Or...Bank of the CEDAR CHEST?
Dig a hole in the back yard?
Which way should I go?
I have been banking at the same bank for over 10 years, and have been happy there. Tonite, with no prior warning, we are told the bank has failed, and our accounts are now transferred to another bank.
According to what I have been reading, my small accounts are safe, the money is still available, debit cards and checks still working. It LOOKS like all that will change, is the name of the bank.
I am nervous and worried, no matter HOW simple it all looks at the FDIC site, and the other info provided by the 'new' bank. Honestly, I feel a very strong urge, to take out all but a couple dollars, and just hide the cash.
Aunt Nellie lived through the Great Depression, and never ever trusted banks after that. I remember she kept cash hidden in various places throughout the house: between pages of her Bible, behind pictures hanging on the walls, underneath carpets....she had a ton of places she kept her money. I know she did have an account at one bank; she used it to cash her pension checks every month.
I know, back in those days, bank accounts were not guaranteed by the FDIC like they are now, but still, I am feeling very nervous.
I understand Aunt Nellie's feeling about banks a little better now.
Never mind that I have way less than the $250,000 limit they cover--I am extremely nervous right now. It is seriously tempting, to just hide cash, rather than keep it in any bank!
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2 comments:
Can't say as I blame you. I think I would be uneasy too... I think I would be finding another bank at the very least.
It is nerve-wracking, to put it mildly, and I don't even have a lot of money. On the news this morning, they showed lines at the ATM at one branch. I'm betting there were lines at all the others too.
I'm going to be checking out the other banks in the are and see what my options are, for sure.
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