Wait, as a bank? I’m suprised your uni has one as I expected them to be quite hard to run. Wouldn’t you need to employ a couple of good economists to invest the money, keep a part liquid, etc. for you?
I’ve seen a handful of "university of [place name] credit union"s I imagine it’s a case of “we already do some financial products, might as well cut out the middle man and make it a branch of the business”
I also worked at a regional bank with about 20 locations. Out of the 120 or so employees most were tellers and branch managers, then only about a dozen were behind the desk people doing literally everything else keeping the lights on, so in terms of headcount it doesn’t take that many people to run a small bank. Hardest part is raising the capital to get a bank charter (I think that’s like 10 million dollars for a single location last I looked)
Just found out about credit unions. Banks, but non-profit. How did I not think of this earlier!?
And now you learn about housing co-ops: Renting, but non-profit!
Yes! And Community Land Trusts. I don’t know what this political position is called but I totally support it. Perhaps ‘Fairtrade Capitalism?’
Bruh, this is literally Market Socialism.
TIL I am a Market Socialist
That’s socialism, baby!
My local uni has a credit union and no one uses anything else lol
Wait, as a bank? I’m suprised your uni has one as I expected them to be quite hard to run. Wouldn’t you need to employ a couple of good economists to invest the money, keep a part liquid, etc. for you?
I’ve seen a handful of "university of [place name] credit union"s I imagine it’s a case of “we already do some financial products, might as well cut out the middle man and make it a branch of the business”
I also worked at a regional bank with about 20 locations. Out of the 120 or so employees most were tellers and branch managers, then only about a dozen were behind the desk people doing literally everything else keeping the lights on, so in terms of headcount it doesn’t take that many people to run a small bank. Hardest part is raising the capital to get a bank charter (I think that’s like 10 million dollars for a single location last I looked)