Bank tranfer day | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "Bank tranfer day"

Saturday, November 5th is Bank Transfer Day

Saturday, November 5th is Bank Transfer Day

Did you know?

Most shareholders of Wall Street Banks don’t even belong to their own banks in question.

A federal credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to its members (who are also its customers). Federal credit union members are provided with a safe, convenient place to save and borrow at reasonable rates, with savings insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). Certain retirement accounts are insured to $250,000.

The key difference between a bank and a credit union is that banks are owned by shareholders, not customers, and are for-profit – which leads to higher fees and rates on loans, since excess profits are returned to shareholders in the form of dividends. Contrast this with a credit union, which returns any excess to members in the form of dividends as an added bonus.  A federal credit union is member-owned and controlled through the election of a board of directors drawn from membership. Board members serve on a volunteer basis; one board member may be compensated.

To find a Credit Union in your area go to MoveYourMoney or CUlookup.

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