Get your money out of the bank

Posted on August 15, 2024 by DRenegade
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173dVietVet
173dVietVet
6 months ago

Put money into credit unions.
They are not corporations so they do not have to have big profits to pay dividends and exorbitant fees to Directors.
Run by a board elected from within membership, they do not have reason to make risky loans.
They do not gamble with your money like banks do.
Yes, they can fail, but history has shown that credit unions are very resilient during banking crises since they are more conservative to whom they make loans.
Note: their savings accounts pay zilch but they do have certificates of deposit for a year or nine months that pay a better return than savings accounts.

Patriot_One
Patriot_One
6 months ago

I agree some credit unions are better than banks. But thats just a stop gap measure. Inflation is the real problem. The way prices are rising the money you have in that credit union will be worthless soon. Its better to spend some now to prep and learn how to live off the land and skill yourself in the trades of old, like farming, ranching, carpentry, masonry, smithing, weaving, self defense, and my favorite, legal home brewing and wine making. Jacks of all trades don’t starve.