I gotta admit to grinding my teeth a bit today, and I wonder if any other Island Savings customers feel the same way. I know we were warned. But I’m still surprised. I knew I’d have to stop using my debit card in the convenient way I’d become accustomed to, but I didn’t know how mad it would make me.

I’ve had an account with ISCU for 17 years. I moved my mortgage because I wanted to support the local credit union. And what do I get? Nickel-and-dimed to death! It’s not that $1.50 per debit transaction is that much money; it’s that I have to think about it every time I go to buy something. And I have to admit, I didn’t realized they were counting bill payments as debit transactions. Or ATM withdrawals, fergodsake. I’m seriously thinking about switching banks just out of spite.

Here's what they told me when I asked for an explanation of the $3.00 charge this month:
"Thank you for contacting Island Savings.

We have switched from the Simply Free account to the Tru Essentials account. A letter would have been mailed in June/July to notify our members about the change. We understand this change affects members differently and we would be happy to review your account with you and answer any questions you may have. There are many reasons why we decided to make this change. Our decision to update our Simply Free Account is similar in that we are creating a stronger, more sustainable future for our credit union by better aligning our products to our purpose and building an admired brand that’s known for expert financial advice and deep member relationships – as opposed to a brand known for no-frills everyday banking at the market-bottom price point. We need to ensure the long-term success of the credit union and that involves investing in our people and investing in the channels that we use to serve our members."

How's that for buzzwords that mean nothing? I don't care about their "brand," and yes, I do want the no-frills everyday banking at the market-bottom price point. That's why I joined a credit union. Right now, I wish I'd voted against the merger with First West.