Sunday, December 19, 2010

Check your head, er, credit union!

Found this link the other day, so you can search for credit unions in your area, and see where they stand as far as holding troubled assets, compared to the national median.

I bring that up, because over on zerohedge, there was an article today regarding legislation that was passed in the Senate recently (S. 4036).

Nothing that major, but if you read the article on zerohedge, alot of it begins to make sense. It seems as if Credit Unions, will be able to be bought up by too-big-to-fail banks, after the Credit Union converts to a Mutual Savings Bank, then before ever operating as a stand alone bank of this type, convert to a bank and be bought up.

So if you use a credit union, you may want to check the strength of your Credit Union, and others in your area, and make sure you are in a safe one, that is not likely to be bought out (or even fail).

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