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Author Topic: our own currency project  (Read 2096 times)

maxxoccupancy

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Re: our own currency project
« Reply #15 on: May 04, 2006, 03:56 AM NHFT »

It can't be that hard, but it takes some capital to get started. There's a reason why financial institutions tend to have investors 8-).

Who says we have to make our money by lending?  If we own mutual fund based accounts through such a credit union, then those accounts are not used for lending.  The depositer pays the requisite fees for the account.  Mutual funds usually take 2% of your total per year, but index funds take just 0.2%

If membership in this credit union is paid with a flat $8-10 a month fee per customer, then who is to say that this is wrong?  I already pay more than that for "free" checking.

--Max
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Pat McCotter

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Re: our own currency project
« Reply #16 on: May 04, 2006, 06:42 AM NHFT »

It can't be that hard, but it takes some capital to get started. There's a reason why financial institutions tend to have investors 8-).

Who says we have to make our money by lending?  If we own mutual fund based accounts through such a credit union, then those accounts are not used for lending.  The depositer pays the requisite fees for the account.  Mutual funds usually take 2% of your total per year, but index funds take just 0.2%

If membership in this credit union is paid with a flat $8-10 a month fee per customer, then who is to say that this is wrong?  I already pay more than that for "free" checking.

--Max

$8-$10 a month in fees! I'm sorry, I'll keep my money in my mattress!
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Dreepa

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Re: our own currency project
« Reply #17 on: May 04, 2006, 03:01 PM NHFT »

[If membership in this credit union is paid with a flat $8-10 a month fee per customer, then who is to say that this is wrong?  I already pay more than that for "free" checking.

Credit Unions usually have no fees.
Recently Credit Unions have been acting more like banks; trying to grow bigger, gaining new groups that are outside of their core membership, and charge monthly fees.

The minute any account I have charges a fee.. I will close that account.
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PowerPenguin

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Re: our own currency project
« Reply #18 on: May 05, 2006, 12:37 AM NHFT »

I don't have any fees either, as long as I don't get tagged for overdrafts on my checking account. Expenses should be taken out as a small % of income from investments, loans, etc. as existing CUs already do.
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Atlas

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Re: our own currency project
« Reply #19 on: May 05, 2006, 01:17 PM NHFT »

I still like what I here.
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PowerPenguin

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Re: our own currency project
« Reply #20 on: May 07, 2006, 01:47 AM NHFT »

You mean "hear"? Also, what do you mean?
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MattLeft

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Re: our own currency project
« Reply #21 on: May 07, 2006, 09:55 AM NHFT »

Max--

I like the way you're thinking.  The idea might need a lot of work...hell it might be wholy unfeasable.  But it'll be valuable knowledge whether it flies or falls.
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PowerPenguin

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Re: our own currency project
« Reply #22 on: May 08, 2006, 01:01 AM NHFT »

We'll MAKE it work, damnit! 8-)
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Russell Kanning

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Re: our own currency project
« Reply #23 on: May 09, 2006, 03:31 PM NHFT »

No fees goes along with banks that have the advantage of inventing money.
Would this CU be connected to the fed system for check clearing, debit system etc.?
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PowerPenguin

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Re: our own currency project
« Reply #24 on: May 10, 2006, 02:53 AM NHFT »

Perhaps, if it's possible to do it in a non-compromising way. Otherwise no. Do you have any buddies who are creditors? It might come in handy later.
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