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Money and Finances
Reply to "Is a credit union safer than bank? Safer than vanguard?"
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[quote=FPYCparent]Not going to claim that crazy things cannot/will not happen, but per https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation: [quote]The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding.[/quote] ... [quote]The FDIC receives no funding from the federal budget. Instead it assesses premiums on each member and accumulates them in a Deposit Insurance Fund (DIF) that it uses to pay its operating costs and the depositors of failed banks. [/quote] Admittedly, I am NOT an economist and I cannot predict the future. :) However, I'd like to think we can agree on some facts to form the basis of an informed discussion.[/quote]
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