To: bovik@k Subject: Horizion Financial (Savings and Loan) Date: Tue, 12 Sep 89 17:15:37 EDT From: Erik.Brunvand@VLSI.CS.CMU.EDU The following are responses I got to a query about Horizion Financial.... Date: Wed, 6 Sep 89 13:17:01 EDT From: Barak.Pearlmutter@F.GP.CS.CMU.EDU Subject: Re: Bank Recommendations... I use Horizon Financial, and have had only positive experiences. They've even removed service charges that were of questionable reasonableness, with no hassles. Not only that, but you get a free towel! If you decide to go there, an account holder who recommends it to you also gets a free towel, so if you want two free towels just mention my name. --Barak. Date: Wed, 6 Sep 89 13:22:32 -0400 (EDT) From: Jinhao Wang Subject: Re: Bank Recommendations... I bank with Horizon and have a so called VIP checking account as you described. I am very satisfied with it. Unlike the tellers in Mellon or Pittsburgh National, the tellers in Horizon are fairly friendly. And also if you need a statement indicating how much you balance is, they give it to you for free. Horizon has some financial problems lately. But since all deposits are federal insured upto $100,000, you don't really have to worry about it. -- Jinhao Date: Wed, 6 Sep 1989 13:25-EDT From: Kai-Fu.Lee@SPEECH2.CS.CMU.EDU Subject: Re: Bank Recommendations... I have used Horizon for 5 years, and I've been very satisfied. The tellers are friendly and competent, the rates are competitive, and there are almost never waiting lines. BUT Horizon has been taken over by the FSLIC, so you should not leave large sums of money there. Kai-Fu Date: Wed, 6 Sep 1989 13:27-EDT From: Douglas.Reece@IUS1.CS.CMU.EDU Subject: Re: Bank Recommendations... Erik: Carole and I signed up with Horizon because of their good arrangements with MAC, checking account, etc. We have been happy with them except for a few rare administrative foul ups (about once a year). However, they are one of the local S&L's that are in trouble, and so stand a good chance of being bought out by someone else. I guess that doesn't bother us, or else we are just lazy, because we haven't looked around for another bank to switch to. Doug Date: Wed, 6 Sep 89 13:42:58 EDT From: Ajay.Jain@ANJ.BOLTZ.CS.CMU.EDU Subject: Bank Recommendations... Go with Horizon. My wife and I bank with them, and we have had no problems. We switched from Mellon Bank. I do most of my business at the Shadyside office and can't speak about the others. Ajay Date: Wed, 6 Sep 89 13:48:53 -0400 (EDT) From: Gretchen Miller Subject: Re: Bank Recommendations... Overall, Horizen is a very good bank. BUT they hold checks. A long time. Several WORKING days. They also seem to "process" a transfer of funds on an ATM as if it were a check, ie the funds will disappear from one account, but not reappear on the MAC account balance for two or three days. Still, they are the best of the lot when it comes to services and fees (or lack thereof). toodles as ever, gretchen Date: Wed, 6 Sep 1989 14:47-EDT From: Lonnie.Chrisman@A.GP.CS.CMU.EDU Subject: Re: Bank Recommendations... I have the Horizon account you refer to (I've had it for a year) and am happy with it. The only note: Horizon has had bad financial troubles to the extent that the Feds stepped in to take over management. They claim there is nothing to worry about here, and indeed they are insured FSLIC, so our $$ are safe. However, if they were to go under, my guess is that there might be delays in recovering our money. Also, you'll have to watch carefully to make sure they don't yank their FSLIC -- my parents had a bank cancel the FSLIC rather quietly then go bankrupt a few months later -- they lost it all. Despite my conjectures, I still have my $$ there and am entirely happy with no plans to look for other options. Lonnie Date: Wed, 6 Sep 89 14:58:19 -0400 (EDT) From: Sherri Menees Nichols Subject: Re: Bank Recommendations... I have a couple of accounts at Horizon, and have never had any problems with them at all, including the time I was cheated by an ATM. I called them up, they told me to write them a letter describing the circumstances and enclose a copy of the ATM receipt, and in less than a month (which was certainly sooner than I expected to have the issue resolved), the amount in question had been credited to my account. One big caveat about Horizon: it has been taken over by the government (a little problem with insolvency). The deposits are of course protected by FSLIC, and there have been no visible changes since this happened. I believe that the government is looking for a bank to buy out Horizon, but there's no indication as to when that might happen. Sherri Date: Wed, 6 Sep 1989 15:16-EDT From: Juan.Leon@A.GP.CS.CMU.EDU Subject: Re: Bank Recommendations... I bank at Horizon too, so I recommend it. However, they are being closely watched and possibly being taken over by the Feds because of financial difficulties. If you are fairly concerned about how the current savings and loan crisis will resolve, you might want to keep your money away from Horizon. On the other hand, the more new customers, the less likely they are to capsize. Help keep ATM usage free! Juan Date: Wed, 6 Sep 1989 16:26-EDT From: Su-Yuen.Ling@A.GP.CS.CMU.EDU Subject: Re: Bank Recommendations... I bank at Horizon, it's a good deal. However, I think they're under Feds' investigation right now. Who knows. - Su Yuen Date: 6 Sep 1989 17:21-EDT From: Philip.Koopman@greyhound.ece.cmu.edu Subject: Re: Bank Recommendations... Horizon Financial is *this* close to going bankrupt. They are under supervision by the FSLIC (you know, the insurance fund that's bankrupt....) Mellon Bank will give you (or at least, in the past gave me) free checking if you do direct deposit. There is no MAC fee, and they have MAC machines almost everywhere. And, they're FDIC. -- Phil Date: Wed, 6 Sep 1989 21:59-EDT From: Angelika.Zobel@SAM.CS.CMU.EDU Subject: Re: Bank Recommendations... Erik, I am a customer at Horizon. I had a lot of trouble with them - they lost a $3000 check that I expected from Germany. Had I not raised hell that time, I still wouldn't have that money. I continued to have trouble with any transaction from/to Germany. Seems to me that they are extremely incapable about anything that's not local checking or mac stuff. For regular things (checks, mac etc.) they are ok. --Geli Date: Thu, 7 Sep 1989 10:59-EDT From: Harry.Printz@IUS1.CS.CMU.EDU Subject: Re: Bank Recommendations... Note that Horizon is not a bank, and therefore may not have the same deposit insurance as a bona fide bank. Ask what their insurance limit is, and don't keep more than that in one account. Harry From: Christopher McConnell Date: Thu, 7 Sep 89 14:28:45 EDT Subject: Bank Recommendations... I've been with them a year and like them a lot as long as I don't have to deal with the tellers in Sq. Hill much. Date: Thu, 7 Sep 89 16:04:20 -0400 (EDT) From: "Michael S. Pasieka" Subject: Re: Bank Recommendations... When my wife and I moved to Pittsburgh two years ago from Boston MA, we were looking for a bank to transfer funds, get a good CD rate, and be friendly. We found Horizon. We do most of our banking at the branch in Squirrel Hill on Forbes Ave. I cannot say enough good things about them. The best part about them is the personal service. The people know both of us and got excited for us when we bought a house and had a baby. They have never messed up anything. The one in Shadyside at the intersection of Walnut and S. Aiken Ave is about as good. We go there primarily on Saturdays since that is the only local branch open on Saturdays. Same service with a smile. If you can find anyone out there who has had a bad experience, I'd like to know. -- Michael Date: Fri, 8 Sep 89 05:15:20 -0400 (EDT) From: Joe Keane Subject: Re: Bank Recommendations... A couple months ago i looked around and decided on Horizon Financial, and i'm quite happy with them. Date: Fri, 8 Sep 89 17:12:45 -0400 (EDT) From: Eric.Cooper@cs.cmu.edu Subject: Re: Bank Recommendations... We banked at Horizon until recently. Horizon is now under Federal receivership (or whatever the appropriate term is) --- taken over by the FSLIC to prevent it going belly up. It's one of the S&Ls that we'll all be paying to bail out in the near future.