There may also be the fall back of setting up a small savings and checking account with a local credit union, where money is accessible if your big bank locks up funds or is considered an “out of state bank”. You still have a debit account and debit card but aren’t as affected if the big banks are nationalized or lock up your funds.
Most credit unions are safer because they don’t do derivatives, sub prime loans, and other risky investments like many banks do.
Do you think it’s wise to close a Wells Fargo account and put the money into a credit union? I thought you had to belong to a certain place of employment to be part of a credit union? Is that true?