What’s the Safest Bank?

[34f3f3f]

[quote=peterb]You may want to consider credit unions as they use a different insurer than the FDIC and seem to be far more conservative with their loands.[/quote]

Tells us more, Peter. I stumbled across this and insurance was up to $250k, but depositors either had to be living in the county or institutional (?). It certainly seemed like an option.

[capeman]

TreasuryDirect is about as safe as you can get and you can roll everything over in short term Ts.

I would not open a securities account on the assumption of hiding your money there. Other than treasuries if the banks runs hit hard most investments will likely dive and you won’t be getting all of your capital back insurance or not.

Careful with Credit Unions as well. They run under NCUA insurance but there is a lot less in there to cover failed banks than FDIC. I bank at Navy Fed and they were selling ARMs and 100% financing all over the place. I don’t believe they will be hit but if they were they would likely drain the entire NCUA indurance pool themselves.

[capeman]

TreasuryDirect is about as safe as you can get and you can roll everything over in short term Ts.

I would not open a securities account on the assumption of hiding your money there. Other than treasuries if the banks runs hit hard most investments will likely dive and you won’t be getting all of your capital back insurance or not.

Careful with Credit Unions as well. They run under NCUA insurance but there is a lot less in there to cover failed banks than FDIC. I bank at Navy Fed and they were selling ARMs and 100% financing all over the place. I don’t believe they will be hit but if they were they would likely drain the entire NCUA indurance pool themselves.

[capeman]

TreasuryDirect is about as safe as you can get and you can roll everything over in short term Ts.

I would not open a securities account on the assumption of hiding your money there. Other than treasuries if the banks runs hit hard most investments will likely dive and you won’t be getting all of your capital back insurance or not.

Careful with Credit Unions as well. They run under NCUA insurance but there is a lot less in there to cover failed banks than FDIC. I bank at Navy Fed and they were selling ARMs and 100% financing all over the place. I don’t believe they will be hit but if they were they would likely drain the entire NCUA indurance pool themselves.

[capeman]

TreasuryDirect is about as safe as you can get and you can roll everything over in short term Ts.

I would not open a securities account on the assumption of hiding your money there. Other than treasuries if the banks runs hit hard most investments will likely dive and you won’t be getting all of your capital back insurance or not.

Careful with Credit Unions as well. They run under NCUA insurance but there is a lot less in there to cover failed banks than FDIC. I bank at Navy Fed and they were selling ARMs and 100% financing all over the place. I don’t believe they will be hit but if they were they would likely drain the entire NCUA indurance pool themselves.

[capeman]

TreasuryDirect is about as safe as you can get and you can roll everything over in short term Ts.

I would not open a securities account on the assumption of hiding your money there. Other than treasuries if the banks runs hit hard most investments will likely dive and you won’t be getting all of your capital back insurance or not.

Careful with Credit Unions as well. They run under NCUA insurance but there is a lot less in there to cover failed banks than FDIC. I bank at Navy Fed and they were selling ARMs and 100% financing all over the place. I don’t believe they will be hit but if they were they would likely drain the entire NCUA indurance pool themselves.

[bsrsharma]

Capeman,

I think it is good to inform depositors that both FDIC and NCUA are federal government agencies and hence will stand behind any losses up to the insured amount. If the losses exceed trust fund amounts, it will most likely be replenished with open ended taxpayer funds. Not doing so would take out complete confidence in banking system. This guarantee is certainly more explicit than the implicit support behind GSE’s that is attracting treasury and Fed support now.

In summary, splitting deposits to $100K and keeping it at the highest interest paying bank or credit union deposits is no less safe than treasuries and probably more profitable.

[bsrsharma]

Capeman,

I think it is good to inform depositors that both FDIC and NCUA are federal government agencies and hence will stand behind any losses up to the insured amount. If the losses exceed trust fund amounts, it will most likely be replenished with open ended taxpayer funds. Not doing so would take out complete confidence in banking system. This guarantee is certainly more explicit than the implicit support behind GSE’s that is attracting treasury and Fed support now.

In summary, splitting deposits to $100K and keeping it at the highest interest paying bank or credit union deposits is no less safe than treasuries and probably more profitable.

[bsrsharma]

Capeman,

I think it is good to inform depositors that both FDIC and NCUA are federal government agencies and hence will stand behind any losses up to the insured amount. If the losses exceed trust fund amounts, it will most likely be replenished with open ended taxpayer funds. Not doing so would take out complete confidence in banking system. This guarantee is certainly more explicit than the implicit support behind GSE’s that is attracting treasury and Fed support now.

In summary, splitting deposits to $100K and keeping it at the highest interest paying bank or credit union deposits is no less safe than treasuries and probably more profitable.

[bsrsharma]

Capeman,

I think it is good to inform depositors that both FDIC and NCUA are federal government agencies and hence will stand behind any losses up to the insured amount. If the losses exceed trust fund amounts, it will most likely be replenished with open ended taxpayer funds. Not doing so would take out complete confidence in banking system. This guarantee is certainly more explicit than the implicit support behind GSE’s that is attracting treasury and Fed support now.

In summary, splitting deposits to $100K and keeping it at the highest interest paying bank or credit union deposits is no less safe than treasuries and probably more profitable.

[bsrsharma]

Capeman,

I think it is good to inform depositors that both FDIC and NCUA are federal government agencies and hence will stand behind any losses up to the insured amount. If the losses exceed trust fund amounts, it will most likely be replenished with open ended taxpayer funds. Not doing so would take out complete confidence in banking system. This guarantee is certainly more explicit than the implicit support behind GSE’s that is attracting treasury and Fed support now.

In summary, splitting deposits to $100K and keeping it at the highest interest paying bank or credit union deposits is no less safe than treasuries and probably more profitable.

[djrobsd]

SDCCU is interesting in the way they loan people money. I opened an account there and I was in debt over my head already, and they still gave me a $5000 visa gold credit card, and they refinanced my auto loan at a lower rate then I had with Pt Loma CU, even though my car was 4yrs old and had 60k miles on it.

On the other hand, I applied for a personal loan at a later date and they turned me down even though I had been making all my payments on time on the other loans.

I also asked them about refinancing my house, and they couldn’t qualify me, so I do say yes they are conservative in their home lending practices.

No bank or CU is safe and the FDIC may insure your account today, but if lots of banks go bust they may run out of money to cover as well.

I say there is nothing safer then PHYSICAL assets you can touch that everyone will always want, i.e. gold bars, jewelry, guns, etc. Avoid gold certificates because they are just a piece of paper, if anything happens, you may not be able to get your gold.

This world sure is getting crazy, I hope someone can fix it before it completely implodes. something tells me mccain and obama won’t be those people.

[djrobsd]

SDCCU is interesting in the way they loan people money. I opened an account there and I was in debt over my head already, and they still gave me a $5000 visa gold credit card, and they refinanced my auto loan at a lower rate then I had with Pt Loma CU, even though my car was 4yrs old and had 60k miles on it.

On the other hand, I applied for a personal loan at a later date and they turned me down even though I had been making all my payments on time on the other loans.

I also asked them about refinancing my house, and they couldn’t qualify me, so I do say yes they are conservative in their home lending practices.

No bank or CU is safe and the FDIC may insure your account today, but if lots of banks go bust they may run out of money to cover as well.

I say there is nothing safer then PHYSICAL assets you can touch that everyone will always want, i.e. gold bars, jewelry, guns, etc. Avoid gold certificates because they are just a piece of paper, if anything happens, you may not be able to get your gold.

This world sure is getting crazy, I hope someone can fix it before it completely implodes. something tells me mccain and obama won’t be those people.

[djrobsd]

SDCCU is interesting in the way they loan people money. I opened an account there and I was in debt over my head already, and they still gave me a $5000 visa gold credit card, and they refinanced my auto loan at a lower rate then I had with Pt Loma CU, even though my car was 4yrs old and had 60k miles on it.

On the other hand, I applied for a personal loan at a later date and they turned me down even though I had been making all my payments on time on the other loans.

I also asked them about refinancing my house, and they couldn’t qualify me, so I do say yes they are conservative in their home lending practices.

No bank or CU is safe and the FDIC may insure your account today, but if lots of banks go bust they may run out of money to cover as well.

I say there is nothing safer then PHYSICAL assets you can touch that everyone will always want, i.e. gold bars, jewelry, guns, etc. Avoid gold certificates because they are just a piece of paper, if anything happens, you may not be able to get your gold.

This world sure is getting crazy, I hope someone can fix it before it completely implodes. something tells me mccain and obama won’t be those people.

[djrobsd]

SDCCU is interesting in the way they loan people money. I opened an account there and I was in debt over my head already, and they still gave me a $5000 visa gold credit card, and they refinanced my auto loan at a lower rate then I had with Pt Loma CU, even though my car was 4yrs old and had 60k miles on it.

On the other hand, I applied for a personal loan at a later date and they turned me down even though I had been making all my payments on time on the other loans.

I also asked them about refinancing my house, and they couldn’t qualify me, so I do say yes they are conservative in their home lending practices.

No bank or CU is safe and the FDIC may insure your account today, but if lots of banks go bust they may run out of money to cover as well.

I say there is nothing safer then PHYSICAL assets you can touch that everyone will always want, i.e. gold bars, jewelry, guns, etc. Avoid gold certificates because they are just a piece of paper, if anything happens, you may not be able to get your gold.

This world sure is getting crazy, I hope someone can fix it before it completely implodes. something tells me mccain and obama won’t be those people.

[Author]

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