Here is late: Some Good News Banking

I know that happens assessment from the IMF reportedly said that for all toxic and will be in balance sheet assets and liabilities of banks and insurers have been even higher than $ 4 trillion, and realize that this week FDIC OvBefore you write them, however, important that we clarify our terminology. When it comes to the current crisis, all banks will certainly not created equal - or equally culpable. As Edward Yingling, president and CEO of American Bankers Association, indicated in his letter that he sent to President Obama in February: "Wall Street and Main Street banking is different." These Main Street bank continued to do . According to the Federal Reserve System, the total business lending at banks is 12 percent in 2008 - raskryazhevki behavior scale lending in the past six recession. In fact, a new survey of the National federation of independent business, it was found that only 8 percent of small businesses reported difficulties in obtaining financing is necessaryerbey view of two banks - 22 and 23 years of acquisitions.

Another bright spot on the face of banking in front of credit unions. And participating in the capital close to their record levels of lending to its own balance sheet. Unlike large banks, credit unions, with the maximum three-month profits among shareholders are, but that does not belong to the member with stability and want the service. Because their aim is not to maximize short-term profits, credit unions to meet a large steered axles risky subprime loans. Own balance sheet as a result may well Geithner stress test. Eighty-five million Americans belong to credit unions. And for Credit Union National Association, as in the middle of 2008, the members on mortgage delinquencies were only 0.7 percent. Credit Union loans made by credit unions, such as approximately 70 per cent opposed to being sold on the secondary market. Banks and credit union members in 2008 than low wages and high interest rates on savings offered through the bank rather than a credit union is recorded $ 10.9 billion.

"I think experience suggests that if you are looking for a secure financial institution in these turbulent times, and I think small, local ... I think that looking for the banking and credit institutions that have ties to your community." When you're done, you can rest assured that the deposits in credit unions insured by the government, backed by the National Credit Union Share Insurance Fund - the equivalent of the founding credit union.