Home › Forums › Financial Markets/Economics › Close your accoutns at banks that took TARP
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davelj.
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April 7, 2009 at 11:13 PM #378535April 7, 2009 at 11:42 PM #377921
CoronitaParticipant[quote=Sandiagon][quote=sd_matt]I moved two thirds of my savings from Wells to Cabrillo Credit Union a couple months ago. Unfortunately Cabrillos customer service kinda sucks so I’m just letting the $$ sit there and continuing to use Wells for day to day. No easy answer. [/quote]
I believe credit union’s insurance is not as good as FDIC. Does anybody have any experience with bankrupt credit union?[/quote]
Currently NCUSIF is that it is self funded by credit unions. It is has not been funded by the Fed, though the Fed supposedly backs it.
I dug up this blog entry on about it. However, as any blog entry applies, take it with a grain of salt. I do not know “how safe” NCUSIF is relative to FDIC. It’s worth investigating.
You probably and dig around here.
http://www.cutimes.com/Pages/default.aspx
My understand of what is sort of happening is. A few corp credit unions are failing. As part of covering the failure, NCUA told credit unions to pony more money into NCUSIF. Credit unions said, “um, no”. NCUA, took care of part of the problem through some accounting. NCUA now seeking Fed help to bailout failing corp credit unions so as to not take a hit as much in NCUSIF to avoid increases in premium paid by other credit unions.
April 7, 2009 at 11:42 PM #378197CoronitaParticipant[quote=Sandiagon][quote=sd_matt]I moved two thirds of my savings from Wells to Cabrillo Credit Union a couple months ago. Unfortunately Cabrillos customer service kinda sucks so I’m just letting the $$ sit there and continuing to use Wells for day to day. No easy answer. [/quote]
I believe credit union’s insurance is not as good as FDIC. Does anybody have any experience with bankrupt credit union?[/quote]
Currently NCUSIF is that it is self funded by credit unions. It is has not been funded by the Fed, though the Fed supposedly backs it.
I dug up this blog entry on about it. However, as any blog entry applies, take it with a grain of salt. I do not know “how safe” NCUSIF is relative to FDIC. It’s worth investigating.
You probably and dig around here.
http://www.cutimes.com/Pages/default.aspx
My understand of what is sort of happening is. A few corp credit unions are failing. As part of covering the failure, NCUA told credit unions to pony more money into NCUSIF. Credit unions said, “um, no”. NCUA, took care of part of the problem through some accounting. NCUA now seeking Fed help to bailout failing corp credit unions so as to not take a hit as much in NCUSIF to avoid increases in premium paid by other credit unions.
April 7, 2009 at 11:42 PM #378377CoronitaParticipant[quote=Sandiagon][quote=sd_matt]I moved two thirds of my savings from Wells to Cabrillo Credit Union a couple months ago. Unfortunately Cabrillos customer service kinda sucks so I’m just letting the $$ sit there and continuing to use Wells for day to day. No easy answer. [/quote]
I believe credit union’s insurance is not as good as FDIC. Does anybody have any experience with bankrupt credit union?[/quote]
Currently NCUSIF is that it is self funded by credit unions. It is has not been funded by the Fed, though the Fed supposedly backs it.
I dug up this blog entry on about it. However, as any blog entry applies, take it with a grain of salt. I do not know “how safe” NCUSIF is relative to FDIC. It’s worth investigating.
You probably and dig around here.
http://www.cutimes.com/Pages/default.aspx
My understand of what is sort of happening is. A few corp credit unions are failing. As part of covering the failure, NCUA told credit unions to pony more money into NCUSIF. Credit unions said, “um, no”. NCUA, took care of part of the problem through some accounting. NCUA now seeking Fed help to bailout failing corp credit unions so as to not take a hit as much in NCUSIF to avoid increases in premium paid by other credit unions.
April 7, 2009 at 11:42 PM #378418CoronitaParticipant[quote=Sandiagon][quote=sd_matt]I moved two thirds of my savings from Wells to Cabrillo Credit Union a couple months ago. Unfortunately Cabrillos customer service kinda sucks so I’m just letting the $$ sit there and continuing to use Wells for day to day. No easy answer. [/quote]
I believe credit union’s insurance is not as good as FDIC. Does anybody have any experience with bankrupt credit union?[/quote]
Currently NCUSIF is that it is self funded by credit unions. It is has not been funded by the Fed, though the Fed supposedly backs it.
I dug up this blog entry on about it. However, as any blog entry applies, take it with a grain of salt. I do not know “how safe” NCUSIF is relative to FDIC. It’s worth investigating.
You probably and dig around here.
http://www.cutimes.com/Pages/default.aspx
My understand of what is sort of happening is. A few corp credit unions are failing. As part of covering the failure, NCUA told credit unions to pony more money into NCUSIF. Credit unions said, “um, no”. NCUA, took care of part of the problem through some accounting. NCUA now seeking Fed help to bailout failing corp credit unions so as to not take a hit as much in NCUSIF to avoid increases in premium paid by other credit unions.
April 7, 2009 at 11:42 PM #378545CoronitaParticipant[quote=Sandiagon][quote=sd_matt]I moved two thirds of my savings from Wells to Cabrillo Credit Union a couple months ago. Unfortunately Cabrillos customer service kinda sucks so I’m just letting the $$ sit there and continuing to use Wells for day to day. No easy answer. [/quote]
I believe credit union’s insurance is not as good as FDIC. Does anybody have any experience with bankrupt credit union?[/quote]
Currently NCUSIF is that it is self funded by credit unions. It is has not been funded by the Fed, though the Fed supposedly backs it.
I dug up this blog entry on about it. However, as any blog entry applies, take it with a grain of salt. I do not know “how safe” NCUSIF is relative to FDIC. It’s worth investigating.
You probably and dig around here.
http://www.cutimes.com/Pages/default.aspx
My understand of what is sort of happening is. A few corp credit unions are failing. As part of covering the failure, NCUA told credit unions to pony more money into NCUSIF. Credit unions said, “um, no”. NCUA, took care of part of the problem through some accounting. NCUA now seeking Fed help to bailout failing corp credit unions so as to not take a hit as much in NCUSIF to avoid increases in premium paid by other credit unions.
April 8, 2009 at 11:23 AM #378020NotCranky
Participantdeleted
April 8, 2009 at 11:23 AM #378297Participantdeleted
April 8, 2009 at 11:23 AM #378477Participantdeleted
April 8, 2009 at 11:23 AM #378518Participantdeleted
April 8, 2009 at 11:23 AM #378646Participantdeleted
April 8, 2009 at 11:26 AM #378025ParticipantI think there is come context for this post floating around here somewhere:
Funny, I am remembering the idea that “one has the morals that they can afford”. Sounds nice…that as we become freer from financial constraints we would become more ethical. I don’t don’t believe it applies very broadly.Too many excuses internalized as half learned or deliberately miscontrued generational lessons, I guess. “Gotta put food on the table” says the 500 pound snake oil salesman.
April 8, 2009 at 11:26 AM #378302ParticipantI think there is come context for this post floating around here somewhere:
Funny, I am remembering the idea that “one has the morals that they can afford”. Sounds nice…that as we become freer from financial constraints we would become more ethical. I don’t don’t believe it applies very broadly.Too many excuses internalized as half learned or deliberately miscontrued generational lessons, I guess. “Gotta put food on the table” says the 500 pound snake oil salesman.
April 8, 2009 at 11:26 AM #378482ParticipantI think there is come context for this post floating around here somewhere:
Funny, I am remembering the idea that “one has the morals that they can afford”. Sounds nice…that as we become freer from financial constraints we would become more ethical. I don’t don’t believe it applies very broadly.Too many excuses internalized as half learned or deliberately miscontrued generational lessons, I guess. “Gotta put food on the table” says the 500 pound snake oil salesman.
April 8, 2009 at 11:26 AM #378523ParticipantI think there is come context for this post floating around here somewhere:
Funny, I am remembering the idea that “one has the morals that they can afford”. Sounds nice…that as we become freer from financial constraints we would become more ethical. I don’t don’t believe it applies very broadly.Too many excuses internalized as half learned or deliberately miscontrued generational lessons, I guess. “Gotta put food on the table” says the 500 pound snake oil salesman.
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