They make their money by investing mine. In return, they provide me a safe place for my cash and financial services. Fair deal. I'm OK with that.
Having said that, fuck banks for private individuals. Go credit union, all the way. And while we're at it, call your bank and tell them you don't want overdraft protection. They have to turn off the NSF fees, and that's not my opinion and it's not negotiable. It's law in the US.
Just found out about credit unions. Banks, but non-profit. How did I not think of this earlier!?
And now you learn about housing co-ops: Renting, but non-profit!
Yes! And Community Land Trusts. I don't know what this political position is called but I totally support it. Perhaps 'Fairtrade Capitalism?'
My local uni has a credit union and no one uses anything else lol
Wait, as a bank? I'm suprised your uni has one as I expected them to be quite hard to run. Wouldn't you need to employ a couple of good economists to invest the money, keep a part liquid, etc. for you?
I've seen a handful of "university of [place name] credit union"s I imagine it's a case of "we already do some financial products, might as well cut out the middle man and make it a branch of the business"
I also worked at a regional bank with about 20 locations. Out of the 120 or so employees most were tellers and branch managers, then only about a dozen were behind the desk people doing literally everything else keeping the lights on, so in terms of headcount it doesn't take that many people to run a small bank. Hardest part is raising the capital to get a bank charter (I think that's like 10 million dollars for a single location last I looked)
I've lived in several places and at least two of them (including the one I have now) had a credit union as a university thing that only people affiliated with a university can use. I have one now because my wife used to work at the university, so we qualified for them then and you get to keep them even if you no longer are affiliated.
I wish you got to keep your right to pay for a membership to the university sports complex. Seriously, if you were an employee or student, you could pay $15 a month to use the track and pool and weight room and stuff. But if you weren't attached to the university, there is no amount you could pay to use it. They also made employees pay for parking. My wife has worked for two universities. Both of them made her pay for a university parking sticker. But, again, if she or I wanted one now, we couldn't get one. What the fuck.
Bank accounts, you mean the one place most people specifically do get interest, the opposite of what this post is pointing out?
Mine doesnt. I cant find the data about how many accounts do.
Wow, you really shouldn't have your money in any accounts that aren't giving above-inflation interest
Savings accounts get interest. Paychecks usually don't get deposited in them and people don't have enough left over to save much anyway.
It's like 0.5% but my credit union has interest on checking lol
Those pay dividend
That's stock.
Idk why I was down voted. You get dividends from stocks and interst from bank accounts.
Definition: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment
If you have a credit union instead of a bank they may call it a dividend because you are a member of the union.
Not all stock.
Not all but some.
Definition: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment
No. My checking and savings bank accounts both pay dividends on a monthly basis.
wait til you hear about bank accounts
They make their money by investing mine. In return, they provide me a safe place for my cash and financial services. Fair deal. I'm OK with that.
Having said that, fuck banks for private individuals. Go credit union, all the way. And while we're at it, call your bank and tell them you don't want overdraft protection. They have to turn off the NSF fees, and that's not my opinion and it's not negotiable. It's law in the US.
Just found out about credit unions. Banks, but non-profit. How did I not think of this earlier!?
And now you learn about housing co-ops: Renting, but non-profit!
Yes! And Community Land Trusts. I don't know what this political position is called but I totally support it. Perhaps 'Fairtrade Capitalism?'
Bruh, this is literally Market Socialism.
TIL I am a Market Socialist
That's socialism, baby!
My local uni has a credit union and no one uses anything else lol
Wait, as a bank? I'm suprised your uni has one as I expected them to be quite hard to run. Wouldn't you need to employ a couple of good economists to invest the money, keep a part liquid, etc. for you?
I've seen a handful of "university of [place name] credit union"s I imagine it's a case of "we already do some financial products, might as well cut out the middle man and make it a branch of the business"
I also worked at a regional bank with about 20 locations. Out of the 120 or so employees most were tellers and branch managers, then only about a dozen were behind the desk people doing literally everything else keeping the lights on, so in terms of headcount it doesn't take that many people to run a small bank. Hardest part is raising the capital to get a bank charter (I think that's like 10 million dollars for a single location last I looked)
I've lived in several places and at least two of them (including the one I have now) had a credit union as a university thing that only people affiliated with a university can use. I have one now because my wife used to work at the university, so we qualified for them then and you get to keep them even if you no longer are affiliated.
I wish you got to keep your right to pay for a membership to the university sports complex. Seriously, if you were an employee or student, you could pay $15 a month to use the track and pool and weight room and stuff. But if you weren't attached to the university, there is no amount you could pay to use it. They also made employees pay for parking. My wife has worked for two universities. Both of them made her pay for a university parking sticker. But, again, if she or I wanted one now, we couldn't get one. What the fuck.
Bank accounts, you mean the one place most people specifically do get interest, the opposite of what this post is pointing out?
Mine doesnt. I cant find the data about how many accounts do.
Wow, you really shouldn't have your money in any accounts that aren't giving above-inflation interest
Savings accounts get interest. Paychecks usually don't get deposited in them and people don't have enough left over to save much anyway.
It's like 0.5% but my credit union has interest on checking lol
Those pay dividend
That's stock.
Idk why I was down voted. You get dividends from stocks and interst from bank accounts.
Definition: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment
If you have a credit union instead of a bank they may call it a dividend because you are a member of the union.
Not all stock.
Not all but some.
Definition: Dividend refers to a reward, cash or otherwise, that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment
No. My checking and savings bank accounts both pay dividends on a monthly basis.
That's interest
https://www.google.com/search?q=checking+account+dividend
That's from a credit union not a bank
I dunno. On my bank statement they are titled as "Credit Dividends"
Interest and dividends are not the same thing.