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When Comerica moved from Detroit they cited their proximity to the rapidly growing Sun Belt as a reason. Does anyone have any information on how well they are faring? The majority of bank failings over the past two years have taken place in Sun Belt states... Has Comerica been a beneficiary of the changing environment?
http://money.cnn.com/news/storysuppl...ures/index.htm
While there's more of a hint of rooting for Comerica to fail in the tone of your post, I think that any bank that has survived the past year can claim that its doing pretty good, and Comerica is one of them.
Some folks are always going to be bitter about them relocating their headquarters, but I'm sure that's a cost they took into account when they decided to move. Unfortunately for the bitter ones, the scale still tipped heavily in favor of the relocating.
Bankrate.com rates Comerica 3 stars out of 5. That means they’re relatively stable.
http://tinyurl.com/Comerica-rating
But, since they’ve moved, this discussion belongs on Texasyes.com.
Ultimately, it's important for us to remember, while Comerica's headquarters may be in Texas, they still employ a large number of people in the City and the Region. Though, we are bitter about the fact there are no large banks left in Detroit.
Wonder if anybody remembers them as "Detroit Bank & Trust". Apparently they don't.
I do. My first bank accounts were at DB&T. Even the Indian head symbol was cool.
Most cities have lost their iconic banks, which lended locally, held loans locally, and were a part of the community.
We need to return to this form of localized banking and dump these "too big to fail" banks which are only here to screw us.
Two words:
Credit Union
That is what we need to form in the city, or help that woman on the SW side of town flourish hers.
We can, from there, self-insure our vehicles and even provide managed small-business and personal loans...do all sorts of good in the city.
There is NOTHING for Detroiters in national banks or the Federal Reserve monetary system, except slavery to a few lousy individuals who obviously don't mind serving up major angst to millions for their personal profit and gain.
I worked for Comerica so I am laughing now. Lets just say most coworkers were not happpy there. I agree with Gannon and the credit union idea.
Not really much to laugh about.
Remember where Comerica got the blue trapezoid logo from?
Yes, and it worked out well between Manufacturers and Comerica because they were both Detroit-based banks. I think once all the economic turmoil settles down, Comerica will be bought up by a larger bank. One of the main reasons they moved to Texas was they wanted to make themselves look "sweeter" to potential buyers. This was before the crash though. Within 10 years I don't see Comerica having a Detroit-proper presense at all. They are moving all that is left in One Detroit Center to 411 Lafayette for the time being. In a few years you will see a major shift to Auburn Hills and Livonia where they have major operations.
Is it or is it not wise for Comerica to have an operation in the City itself?
I do. My grandparents' accounts started at Detroit Bank & Trust - Harper & Chalmers branch - which later morphed into Comerica.Quote:
Originally Posted by Meddle
I, on the other hand, had my first childhood account at National Bank of Detroit - later First National of Chicago [[I think????) - later BankOne - now Chase - where I still have my accounts here in Arizona.
......Huh?Quote:
Originally Posted by artds
While I like the idea of increasing the presense of local banks or credit unions, in this modern world, many of us need to have accounts with national banks. Being able to access ATM's or even branches while traveling is a big bonus.
Heh. You're curious about how they're doing, so you must want them to fail. Sorta ... simplistic, isn't it? :rolleyes:Quote:
Originally Posted by iheartthed
All credit unions[[well maybe I should say most) belong to the Co-op network meaning you can use any other credit union atm for free. I think this is actually a larger network than any one bank can provide on their own.Quote:
Originally Posted by Maxine1958
I really dig the credit union idea.
Here's 10 tens to start your own credit union
http://www.bankrate.com/brm/news/cu/20000301a.asp
How to start a credit union
http://www.ncua.gov/Resources/Credit...ent/Start.aspx
way over my head, but I'd definitely join the DYCU
Thank you for that information Russix. I may look into joining a credit union and that will be one of the things I will look for.:)
I'm a member of a credit union and have refused to use a bank for my personal needs. I've been to Italy a few times and had no problem whatsoever finding ATM's to use.
[quote=artds;85056]While there's more of a hint of rooting for Comerica to fail in the tone of your post
......Huh? [[ditto)
[quote=artds;85056]While there's more of a hint of rooting for Comerica to fail in the tone of your post
......Huh? Someone looking to start another knock-down, drag-out, bare-knuckle brawl here at DYes?
Gannon, I'm due for a new Credit Union. Been 40 years at my present one. It's growing old, stagnant and distant. Who's the lady you referred to and what is the Credit Union?
Maybe someone here can recommend Credit Unions that provide business checking and services? I've looked in to it a bit. So far, I've yet to find a credit union that provides checking to corporations, no matter the size and stock ownership. I guess they think if you've incorporated, even as the sole stockholder and a small business, you can't use their services. I'm disappointed because I've had mediocre experiences at best, with banks. Most banks can't even explain their services properly because there are so many if's, ands or buts, fees, charges and triggers. How in the hell am I supposed to understand them? My personal Credit Unions have been pretty straight up, in terms of costs, fees and penalties.
Okay, I should have said access to ATM's without incurring ridiculous fees. There is an ATM in my building, but it would cost me $2.20 for each transaction. I'll walk a few block to my bank's ATM and withdraw my money for free.Quote:
Originally Posted by 1KielsonDrive
My bank reimburses me for ATM fees, pays interest and charges no fees at all for most things.
I belong to Credit Union One and can use any ATM in the Co-op network [[usually at 7-11's around here) with no fee.Quote:
Originally Posted by Maxine1958