Comment on What would happen if everyone moved there money from traditional private banks to credit unions/ coop banks

slazer2au@lemmy.world ⁨6⁩ ⁨months⁩ ago

If you get paid via direct deposit and pay with everything via a card or a mobile app, a cu can replace your bank.

If you want complex investment options than I doubt all CU can do that, but I am sure there are some that can.

If enough retail depositors withdraw all their money and moved it to a CU I suspect they may trigger bank run limits which would cause other banks to preemptively limit withdrawals.

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