Updated over 8 years ago on . Most recent reply
Credit Union approval condition on making them my Primary bank
I am a member of a credit union. I have a couple small accounts with them and one investment property loan.
I am under contract to purchase another investment property and have applied for financing for that property with that same credit union.
They are telling me they will approve the loan only if I move my main accounts from my other bank to them and make them my "Primary Financial Institution".
Has anybody else ran into this? It seems rather unethical or simply strange that I am approved but only if I move all my larger accounts over to them.
Any thoughts or comments on this?