Mission Federal Credit Union has resorted to charging a monthly fee on my business checking account unless I maintain a minimum balance that is at best unrealistic. Upon further research it appears that all local credit unions in San Diego, CA that offer business checking accounts have similarly updated their fee structures (San Diego County Credit Union included). Dastardly!! The absence of that fee was the primary benefit at Mission Federal that convinced me to switch from Wells Fargo!! Why do they bleed the people who have the least? I used to love credit unions and express great loyalty to them as whole. But now I don’t see that they hold any advantage whatsoever. In fact, the branch and ATM inconvenience is not worth it if they can’t offer basic perks like a free checking account. What am I getting for my fee? It’s not like they are paying one cent of interest on the money I deposit. If I’m going to be forced to pay for the privilege of having a bank account (that no human EVER attends to since my transactions are 100% digital), I might as well have a bank with an ATM on every corner. Being a good customer just doesn’t mean anything any more. The only way to be valued is to be wealthy.

Here’s the conversation on Facebook, including a response from Mission Fed.