These people are really trying to wreck our economy, aren't they?
Welcome to socialism. This is what the big banks want and this what the USA owned banks will get.
Remember when you left your bank for a credit union because the slogan for you bank became “a service charge waiting to happen”??
Well guess what? Your credit union is going away and Mr. Service Charge Bank is now your only option.
Gov’t doesn’t need to raise taxes, just service charges!!
gnip
The credit unions avoided the crummy loans that slammed the banks and are now being penalized for their prudence. Can’t have the proles putting their money into something other than Ministry of Truth Bank.
ping?
TBTF (Too big to fail)
Shut up and pay!
New mantra of America
Why am I getting this urge to put my fiscal resources in a safe at home versus any banking institution in the WORLD right now.......
Ping.
Time to sharpen the pitchforks and soak the torches in pitch. Who do these sonz@bitches think they are?
Credit unions are popular alternatives to banks. They are owned, in effect, by their depositors. Without corporate profits or shareholders to worry about, credit unions can offer higher interest rates on savings accounts and charge lower rates for mortgages, auto loans or other financial help.
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Another thing Credit Unions don’t have to worry about? TAXES! Credit Unions are a dinosaur, they should be held to the same standards as commercial banks.
Why in the heck are they buying mortgage-backed securities? That is not part of the mission of a credit union.
Bailout, it’s the gift that keeps on giving.
I worked in the banking industry most of my life, spending 2 years at a credit union. They need to be assessed to bail out U.S. Central Federal Credit Union.
Keep in mind, CU’s don’t pay federal tax or any tax - now, on it’s surface that seems fine, but looking at it from the inside out - it’s a taxpayer rip off. Now, I know that they are owned by members, but the fact is they are not out to service the little people as they say they are with being the reason they were created in the first place.
Second step, CU’s should pay tax just like any other business.
Federal credit unions, including those serving millions of military patrons, are fighting to keep off their books nearly $5 billion in charges that regulators have assessed to bail out... [t]he U.S. Central Federal Credit UnionCredit unions are member-run organizations. Can't have independent entities running around with financial resources, now can we?