I have been banking at Assemblies of God Credit Union for a few years with some reservations but I dealt with them. I wanted any money that I would have given a corporate group to go into the proclamation of the gospel in the nations. As a member of the Assemblies of God and a graduate of their bible college, it made sense to be part of the AGCU.
The Assemblies of God Credit Union has really went downhill in recent years. It used to be more about ministry and less about business but now the opposite is the case. I have many friends who took issues with the service they were offered but I never had much of an issue until 2020. However, the different issues I have had this year has caused me to close my account.
The credit union was started back in 1951 with a vision to serve the leadership of Assemblies of God churches and make sure the leaders have financial services that they might not be able to get at regular banks. It also served as a venue for loans for ministries (which is not biblical according to Romans 13:8)
The fact that they give around $200,000 a year into world missions from their operations is what drew me to the credit union but it is not enough to make me stay at this point.
Shared Branches with the Assemblies of God Credit Union
If you live in Springfield, MO or Waxahachie, Texas; this is not an issue. However, outside of those two cities; there is no branches to speak of. What you have to do is go into another credit union to do your business and they send the information (withdraws or deposit) to the main office in Springfield.
I lived in Kansas City for years and this was doable. I could go to a credit union that I was not a member of to put money in my account at a credit union that did not have a presence in the city. It was perfect but it did work. When I lost my card, I was able to withdraw money from my account at Central Communications Credit Union without an issue.
However, if I was traveling in Missouri to any city that was a little smaller than Kansas City; there was no “shared branches.” This became more and more of an issue as I traveled. I was carrying a handful of checks and cash given to me at ministry outreaches for days until I could put them in the bank. This is not ideal.
As the ministry become more mobile, this will become more of an issue than ever. I get this is part of dealing with a credit union but I need to have access to a branch pretty much wherever I am. If I find myself in Boone, NC or in New York City. Assemblies of God is not the way to go for that.
In other words, if not in Springfield or Waxahachie; you might want to re-think using the Assemblies of God Credit Union.
Delays in Deposits
As I am writing this, I am waiting for a direct deposit that normally hits at 12:01am to be posted at two in the afternoon. According to them, it might be a few days until it post. This does not work for me. The “it will be there when it gets there” philosophy of banking is not how I want to do business.
This has become the normal for Assemblies of God Credit Union. Every month I get a check and on that day, I normally have to call the main office and ask them to post it manually. What normally would hit automatically at midnight has required a call to request manual posting.
So this post that I am waiting on could post today or it might not post. They do not know. This time of “maybe yes, maybe no” really concerns me coming from a financial provider. In my view, this is very unprofessional.
Timing of Deposits
I use to get any deposit that I would get about 2 days beforehand. It was posted on the 5th of the month and the bank had it on the 3rd, they would post it. At the first of the year, this stopped. They would not posted until the day it was marked for. Waiting for a large check when they are just holding onto it sucks.
The other thing that really changed was they were not hitting at midnight anymore. It would be around nine in the morning before I would see the check post. You never knew what time the post would come through so making plans to do this or that was not happening.
This is not the end of the world but operating without a real timetable of when the money will post kinda sucks and it makes creating plans a little more challenging. I would much rather know that when I wake up on the day I expect a deposit, the money is actually there. Maybe, that is just me.
So long, Assemblies of God Credit Union
I love that they give money to world missions but the problems outweigh the benefits at this point. As sad at it is, I will have to go back to the big national banks that can provide the services they say that can. It was great doing business with them until the credit Union just went to complete crap in 2020.
To be honest, I expected more out of something carrying the name of the Assemblies of God. I guess that is my fault.