Cash structure is different; they're not incentivized/ coerced/ bullied in the same way as big banks with boards of directors made up of blackrock and backyard cronies to repackage debt and create new instruments out of thin air to be sold, repackaged again and resold multiple times to inflate the paper value of the bank assets.
Credit unions are unions of individuals; they are owned by the people who have deposits in the bank. Every share of your deposits in the bank get you more representation. This is why your savings account money is called 'shares' in credit unions, but just 'deposits' in big banks. While the evil gov could try and seize these as well, it will be harder because they're not centralized in the same way or same places, so at best they can't get to them, at worst we would have enough warning time to get there first.
Meanwhile, pulling out a bit at a time in hard currency might not be the worst idea right now.
Exactly, similarly insured as FDIC by the NCUA. Don't think this idea works, may delay the inevitable if they start limiting transactions but it won't stop it.
If the US Government were to freeze bank accounts why would we think it would not involve Credit unions?
Cash structure is different; they're not incentivized/ coerced/ bullied in the same way as big banks with boards of directors made up of blackrock and backyard cronies to repackage debt and create new instruments out of thin air to be sold, repackaged again and resold multiple times to inflate the paper value of the bank assets.
Credit unions are unions of individuals; they are owned by the people who have deposits in the bank. Every share of your deposits in the bank get you more representation. This is why your savings account money is called 'shares' in credit unions, but just 'deposits' in big banks. While the evil gov could try and seize these as well, it will be harder because they're not centralized in the same way or same places, so at best they can't get to them, at worst we would have enough warning time to get there first.
Meanwhile, pulling out a bit at a time in hard currency might not be the worst idea right now.
Exactly, similarly insured as FDIC by the NCUA. Don't think this idea works, may delay the inevitable if they start limiting transactions but it won't stop it.
I’m trying to find out as well ?