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03-09-2009, 11:10 AM #1
As big banks falter, community banks do fine
As big banks falter, community banks do fine
Unlike banks on Wall Street, these smaller banks didn’t invest in risky mortgage-backed securities or complex derivatives.
By Alexandra Marks | Staff writer/ March 8, 2009 edition
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Reporter Alexandra Marks talks with Pat Murphy of CSMonitor.com about the differences between community banks and their larger brethren.
Reporter Alexandra Marks
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Wethersfield, Conn.
Despite dire headlines about the credit crunch and the shaky state of financial giants like Citigroup, the vast majority of banks in the United States are doing well.
In fact, many are actually thriving and still making loans to help to grow local businesses and keep families in their homes.
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03-09-2009, 04:36 PM #2
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good post. I moved my account from Wells Fargo to Woodforest because they have their branches in most of our Wal Mart's here, plus they are open on Sundays. No more special trips to the bank. I can bank while I get groceries.
We see so many tribes overrun and undermined
While their invaders dream of lands they've left behind
Better people...better food...and better beer...
Why move around the world when Eden was so near?
-Neil Peart from the song Territories&
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03-09-2009, 05:55 PM #3
I bank at a local credit union. It was formed to serve a k-12 school district where I used to work. No branches, no globalism, no funny money.
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