Few US credit unions needed bailing out in 2008 by the NCUA. Credit unions are restricted from having business loans being more than 5% or so percent of their lending portfolio.
In fact the largest corporate credit union went bankrupt partially because of credit suisse (a swiss bank) selling them garbage mortgage-backed securities.
In Canada, the credit union could not help me. I was finally ready to buy my own house after years of hard work, only for the Canadian federal government to arbitrarily change the rules. Now suddenly my credit score isn't good enough anymore, suddenly I need not double the downpayment but 4X the downpayment. And according to the government, ALL financial institutions must comply. I have not only a good job but one of the most desirable blue collar careers you can have in the whole province and the government has me forced to live in a camper. Your credit unions will not save you when the authoritarians want a new way to fuck you.
Yes, when we are living under authoritarian regimes, there is no guarantee that institutions will help. I don’t know about the situation in Canada with credit unions, but as an American, I can say they are significantly better than Banks. Maybe it’s possible the individual credit union you were dealing with a stupid
No I can proudly say that in most cases the credit union has had my back, I been with them for 13 years, this was a top down command, no financial institution could disobey as per order of the federal government. And they where as pissed as I was about it, they wanted to give me the mortgage, they WANTED my money, but if they did, the government would have legit fined any individuals signing the paperwork, right out of their own homes.
Been at a credit union for years now
Credit unions are the best in the US!
Better interest rates on deposits and loans. Less nickel and diming on fees too than banks
Few US credit unions needed bailing out in 2008 by the NCUA. Credit unions are restricted from having business loans being more than 5% or so percent of their lending portfolio.
In fact the largest corporate credit union went bankrupt partially because of credit suisse (a swiss bank) selling them garbage mortgage-backed securities.
https://en.wikipedia.org/wiki/U.S._Central_Credit_Union
The banks run the federal reserve, so of course they got themselves a bailout...
I understood you meant multinational, globalist banks, not your friendly, neighborhood credit union!
Navy Credit Union is as large as a multinational bank though, lol. Thanks, military-industrial complex!
In Canada, the credit union could not help me. I was finally ready to buy my own house after years of hard work, only for the Canadian federal government to arbitrarily change the rules. Now suddenly my credit score isn't good enough anymore, suddenly I need not double the downpayment but 4X the downpayment. And according to the government, ALL financial institutions must comply. I have not only a good job but one of the most desirable blue collar careers you can have in the whole province and the government has me forced to live in a camper. Your credit unions will not save you when the authoritarians want a new way to fuck you.
Yes, when we are living under authoritarian regimes, there is no guarantee that institutions will help. I don’t know about the situation in Canada with credit unions, but as an American, I can say they are significantly better than Banks. Maybe it’s possible the individual credit union you were dealing with a stupid
No I can proudly say that in most cases the credit union has had my back, I been with them for 13 years, this was a top down command, no financial institution could disobey as per order of the federal government. And they where as pissed as I was about it, they wanted to give me the mortgage, they WANTED my money, but if they did, the government would have legit fined any individuals signing the paperwork, right out of their own homes.
Yeah we already have too much government in the US too. Can't let people have too much freedom, eh?
Seems like it. Just a heads up, this kinda shit is coming to a state near you IF Bejing Biden gets its way.
Ron Paul said that until people understand that it's possible to live without help from the government, our problems won't be solved anytime soon.
For now there are small ways to fight back against the socialist system:
Homeschool your kids (don't worry, government schools are so bad that you can't do much worse, especially if you buy a good curriculum).
Buy guns
Buy gold