More Americans opting out of banking system

http://m.washingtonpost.com/business...8f9_story.html

Oh Boy! Another single-issue conspiracy theorist I can put on "IGNORE".

Hmmm, what are they "opting" into, payday loans? Or are they just doing the Mitt and moving it all offshore?

All his money is there wish he had gone there to watch it.

I closed my bank accounts with one major big bank about a year or so ago and went with a local CU. No fees, and I don't have to worry about excessive fees from them.

In the readers comments I agree that there are people who wish to remain "off the grid". I know folks who keep their money in coffee cans, and hidden in their house somewhere as they no longer trust banks. That is a hard way to live though since everything is geared toward "credit" and having an actual bank account.

CU guy here too ..

CU guy here too .. Originally Posted by CJ7

I have come to appreciate the local CU's.

:-)

I have come to appreciate the local CU's.

:-) Originally Posted by Sensia

+1

take dividends paid on a savings account for instance

http://m.washingtonpost.com/business...8f9_story.html Originally Posted by SEE3772

Do you realize what a honor it is for Steven to ignore you.

How can I get Stevie to ignore me? I'm tired of his caffeine-laced, incoherent tirades against common sense.

Oh Boy! Another single-issue conspiracy theorist I can put on "IGNORE". Originally Posted by Little Stevie

I call this post a "SEE3772 Special".

A title, a link, and nothing else.

How can I get Stevie to ignore me? I'm tired of his caffeine-laced, incoherent tirades against common sense. Originally Posted by CuteOldGuy

tell him, "eye luv ya" and give him a big smooch and a whipping.
maybe he'll put you on ignore.

+1

take dividends paid on a savings account for instance Originally Posted by CJ7

they're (savings account dividends) are not really worth it, unless you them in CDs which are a little bit better than savings account.

I closed my bank accounts with one major big bank about a year or so ago and went with a local CU. No fees, and I don't have to worry about excessive fees from them.

In the readers comments I agree that there are people who wish to remain "off the grid". I know folks who keep their money in coffee cans, and hidden in their house somewhere as they no longer trust banks. That is a hard way to live though since everything is geared toward "credit" and having an actual bank account. Originally Posted by Sensia

you can do that, but I guess the fun is in finding it after the person dies.

I remember reading a story about an elderly woman who passed way and was discovered to have socked away 700,000 dollars hidden in the walls and under the bed. I don't remember how they found it, might've been a renovation thing when it was discovered.

Total NON-STORY. People are leaving the traditional banking system because of the reason they are leaving land-line phones. A change in technology. People can now have part of their pay sent directly to their investments like 401(K) and the rest into a CU or Pre-Paid debit card thereby bypassing all the fees associated with a normal bank. It is simple as that and nothing sinister.