Fuck banks. If you have access to a credit union, put your money there.

  • star_wraith [he/him]
    ·
    edit-2
    9 months ago

    Yes. Banks are no different from any other capitalist enterprise. They are owned by the capital class and the labor of the workers is exploited to make them vast amounts of money. Even your local bank with only a small handful of branches is likely owned by the wealthiest people in town (and plenty of wealthy people out of town).

    Credit unions, the customers are the owners. There are no capitalists that own it and extract surplus value. Profits are given to customers. Now... of course this doesn't eliminate exploitation. The workers still don't own the means of production nor do they have democracy in the workplace. Essentially, instead of capitalists you have customers. But personally I find this to be a better setup than a bank and given the fact that participation in the banking system is mandatory for everyone, a credit union is the best way to participate given bad choices.

    • Dumpster_fire_pants [comrade/them]
      hexagon
      ·
      4 years ago

      Also credit unions aren't investment banks gambling with your money on shady securities. Glass Stegall act repeal created the last CDO housing bubble, but credit unions walked away unscathed