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Forum Post: credit union

Posted 13 years ago on Oct. 9, 2011, 8:32 p.m. EST by gandhi (2)
This content is user submitted and not an official statement

One possible option to your typical Mega bank is a credit union.

3 Comments

3 Comments


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[-] 1 points by diogenes (8) 13 years ago

I would agree.. The way to halt the power of TBTF mega-banks is to place your funds with regional S&Ls and credit unions who are responsible for the overwhelming majority of local business loans.

The TBTF banks are all about global finance, derivatives and proprietary trading (on top of charging outrageous fees), as well as Credit Default Swaps. There are a reported $600 trillion in derivatives exposure out there, most of which is not properly regulated for counter-party risk. It's used to be called a "bucket shop" operation and was considered illegal. But now it the shadow banking system that must be halted and the power returned to local financial institutions that maintain "skin in the game" on their loan portfolios.

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[-] 1 points by ICSPOTZ (57) from Fort Carson, CO 13 years ago

I'm gonna do it tommorow, been putting it off for months .No more WF.

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[-] 1 points by gandhi (2) 13 years ago

We did about a year ago and are quite pleased with the service.

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