A post submitted by CGI member Morgan.

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https://www.google.com/search?client=opera&q=do+credit+unions+do+bailins&sourceid=opera&ie=UTF-8&oe=UTF-8

Bank vs: credit union. It seems the bail-in strategy is not part of the credit union system.

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Then there's:

Does The Money In Your Bank Account Really Belong To You?

https://www.sgrlaw.com/does-the-money-in-your-bank-account-really-belong-to-you/

Given the economic uncertainty caused by the current health crisis, many borrowers may be forced to default on loans or lines of credit they have with their banks. It is therefore an important time to understand the legal relationship between a bank and a depositor, and the bank’s right of setoff.

Take a look at the balance in your checking or savings account. How much of that money actually “belongs” to you? You may be surprised to learn that, in New York, the funds in a general bank account do not technically belong to the depositor. At the moment of deposit, the funds become the property of the depository bank.

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Does the money in a credit union belong to you?

https://www.google.com/search?client=opera&q=does+the+money+in+a+credit+union+belong+to+you&sourceid=opera&ie=UTF-8&oe=UTF-8

Yes, when you deposit money into a credit union, it's essentially yours. The money you deposit is part of a larger pool that the credit union uses to make loans to other members, but it's always yours to withdraw when you need it. You are also a part owner of the credit union, and your deposits are considered a "share" in the cooperative.

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When we were still with a bank (Former S & L that had been taken over several times by another institution.), we planned on going to a credit union for a long time, and finally got off of our butts and moved our money when we read about Wachovia giving someone counterfeit bills. Gods, sometimes it takes a slap upside to get some of us to get a move on, but we finally did and have never been happier.

Now that you know this, and if you have the option of moving to a C/U, WHY DO YOU STILL HAVE A BANK ACCOUNT NEXT WEEK??????!!!!!!