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If everyone moved their money to credit unions, they'd become just as bad as banks.
by LastTrain 4y ago
If everyone moved their money to credit unions, they'd become just as bad as banks.
- kelseyfrog 4y agoI don't consider size to be the primary determiner of how banks operate re: good or bad. I consider the ownership model to primarily determine incentives and behavior. They are, of course, are not uncorrelated, but rather when attributing primary cause, I see credit unions incentives aligned with their clientele because they are one and the same. Whereas banks have a larger discrepancy between owners and customers.
- OkayPhysicist 4y agoA bank exists to serve the interests of their shareholders, a credit union exists to serve the interests of their members. Unless you happen to be a significant shareholder in your bank, credit unions are more aligned with your interests.
- willcipriano 4y agoAll things exist to serve the interests of itself.