Is it safer to have money in a CU?
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I recently took half of my savings account (a tidy sum) and moved it from my bank to a local credit union that has a long history if stability and is well regarded in my area. Credit unions are forbidden by law to invest in derivatives, and my bank is rather heavily invested in them. If it all goes belly up, it is the derivatives that will bring down the banks, IMHO.
Sorry to necro this thread, but do you think the banks will only take savings accounts? Will they also touch checking? Would love your opinion!
Oh I'm quite sure they will not leave anything untouched; however, my preparations are unique to me and I have "reasons" to leave some portion with the bank. I won't go into those reasons, but they involve other people, so...
Great decision.