Someone recently asked me why I would take money out of the bank and put it in a credit union, as if a credit union was somehow less trustworthy than a traditional bank?
I just stared at them in utter amazement at the stupidity of their question! But you know, I have to admit that I used to actually sort of have a love affair with my former traditional bank...years ago...I thought they were marvelous at my money management...and to be truthful...the actually were...back then... now, not so much!
After monitoring the manner in which most banks "Operate" during the past few years, I can't believe anyone would have a penny of their hard earned savings in a bank. Banks today, in my opinion, operate as if our hard earned savings are made out of printed "Monopoly" play money or as if it had originated off the proverbial Money Tree that nobody seems to be able to actually locate! I sort of think that my savings deserves a better system of safety and appreciation.
It sort of makes me shake my head in amazement when you think about the young parents today who are trying to teach their children responsibility...in the face of such blatant irresponsibility, which some banks (Not all) seem to be undeniably addicted to. Whoever made this decision, to manage foreclosures poorly and tear down new housing developments wasn't the brightest crayon in the box, I believe that that is a given. As well as it's further evidence that if the banks refuse to be suitable guardians of their own assets, which in turn, has made me certain that they won't be fit guardians for my hard earned money... thus...my rather abrupt exit and then my running all the way to the local credit union with my shiny lot of pennies is entirely justified!
By the way, I've never necessarily been any type of a proponent for Credit Unions...until now...but when you realize that unlike banks, Credit Unions are owned by the depositors and they (Credit Unions) didn't make all those crazy loans because the money the do make available to loans, is only lent to other members of the credit union, and in a very closely managed and responsible manner.
I wonder where we would be if the banks used credit unions as a business model? My credit union is healthier than any bank I know of...they are churning out profits...which in turn...comes back to the shareholders...which now...is me! Trust me...this old lady likes this deal much better!
If I were a stockholder in a bank...you better believe that at the next stockholder meeting...heads would roll!
And I mean that in only the most loving way!
I wish I had these stories and these videos to earlier...it's just one more way to judge how the banks are doing...and exactly how brilliantly (Oh Brother!) that the banks are managing the billions of dollars bailout money lent to them by folks like you and me...if we only had hindsight we would have let them fall and accept responsibility for their actions.
Like children who are never required to accept the consequences of their behavior...the banks won't ever change because they really don't have to...and until they are held accountable, why should they be responsible?
They think that we'll be there to bail them out...again! Unfortunately, while the banks have not learned their lesson, I think that taxpayers have, and it would not be prudent for anyone to hand out another penny to a bank...I'm thinking along the line of riots in the streets if that scenario were to replay again after the last bailout!
Click on link below to view the two YouTube VIDEOS of new construction homes being destroyed
Click on the link below to read the full Wall Street Journal Report: "http://online.wsj.com/article/SB124112509277274533.html
Carol...still walking away and scratching her head...out of bewilderment!