https://financialpreparedness.substack.com/p/another-bank-tanks
In conclusion, as this graphic of the Great Financial Crisis shows (zoom in), a banking/ financial crisis can take a number of months to play out, though I think the next one will happen much faster due to significantly greater debt/leverage, moral hazard, complexity, stock valuations (in the U.S.), social contagion, high frequency trading, speed of capital, mistrust of government and institutions, clueless policymakers, rampant inflation, a currency that is increasingly eschewed around the world (the U.S. dollar), a dysfunctional labor market, an (artificial) energy shortage, a failing supply chain, and war (including trade wars). Just like before a major earthquake, there are warning signs. The collapse of First Republic Bank is just a tremor, a warning sign of something much larger to come. Get prepared now.
I suggest considering moving all your valuable from bank to credit union. No change to their format. Just move them as is.
Credit unions are really good for YOU the citizens. Because they give all their profits to YOU as their customers. In other words, YOU the local and domestic citizen get your credit union profits. In comparison, most banks profit are often hoarded by secret & foreign shareholders. In other words, credit unions value YOU the people above money.
"In the US, public trust in credit unions stands at 60%, compared to 30% for big banks"
"Small businesses are 80% less likely to be dissatisfied with a credit union than with a big bank."
u/#paw
List of credit unions to choose from:
• Canada at https://ccua.com/about-credit-unions/facts-and-figures/largest-100-credit-unions/
• United States at https://en.wikipedia.org/wiki/List_of_credit_unions_in_the_United_States
Source and details:
• https://en.wikipedia.org/wiki/Credit_union
___• https://archive.md/94hyY
• https://blog.glia.com/4-major-differences-credit-unions-banks/
___• https://archive.ph/2M4pm