Many recent diaries and comments have covered or celebrated the removal of funds from large banks and their transfer to smaller, more local financial institutions, primarily credit unions. I have been unable to participate in this massive funds transfer only because all of our savings, checking, mortgage, loans and MC/VISA have been at our credit union for years. Sincere congratulations and thanks to those who have made the move more recently in response to OWS!
The reason the overwhelming majority (nothing's ever 100%) of credit unions are the kind of place you'd want to put your money in, borrow from or otherwise do business with, is that they are cooperatives., a fact which has not been mentioned very often by diarists posting about the dramatic growth in membership and deposits in the past few weeks.
So, I thought I'd do a diary about what co-ops, credit unions included, are...
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