I think we’re both saying the same thing, with some differences in terminology.
This is pretty much what I was saying. The members of a co-op are its customers.
I’m not sure whether you’re differentiating banks from co-ops based on their ownership structure; to me a bank is anyone who provides banking services, and the Big Banks we all love and hate, the for-profit banking corporations, are just a subset (albeit a very large and shiny subset) of all banks.
-Sunspace (grew up in co-op housing…)
It will not go back at the end of the year, unless the law is changed by Congress between now and then. The $250,000 limit for both types of accounts was made permanent in 2010 by the Dodd-Frank Act. Cite (pdf, see Section 335(b)).
My credit union has safety deposit boxes for rent.
As does at least one near me (the one the kids’ have accounts at, actually; students in our school district were eligible for this one).
A friend told me that she knew that CUs weren’t legally allowed to have boxes; that’s not something I’d heard of anywhere else.
If we didn’t already have most of our stuff at CU#1, I’d consider moving everything to CU#2 just for the boxes. CU#3 (the one I mentioned having in my office building) is just to get a foot in the door because it happens to have locations all over the country and I figured that might be useful if we or the kids wound up moving elsewhere at some point.