Re: JP Morgan threatens small depositors
"nicholas a. evans" <[email protected]>
| Newsgroups | gmane.music.dadl.ot |
|---|---|
| Message-ID | <[email protected]> |
On Jan 15, 2011 12:37 PM, "Lance McLain" <lance-X3DuywwxauBWk0Htik3J/[email protected]> wrote: > Yeah...In the past 2 years, I have reduced my dependence on banks drastically. Have you checked out any small local credit unions? Mine has generally been very light on fees (basically $2 when I use non-network ATMs three or more times per month, which is rare) and provides a better interest rate on my checking account than most banks offer for their savings. Depositors are automatically shareholders which goes a long way towards aligning the institution's interests with yours. You should even be able vote for board members just by keeping a balance in your account. Oddly enough, banks have long lobbied to restrict credit union memberships, add extra taxes, restrict lending, etc. Shocking I know. That's probably the scariest and saddest bit: most CU regulations were written by bankers. But, for me, that's just another reason to use a credit union; if the bankers hate it then it can't be all bad! http://www.fool.com/money/banking/banking06.htm -- Nick -- dadl-ot mailing list http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us http://news.gmane.org/gmane.music.dadl.ot