Send to a Friend

cockswain's avatar

If millions of people moved their money from banks to credit unions over the course of a year, what impact would that have on the economy?

Asked by cockswain (15276points) October 30th, 2011

I don’t really have a lot of details to add. I was contemplating this for a bit and want more opinions. I understand why a run on banks would be bad, but am uncertain how the transfer of the wealth would affect the economy. Hopefully your opinion is rooted in economic theory and not rhetoric.

Using Fluther

or

Using Email

Separate multiple emails with commas.
We’ll only use these emails for this message.