this post was submitted on 23 Dec 2023
1026 points (91.5% liked)
Memes
45726 readers
640 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I don't know that the loan concept is what's broken as much as the idea of the bank itself. To me, the idea of credit unions makes a pretty good alternative to banks. At least every CU I've belonged to has been owned by the members, and the profits they made were used to subsidize interest rates for members needing a loan or, in some cases, a portion was paid out as a dividend at the end of the year to members.