Considering moving my checking and savings to my credit union acct because every time I open my bank accts fully backed by the us govt I get worried. - ThreadSky

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lissa70.bsky.social • 14 days ago

Considering moving my checking and savings to my credit union acct because every time I open my bank accts fully backed by the us govt I get worried.

Comments

drinsomiac.bsky.social•13 days ago

It couldn't hurt to do what you're thinking of doing. First comes you and your family. Not the government!

dorid714.bsky.social•13 days ago

I do all my banking at my local credit union.

gregawagner.bsky.social•13 days ago

Credit Union accounts are guaranteed by the NCUSIF, administered by the National Credit Union Administration.

NCUA was created in 1970 by Congress and is guaranteed by the full faith and credit of the US just as FDIC.

So any credit union account is backed by the US government.

suze-63.bsky.social•13 days ago

Same. I’m going to move most of my assets to a local, black-owned savings and loan.

shamethefascies.bsky.social•13 days ago

My mom's a genius with family finances and has always used credit unions.
They're usually more democratic organizations attached to employees unions or veterans groups.
Banks HATE them.