Should local credit unions really go against big banks at all?
I believe they should and I will tell you why below: Local Credit Unions Vs. Big Banks: Can You Get A Loan? Is A Credit Union Better Than A Traditional Bank? If you’re not already a credit union member, you may be wondering what the difference is between your local credit union and your local bank — or perhaps you’re not really wondering at all and you assume they’re pretty much the same. You may be surprised to find out that there are indeed some very substantial differences between credit unions and banks including the way they operate and who they work for. The Owners First and foremost, when you’re looking at which institution to bank at, you should take a look at who owns the establishment. When you bank at your local bank, the institution is owned by investors and the bank works to make those investors money. When you bank at your local credit union, the institution is owned by the members of the credit union and if you’re a member the institution is owned, in part, by you. Ther
If one could reduce the point of all the massive government planning and intervention and bailouts down to a single pressing need, it’s this: we must take action in order to get the banks lending again. MUST GET BANKS LENDING! With the credit market frozen and capitalization gaps a-yawning, the taxpayer needed to feed the beast in order to save it, and save all the car loans, home loans, business start-up loans, and students loans that would travel in it’s wake. Of course, that’s exactly how TARP was sold by Hank Paulson — the means by which those big financial institutions would start lending again. But then, that money was swallowed and digested by the financial system, leaving no evidence whatsoever of its previous existence. And yet, no lending! Of course, since then, Timothy Geithner has fashioned his own shot-by-shot remake of the previous TARP, a story I like to call PLAN NINE FROM GOLDMAN SACHS. Whether it spurs new lending at last, is anybody’s guess. (Though if I were the “a
