Can credit union and coop banks replace traditional banks completely?
Banks would go out of business and credit unions would look a lot more like banks. This is assuming both business and personal accounts move. If just personal accounts move, not much happens.
asdfasdfasdf@lemmy.world 4 months ago
IDK why people are interpreting your question about the mechanics of everyone switching at the same time. It sounds to me like you’re asking more about the bigger picture problems it would solve with society, not whether the sudden change would be able to be handled by the banks. Is that what you’re looking for?
Twoafros@lemmy.world 4 months ago
Thanks for your answer. You’re right, I was hoping to get more answers on the bigger picture change that would happen to society. Particularly since coops and credit unions are more democratic in nature, I wonder how different society would be with more direct control of how they money is managed.