Bigger = Better?

Seems financial institution are always striving to expand. A good thing? Could be, but not for me.

When I returned to Colorado in 1997, opened an account in the local bank where my mother had an account. Soon, that bank was gobbled up by Wells Fargo. Four years later I became pissed at their practices and opened an account at a very small local credit union. A year later, that credit union was acquired by Public Service Credit Union.

 Now PSCU is changing their name to Canvas CU and is going, it appears, national They are already in other states. As part of their push, they have purchased the naming rights to the Colorado State University stadium. 

My modest banking needs and credit card use are adequately served by a credit union. Plus, I think they are safer than banks comes a national financial meltdown.

A tremendous ad, IMO, and a philosophy I endorse. Doubt I will move to Gering, NE just to use this bank but I do believe smaller, locally focus financial providers are what I want.  They do more for the local community than large, more impersonal banks, IMO.

Since I believe in putting my money where my mouth is, so to speak, will start looking at what is available in my locality.

That $37,700,000 15 years deal PSCU agreed to is money that won’t be available for loans to local citizens. Pisses me off, and I’m determined my few pennies won’t go to PSCU much longer.