Can credit union and coop banks replace traditional banks completely?

Edit (adding additional question): Has there been an attempt to do this on a national or societal level?

  • algorithmae@lemmy.sdf.org
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    5 months ago

    One of the main things I kinda ran into recently, credit unions are set up for private accounts and don’t do business accounts very well. I bought a car recently and the business owner was telling me that it was a hurdle to deal with large amounts of money on a regular basis with his credit union, and he didn’t have issues with his conventional bank in that regard. I don’t know the specifics unfortunately but it does make sense.