After The Obstacles, A Victory
The Age
Tuesday October 14, 1997
FRANK Giacomello is an Outlook Credit Union member who appreciates, perhaps more than most, the advantages of a cooperative.
He and his wife have a home mortgage with one of the big four banks and he thought it might be a good idea to transfer the loan to his credit union and, at the same time, consolidate other loans he had.
He made the approach to Outlook and within days everything was approved.
But the bank, he says, immediately put so many financial obstacles in the way of the plan, he was forced to abandon it.
"It is just that the credit union people were so helpful and so prompt," he said.
"I have been a customer of that bank for 25 years, since I was at school, but it made no difference; they just could not see their way to help.
It is this negative reaction that worries him.
A financial officer with Ansett, and a part-time taxation agent, Mr Giacomello says banks appear to have lost the plot when it comes to customer service.
"But when you are a member of a credit union, certainly it is the case at Outlook, it does not take long to be on first-name terms with the staff.
"They remember who you are and that's important. At banks today, no one knows you any more."
However, Mr Giacomello, has beaten the banks at their own game in a small way with his part-time business. Cheques through the bank were attracting fees that he eventually decided were unreasonable, so he switched his small business account to Outlook, where his cheque issues are free of fees.
"Using Outlook Credit Union for my business account saves me at least $200 a year," he says.
"But the biggest advantage for me is not the money saved, it is the attitude of the people who serve you.
"In a credit union, it would seem, people still are people and not simply numbers as we all seem to be as bank customers nowadays."
© 1997 The Age
