I thought that too but credit unions also rely on the banking system (i.e. big banks) to cycle their money.
The system is too intermingled, and they will be affected. Think that the people who have CU accounts deposit their paychecks, if they don't get paychecks from the banking system, then NO MONEY.
Are credit unions more safe?
Probably not. This is not financial advice
I thought that too but credit unions also rely on the banking system (i.e. big banks) to cycle their money.
The system is too intermingled, and they will be affected. Think that the people who have CU accounts deposit their paychecks, if they don't get paychecks from the banking system, then NO MONEY.