District visited first thing this morning, and snapped some photos to share on facebook. We’re looking forward to seeing the rest of you soon. Stop in for a cup of coffee at the Wi-Fi cafe, and we’ll see what we can do to help you take care of your wallet.
The grand opening of 3Rivers at The Harrison will be in mid February.
On Wednesday, January 9 we celebrated the grand opening of our new branch on St. Joe Center Road. Here’s a look at the new branch, as well as video of what 3Rivers CEO, Don Cates, had to say to thos in attendance. Our newest LEED Certified branch features a drive through, ATM, coffee bar, and unique touch screen kiosk with information about how 3Rivers can help you with your money matters.