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Bank Issues

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Allstarflyer (Database Editor & Founding Member) 24 Mar 23, 00:44Post
GenOff used to be the place to get some of the good scoops on current stuff. {twocents}



Anyway, I was wondering how credit unions would be better in the current situation vs normal banks, and this is the first story I saw -

Just like banks, deposits above the $250,000 mark at credit unions are uninsured, But unlike banks, credit unions do not have the same level of risk exposure to the factors that took down SVB and other troubled lenders.


https://www.foxbusiness.com/markets/how ... urmoil.amp
DXing 24 Mar 23, 10:51Post
All my auto and bike loans are, and have been, through credit unions. The rates seem to always be a bit lower. Strangely, I never checked before getting my current home mortgage. Since I'm a vet, it probably doesn't make any difference.

On the whole though, have to agree with the article. I'm no banking professional, but just off the top, owned by the folks with skin in the credit union seems to be a recipe to avoid what happened at SVB. Don't think the even have the exposure the old S&L's had back in the day.

Just my observation, certainly nothing to take serious stock in. If I had all the money back for every bad financial decision I've ever made without a dime of interest, I'd stillbe a multimillionaire.
What's the point of an open door policy if inside the open door sits a closed mind?
 

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