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?

  • shortwavesurferEnglish
    31·
    6 months ago

    I’m going to answer the last part of the question, banks and credit unions and these institutions absolutely can, will, and do limit withdrawals. When you don’t physically hold your money and it is in an institution, it is no longer your money, it is an IOU with conditions that can be rescinded at any time for any reason.