Credit Unions and Banks

Since the great recession, Credit Unions have gained major ground when compared to Banks. And now (at least in Wisconsin) the Bankers are complaining about an uneven playing field. What are your thoughts on these financial institutions? Personally I really like them and I feel they provide a much better service than Banks. Here is the article I read and I wanted to share it with you:

Official response from submitted

It is stunning to read that banks are complaining about level playing fields. It is the banks that have everywhere limited and constrained what credit unions could do in the interests of protecting the banks from competition from the credit unions. Now that a very few of those long-standing bank-friendly constraints are moderated, their PR folks are trying to shift the blame onto the credit unions. Gross!

Meanwhile, I agree that credit unions were and are an interesting step toward the cooperative enterprise institutions we advocate. A partial step, yes, but nonetheless valuable. Indeed, I only wish they would be more interested in supporting and collaborating with other cooperative forms to move the whole idea forward.

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  • Richard Wolff
    responded with submitted 2017-06-01 12:41:25 -0400
  • Bill Cobb
    published this page in Ask Prof. Wolff 2017-06-01 11:34:21 -0400