The new branch of Bank of the World just opened in my town. I decided to move all my accounts out of the credit union here. With the amount that I travel, it just didn't make sense to use one of those "local" banks. I always had to worry about if I would have access to an ATM where I was staying. I had to keep excess cash on my at all times so that I wouldn't have to worry about running out. Then all I had to worry about was getting mugged.
That credit union was nice. The personal service was cool, but I'm not a big fish, I don't need a personal banker holding my hand and sucking up to me for every move. I did like that they invested in the community, but having my money there just wasn't good for me. I need to have all the access and conveniences of a bank that is world-wide. I'm sure those little banks are great for a lot of people, but they just don't work for me.
Bank of the World claims that they aren't like those other big banks that caused that huge mess here in 2008. They are supposed to be investing in lots of small businesses and keeping a lot of capital on hand to take the loss from defaults.
It all sounds pretty good. Coupled with the new regulations, hopefully it'll live up to the hype. Guess we'll have to wait and see.
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