Unfortunately big or small doesn't matter, the make or break is Basel3/ISO 20022 compliance.
(among other things it's a chain of custody like system that makes money laundering impossible)
Any bank or credit union that isn't compliant won't be able to exchange money(any money) with compliant banks(not compliant with the new system? well that's tough shit sonny but we can't risk trading with you), chances are you wouldn't even be able to make a private fund transfer or pay a bill between the two.......
Kinda hard to stay afloat when no one will take your 'money' and no one can/will transfer you any of theirs(bank executives literally being lynched in streets/beaten to death by mob and banks burned to the ground because they don't have physical means(gold or similar) to give their customers their money or to transfer to a complaint bank and taking what there is to cover themselves...it will be , ugly..)
I was mostly referring to knowing my Banker, Manager, etc. Been with the same Credit Union when I was poor, and now that I am... not poor. :) Always treated amazingly.
Probably not. ¯/_(ツ)_/¯ But, also, use a credit union.
Unfortunately big or small doesn't matter, the make or break is Basel3/ISO 20022 compliance.
(among other things it's a chain of custody like system that makes money laundering impossible)
Any bank or credit union that isn't compliant won't be able to exchange money(any money) with compliant banks(not compliant with the new system? well that's tough shit sonny but we can't risk trading with you), chances are you wouldn't even be able to make a private fund transfer or pay a bill between the two.......
Kinda hard to stay afloat when no one will take your 'money' and no one can/will transfer you any of theirs(bank executives literally being lynched in streets/beaten to death by mob and banks burned to the ground because they don't have physical means(gold or similar) to give their customers their money or to transfer to a complaint bank and taking what there is to cover themselves...it will be , ugly..)
I was mostly referring to knowing my Banker, Manager, etc. Been with the same Credit Union when I was poor, and now that I am... not poor. :) Always treated amazingly.