Posted 6 years ago on Nov. 20, 2011, 6:50 p.m. EST by hchc
from Tampa, FL
This content is user submitted and not an official statement
Yes, there are technical differences. But the fact is, they are both in the business of lending money that they physically dont have, to people who can barely afford it.
When the people all switched over, the credit unions (just smaller loan sharks) pushed 90 million dollars worth of loans onto the people. In the middle of a depression mind you. http://money.cnn.com/2011/11/08/pf/credit_union_switch/index.htm Same story, different building.
These slime balls took all these new customers, and then exploited them. This was a total backfire. The people that participated now have 90million in new debt. That is bullshit.
We need to really start thinking about some of this stuff, and start peeling the layers back. Credit unions wont have your money when theres a run on the banks either. And they all are under the rules of the Fed anyways, so its not like they are really independent.