Chase vs. local credit union for a HELOC, night and day in 3 weeks

I applied for a home equity line at Chase in Dallas, took 6 weeks and they kept asking for the same pay stubs three times. Meanwhile my credit union approved the same amount, $45k, in 8 days with one phone call. The rate was 0.75% lower too, but the real win was talking to a human who actually answered questions. Has anyone else found the smaller shop just runs smoother on stuff like this, or did I get lucky?

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holly8989d ago

Same thing happened to me last year with a refi. The big bank kept "losing" my tax returns while the local place had me approved in like two weeks flat. I swear they just have more buttons to push and less reason to actually push them. Definitely not a one off, smaller shops just move faster when there's actual people making the calls.