The Research Design Associates Blog

(credit unions)

My bank went bust

Much to my chagrin I found out that MY small local bank failed last Friday. was interested in a bank serving the local community and accountable to it in preference to multinational investors. I’m a bit stuck on real estate loans backed by land and not multiply sold paper. I remain troubled by the creation of the image of wealth or security in the absence of that value during the housing bubble. No I’m not harking back to the gold standard. We do need new financial vehicles. However I want my checking account, credit card and debit card fees to reflect the cost of those transaction, not to be building a pool of money to drive risky Wall Street commoditized investments.

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Credit Unions - Meeting Members' Needs

Credit Unions offer real banking alternatives. Notable is its strong support for business accounts, a hard-to-find service in many other credit unions. Business deposit accounts and lending are supplemented by merchant card services for credit and debit card transactions and Automated Clearing House (ACH) electronic transfers – services usually associated with fee-charging commercial banks. Funding comes from member accounts - $1. per month per deposit account provides a $25 million source for community college and university scholarships, grants to state museums and the national guard, as well as an innovative teacher housing project.

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No Fees, Please - We're Credit Unions!

Millions of Americans were able to relax when a certain behemoth financial institution announced this week it would begin to charge five dollars a month for customers to use debit cards for non-ATM transactions. Why? Because as much as the profit-driven banks like to ignore them, credit unions with their 91 million members will never follow that model. Since 1909, credit unions have provided service based financial safe havens for their members.

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