That depends what you mean by local files: On the Mac, at least, it will keep local backups. See the Backups menu item. Admittedly, the backups are not in a con

That depends what you mean by local files: On the Mac, at least, it will keep local backups. See the Backups menu item. Admittedly, the backups are not in a convenient format, rather being json files containing encrypted blobs. But there is a utility for decrypting all the files. So if you are merely worried about losing access, you're covered. So long as you don't lose your password, that is. But for sure, other solutions work better if you have less stringent security requirements.