Are Credit Unions generally safer in times like these?

[skooooo]

Since they are more responsible to their "investors" or customers, do they tend to be less likely to get into stupid practices like some of these mortgage institutions / banks??

[NC_Nurse]

1. I would think so. Mine is great. Low fees, good rates, fair rules. nt

[muntrv]

2. One of the CUs in my hometown went into receivorship because it participated

in the sub-prime lending business.

[skooooo]

3. That's too bad...

I'm hoping mine has been responsible.

[Speck Tater]

4. There have never been "times like these."

The coming meltdown is MUCH worse than people are expecting. Unlike the Great Depression, we no longer have what it takes to recover from a crash. We no longer have resources in the ground, oil wells enough to supply our needs, factories ready to swing into gear once the money is available, steel mills with more capacity than they were using. We no longer have a solid currency backed by gold.

"Our" factories all all in China, along with our steel mills. Our resources are scattered around the globe. Our dollar is rapidly becoming worthless. Our best engineers and scientists and oil geologists, and skilled machinists and mechanics are all at or near retirement age, with no replacements being trained, because there aren't any jobs for them in the U.S.

We are well and truly screwed, and we are going down BIG TIME.

[skooooo]

6. wow..

Maybe we should commit mass suicide then.

:eyes:

[Strelnikov_]

10. We fight the smash. Just like our grandparents, the Dutch, the Poles, the Russians

the Cubans, the French etc. etc.

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way - in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.

[skooooo]

15. The "smash?"

I've never seen this word used this way. What do you mean?

[readmoreoften]

16. Yes, if someone says that things will be bad, it must be ridiculous.

Because nothing has ever happened in human history. The way the world has been for the past 70 years will be the way it always is. The only people who ever make good points are those who sound reasonable and moderate in all situations. Just like the people who said Iraq would be difficult to win but it was ridiculous and alarmist--eyeroll, eyeroll--to say that the nation would devolve into civil war or that oil would go up to $80 a barrel (totally absurd.)

Also, the correct idea to extrapolate from someone who remarks that problems are headed your way is to assume that "the only thing to do is kill yourself." This is because no one has any courage or survival skills or will to create a better future. When someone says a storm is coming, a reasonable response is to assume that the person wants you to throw yourself overboard instead of--perhaps--preparing for the storm or even mutinying the idiot captains who got you into the situation.

[skooooo]

17. I asked a specific question..which was not addressed by poster.

Hello??

:wtf:

The topic is credit unions.

[stevedeshazer]

7. Can I have your car and stuff?

Just asking before the big crash.

I'd especially appreciate any extra cash deposits, or at least a treasure map of your back yard.

[Strelnikov_]

9. I think we have the engineers, scientists, and enough machinists/mechanics

to train the next generation.

Once we are transformed post smash from an arbitrage economy to one that has to (again) produce real and tangible goods, under a new energy paradigm, these fields, in addition to farming, will again be valued skills. Knowledge/practical skills will be the new currency.

And when I say 'farming', I mean like my uncles and grandfather used to do. Sustainable with minimal 'external' inputs.


But, yes, send lawyers, guns and money, the shit (is about to) hit the fan.

[trotsky]

11. Um, having a currency backed by gold was one of the reasons there WAS a depression.

Why are there so many gold bugs on DU? I don't get it.

[upi402]

18. well put. and our corporate dems are in on it.

we are 90% screwn as long as they have the media and rigged elections. how long it can be held off is the question.

[Runcible Spoon]

5. I would like to see all the big boy banks liquidated and reorganized into credit unions.

fuck federal bailouts. No I am not kidding. It's time to put wealth and equity building back into the hands of the people.

[Liberal In Texas]

8. Credit unions are great. I'll never go back to a regular bank again.

The staff knows who I am when I walk in. They even have dog biscuits for my doggie.

[skooooo]

14. Dishes of candy too!!

:thumbsup:

I like them too. I can always get better rates than I could from a bank.

[Strelnikov_]

12. I am taking no chances

I have my funds spread across five separate/distinct institutions, including two different credit unions.

[ThomWV]

13. I use both - for a reason

We use the Credit Union for everything except the one feature our's lacks, which is Safety Deposit Boxes. That we get a bank that is much closer to our home than the Credit Union and a checking account there because its free and the annual Box rental can be taken out of it.