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Posted on 3/12/23 at 10:27 pm to anc
My measley 25K is in a credit union.
Posted on 3/12/23 at 10:39 pm to Gaggle
quote:
People have far more confidence in CU's so they could sustain fewer runs to begin with
Probably but that's not how a panic actually goes down
Counting on a panic to happen more slowly and rationally is not a great strategy
This post was edited on 3/12/23 at 10:40 pm
Posted on 3/12/23 at 10:43 pm to BengalOnTheBay
Pretty sure HW ended up with a ton of branches as part of the merger that brought the two together and they have been trying to shed branches for years as a result.
Posted on 3/12/23 at 10:44 pm to anc
quote:
Bank at a credit union
Credit Unions are a member-owned and controlled financial cooperative.
Posted on 3/12/23 at 10:46 pm to jonnyanony
Big banks go this week
Credit unions go next week
Hyperinflation a few weeks later
Is a quick chaotic panic process in which we all die from cannibal hordes but still makes the OP true
Credit unions go next week
Hyperinflation a few weeks later
Is a quick chaotic panic process in which we all die from cannibal hordes but still makes the OP true
Posted on 3/12/23 at 10:48 pm to Gaggle
FYI - If you want to be eating rather than eaten, I recommend investing in canned goods and shotguns.
Posted on 3/12/23 at 11:00 pm to Gaggle
quote:
Seems CU's more likely to have more reserve on hand because they are local member owned and nonprofit. People have far more confidence in CU's so they could sustain fewer runs to begin with
Oh my. CU supervision is worse. Harder to see because their standard financial statements are harder to read and they have zero shareholders. No shareholders means no analyst looking over the backs of management.
If you think CUs have a better risk management framework then please place all your money there and best of luck to you.
Posted on 3/12/23 at 11:12 pm to Alltheway Tigers!
Isn't there a lot less to supervise. They're a local nonprofit. They're not spread out in investments everywhere like banks. We're talking about surviving a run. It's an infinitely smaller pool to begin with.
What percentage of all accounts combined deposited funds does BoA have on hand cash, versus a local CU?
What percentage of all accounts combined deposited funds does BoA have on hand cash, versus a local CU?
This post was edited on 3/12/23 at 11:15 pm
Posted on 3/12/23 at 11:41 pm to NC_Tigah
Probably a stupid question but is the JPM, Chase bank or is the C chase bank?
Posted on 3/12/23 at 11:46 pm to Asleepinthecove
Jpm is JPMorgan chase.
C is citibank
C is citibank
Posted on 3/12/23 at 11:53 pm to TheHarahanian
Schwab is all sorts of fricked I believe.
Posted on 3/13/23 at 12:23 am to anc
What the criteria for “danger”?
Posted on 3/13/23 at 12:28 am to LSUSkip
quote:
If I have a credit card with them, I don't have to pay it now, right?
That debt would be sold to someone else, so no escape.
Posted on 3/13/23 at 1:07 am to Chingon Ag
quote:
Schwab is all sorts of fricked I believe.
How so?
And also, how is vanguard doing in all of this.
Posted on 3/13/23 at 6:09 am to anc
If a bank fails, what happens to loans they've made? For example, to whom would you pay your mortgage and how?
Posted on 3/13/23 at 6:30 am to anc
quote:
#7 TFC
Do you mean TCF?
Because that slides this whole thing into the “Doubtful” category
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