With major instability in banking and unprecedented failures and buy-outs, it may feel like the only safe place to put your money is under your pillow.
While even through buy-outs like Washington Mutual's, your money remains FDIC-insured, this is a good time to consider an alternative to for-profit private banks—like credit unions.
President of a the
Inova federal credit union, Dallas Bergl, explains the difference between a private bank and a credit union:
"...Credit Unions are not-for-profit organizations offering a wide array of financial services and they are owned by their membership.
If you have an account with a credit union, you are a member and an owner. Membership is limited and you must be eligible in order to join.
These requirements vary from credit union to credit union.
As a member/owner, you have the right to both vote and run for the Board of Directors.
You get only one vote regardless of how much money you have at the credit union and all of our directors are volunteers and receive no compensation for their service. This process guarantees that your credit union is looking out for your financial interests and not that of a small group of stockholders."
Ability to get a Private Credit Union account is included with every
VRGroup's membership.(
http://boulat.com/vrgpartners.html )
This is a fantastic cash management tool for your international business!
Actually It is a high quality, pretty secure Swedish credit union which amongst other good things also offer high yield CD´s.
You get access to a credit union paying from 3 to nearly 10 times market rates on deposits and it has never missed a payment!
See Credit Union details here:
http://boulat.com/credit_union.html
Join VRGroup here
