ApatheticNoMore
6-12-12, 2:12pm
Ok we're all supposed to put our money in credit unions, but the last I investigated the rate of return on them is quite low (over 3 years I would have lock my cash away (in CDs at the credit union) to get a rate of return still lower than I get in a totally liquid online bank account!). And I know the returns everywhere are poor now, but the online bank account while having a low rate of return still beats the credit union hands down in rate of return.
So the credit union pitch is really: you SHOULD sacrifice any return at all (and it's not like it's even keeping up with inflation really regardless) for the sake of doing the right thing and leaving those evil banks. Well maybe I should. But hmm, is it any surprise I keep procrastinating? :) And I believe that so much of the system as such is basically evil. I believe that many large corporations and government are involved in a high degree of evil. And yet still. Maybe I don't even think credit unions are AWAY enough from it all. Am I absolutely positively sure they don't lend money to the large corporations that are part of the problem?
But also the rate of return IS aweful. And I never see this mentioned when people say we SHOULD move to credit unions, they never mention it as principled sacrifice (of potential return). But isnt' it? By the way I'll pay more for fair trade, I'll pay more to buy the recycled paper products etc.. but accepting the credit union rates of return is still hard. So what do you do? Take the rate cut, accept that you'll earn a small percent of what was already a small precent and do the right thing? Or are you greedy as well and sticking with the bank? :)
So the credit union pitch is really: you SHOULD sacrifice any return at all (and it's not like it's even keeping up with inflation really regardless) for the sake of doing the right thing and leaving those evil banks. Well maybe I should. But hmm, is it any surprise I keep procrastinating? :) And I believe that so much of the system as such is basically evil. I believe that many large corporations and government are involved in a high degree of evil. And yet still. Maybe I don't even think credit unions are AWAY enough from it all. Am I absolutely positively sure they don't lend money to the large corporations that are part of the problem?
But also the rate of return IS aweful. And I never see this mentioned when people say we SHOULD move to credit unions, they never mention it as principled sacrifice (of potential return). But isnt' it? By the way I'll pay more for fair trade, I'll pay more to buy the recycled paper products etc.. but accepting the credit union rates of return is still hard. So what do you do? Take the rate cut, accept that you'll earn a small percent of what was already a small precent and do the right thing? Or are you greedy as well and sticking with the bank? :)