Sorry to bust your bubble guys.
Credit Unions, at least in America, used to be independant of the Govt. machine know as the Fed. Res. Bank and the FDIC.
I've done some searching and asking questions of our credit unions try to find a safe harbor the last six months.
They have all been pulled into the system in the last 15 years. CUNA is just another word for FDIC. They used to in the old days loan against
deposits. It made less available for them to lend out, but very strong, and hard to get a loan the first time.
All they do now, is what the banks do, leveraged borrowing. Thin air. Make money by typing into a computer backed by the Fed. Res. Banking system.
www.cuna.org...
Here is a nice letter from 2002
At the time, CUNA had 90% of the Credit Unions.
www.cuna.org...
They are suppose to be "Non-Profit". If they are non-profit, where does all that interest money go? Do you get it back in extreme interest from your
savings account with them? No
It's all a fantisy. It's now a bigger scam than the banks from what I can find. Instead of the bank (credit union) making profits, it all goes back
to the Fed. Res. Bank instead. So really, they make more profit this way.
Cash is still king. The gun is the best security measure.
Even if you put it in a deposit box, if the bank closes, your screwed. And if the Govt. takes over the bank, you do not think they will not go through
those boxes? Yeah right!
Wow! That was my first Conspiracy and I just pulled facts from their own site! Wow.
OP, Flag for this thread to bring some light...........