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Al and Peggy Cunningham, Brokers
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11 Comments on Paying It Forward With Groceries
Good evening Al & Peggy, Sadly, there are many folks in distress across both our countries as the recession continues to wreak havoc...
What a great story Al & Peggy! Giving selflessly will be rewarded...I do believe that!
Al and Peggy that is a very generous thing that family did.
It is amazing that a bank would be allowed to do that, and people should be made aware of this so I suggested this for a feature and hope that this blog will get more exposure.
Great pay it forward Al and Peggy.............I love reading things like this, such a positive thing when there is so much distress all around us...............it made me smile, thanks!
Hi Al and Peggy - Many banks in Canada include a clause in the agreements you sign when you open bank accounts, credit card products, loan products etc. contain offset clause that allow them to pull funds out of your deposit and investment products if you do not pay amounts owning to the same financial institution and related companies (e.g. in-house stock brokerage firms, insurance companies, credit card companies etc.) Thus, you should not put everything in one bank. Such clauses have existed for many years.
Presumably, US banks have similar clauses but I have not looked at any US banking agreements.
Michael, we just wish there was another way to help. We know food banks do there job but there must be many people in the same situation as this poor family we described, who are normal every day folks going about their life when something like this happens!
We send kudos to the couple that doubled up their shopping because we know it was a strain on them Wanda.
George we were quite amazed that a bank could do something like that! We have a credit card with the same institution we bank with, thinking it was convenient, but this makes us rethink our stategy! Thanks for the suggest George, appreciate it!
We`re glad it made you smile Roger, it did us too, we know the `giving` couple and they warmed our hearts with their generousity.
Thanks for clarifying that Marc, because we were not aware of this and couldn`t believe it happened. Another lesson in reading ALL of the fine print Marc
Al & Peggy, That is a great story, and it provided something that was really needed I am sure. I hope that those that rose to the occasion and helped see a benefit from doing so!
Al & Peggy, another one of those feel good stories...none of my cards are at the same bank I do business with for just that reason.
Tony we do too, mostly because we know they couldn't afford what they did, but they did it anyway!
We learned from this story also Nick, never gave it a second thought before.
Now I know why there's always a flyer in my credit card statement to open a savings account with them. Nice story of friends helping friends. Hopefully the new year brings new hope and opportunities.
Great story, Al and Peggy. Paying it forward makes your life feel so much better =)