TheBuyLowHobo_IHB
New member
what about OCTFCU? Can they be trusted?
Which banks are safe to maintain deposits?
- Thread starter PURPLEHAZE_IHB
- Start date
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ipoplaya_IHB
New member
Hobo - OCTFCU is insured by the NCUSIF:
http://www.ncua.gov/ShareInsurance/Index.htm
Looks like their reserves have really been hammered in recent years. They only have $200M as of the end of 2007:
http://www.ncua.gov/NCUABoard/board_reports/February21.pdf
Then again, it's a federal agency, so you'd eventually get your money back even if they had to print some new bills to pay everyone off...
http://www.ncua.gov/ShareInsurance/Index.htm
Looks like their reserves have really been hammered in recent years. They only have $200M as of the end of 2007:
http://www.ncua.gov/NCUABoard/board_reports/February21.pdf
Then again, it's a federal agency, so you'd eventually get your money back even if they had to print some new bills to pay everyone off...
bluemoon_IHB
New member
How are they going to pay us back?- They had to borrow money from China for this war.
CalGal_IHB
New member
I am going to dig a hole in the backyard for my money.
Tulip, don't forget what Momopi said . . .
Last year when I was in Taipei, I was watching TV at my grandparent's house and they showed some farmer crying about losing all his money. He didn't trust banks, so he buried his cash wrapped in plastic bags underground in his yard. But insects or worms got to it and ate everything. So, lessons learned, don't bury your cash.
Tulip, don't forget what Momopi said . . .
Last year when I was in Taipei, I was watching TV at my grandparent's house and they showed some farmer crying about losing all his money. He didn't trust banks, so he buried his cash wrapped in plastic bags underground in his yard. But insects or worms got to it and ate everything. So, lessons learned, don't bury your cash.
wendyinoc_IHB
New member
"You can have a million insured at a bank under FDIC if you do the vesting correctly."
Regina- I will give you an example. If you have a savings with the vesting of husband, wife, and Beni of 2 kids you have $500K. (Individual+ Individual+ Joint+ Beni+ Beni). The Beni can only be close relative. You can get the list at your bank or FDIC website. To get to a million you need more children. However, if you have more children you probably don't have a million
Regina- I will give you an example. If you have a savings with the vesting of husband, wife, and Beni of 2 kids you have $500K. (Individual+ Individual+ Joint+ Beni+ Beni). The Beni can only be close relative. You can get the list at your bank or FDIC website. To get to a million you need more children. However, if you have more children you probably don't have a million
CalGal_IHB
New member
I haven't read through this entire thread, so this may have already been posted.
Here's FDIC's website regarding insured deposits.
Here's a calculator that can help determine what is insured.
Here's FDIC's website regarding insured deposits.
Here's a calculator that can help determine what is insured.
ipoplaya_IHB
New member
I just fired up a new money market with a pretty darn good rate... Here's the link:
http://www.zionsbank.com/deseret.jsp
http://www.zionsbank.com/deseret.jsp
bluemoon_IHB
New member
next time fire up the Beauty Rest!