A few weeks ago, Bank of America moved derivatives, worth tens of trillions in potential losses, from their investment banking arm to their deposit banking arm. That way, if the things explode, they’re backed by $1 trillion in bank deposits. Half are insured by the FDIC, half are not insured. In all, we each may have given $3,470 to BoA, the usual passing of the 99%’s losses to the 1%.
I’d like to pull the Goldstein family accounts from BoA, and place them in a credit union. But which one? I’d appreciate any suggestions from BMG’s cognoscenti. In particular, easy/cheap ATM access would be nice.
Thanks in advance!
Please share widely!
If you are considering a more traditional bank, you might consider these guys, who are still mutually owned and who acquired the socially progressive Wainwright Bank a couple of years back.
We have been members of Metro Credit Union since moving to Mass in ’83 and have always been pleased with the service and accessibility. They are part of the SUM cooperative network and reimburse any ATM fees incurred by using the network.
Many CUs now offer membership to residents of their area, so you don’t have to work for a particular company or whatever. In the Lowell area, Jeanne D’Arc CU is pretty good. They reimburse all ATM fees from any machine, and they have branch offices scattered around that part of the Merrimack Valley.