Because I like our old credit union, I’m not going to name the guy by last name. He is probably embarrassed enough. In short, we left ICCU behind when we left Idaho, but only since they are not set up to do banking or mortgage business in Oregon. If we had disliked ICCU, this letter might have been more sarcastic, but we did like them and enjoyed dealing with them. They are probably the most worthwhile consumer financial institution in Boise. In fact, I liked my banker there well enough to copy him on my reply.

Here are the email and my reply, with some redactions for privacy:

From: J.K. Kelley [mailto:[redacted]]
Sent: Wednesday, October 12, 2016 7:37 AM
To: Chris; Mitch
Subject: Re: ICCU Refinance Opportunity

Hello, Chris, (Mitch, also thought you’d get a laugh out of this; hope you’re doing well, and I miss our conversations–good luck to Harsin and the Broncos; offensive line is the core of the sport)

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On 10/6/2016 2:49 PM, Chris wrote:

At Idaho Central Credit Union we are looking after your daily balance.

That’s thoughtful of you! If this is true, then you understand that my daily, weekly, monthly, and annual balance at ICCU is zero, and you must have access to my balance at another mortgage bank in a different state, which I find fascinating.

That’s why I have identified you as a potential refinance candidate.

Have you? That’s a surprise! I didn’t know you were in the Portland market.

If you are at all interested in potentially refinancing your current property while interest rates are at all-time lows, please give me a call or shoot me an email to discuss how I can save you money on your monthly mortgage.

I have to respect your persistence, since we closed our ICCU accounts about eighteen months ago. Not with pleasure; simply that we’d moved away and sold the house. We liked ICCU, good outfit, good guys like Mitch. If we still lived in Boise our mortgage and savings would still be at ICCU.

Please answer the following questions and I’ll get right back to you with an estimate on your possible refinance:

1. What do you roughly owe and what do you think your home is worth?

We owe $$$$K on a house I think would sell for $$$$K. Of course, the drag is that the house is in Beaverton, Oregon. Housing shortage here. We have homeless camps. People like us are making bank renting out a guest room.

2. What type of property do you own and what is the property address?

Residential. It is at Number SW Street, Beaverton. However, before driving over, please call first. It would be very sad-making for you to drive seven hours and find that we are out eating granola or something. [Afterthought. If he is so familiar with our mortgage, how come he doesn’t know the property address?]

3. Are you looking to stick with a 30yr term to keep payments lower or something shorter like a 20yr or 15yr to try and get this paid off quicker?

Now, please think about what you just said. If I wanted to make greater payments on my thirty-year mortgage, I could be doing that. In what universe would I lock myself into that?

4. If you had to guess what do you pay for in home owners insurance per month?

I don’t have to guess. Through the reserve, divided out, I fork over about $$$ per month. I cough up another $$$ per month for earthquake coverage that isn’t worth a damn. You didn’t ask about the property taxes, but they suck. Roughly triple what we paid in Boise.

5. Any idea on where your credit scores stand?

If anything, they have improved since you lent us money before, so I suggest you check your records. It was only three years ago. Should still be xxx+. Please don’t run it again, though, unless we’re looking at a 2% drop in our mortgage rate (that would put us around 1.75%). If you have that in mind, my number is xxx-xxx-xxxx; let’s talk.

I Look forward to working with you,

Chris

Idaho Central Credit Union

[title and other signature data redacted]

Well, that’s good to know.

[misc links, we-love-us, and guidance redacted]

Notice: This e-mail and/or the attachments accompanying it may contain confidential information belonging to Idaho Central Credit Union. The information contained is for the use of the intended recipient. If you have received this e-mail in error, please notify the sender by reply e-mail and destroy all copies of the e-mail and any attachments.

I’m not sure if I received it in error or not. Perhaps you can tell me?

-j

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My former banker actually replied first, with a laugh. I suspect Chris will be a little red in the face, but no harm done except to his pride.