ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Banks, S&L's, Credit Unions

Is My Bank in Trouble? Check the List!

Updated on December 26, 2014
Check the list to see if your bank is in trouble.
Check the list to see if your bank is in trouble. | Source

Is Your Bank in Trouble?

Is your bank in trouble? If it was - and you knew - what would you do? Withdraw all your money or wait and see if things worked out OK? After the Armageddon like economic shake-up that we've been recently faced with, many Americans are asking themselves these questions and wondering just how safe their money in the bank really is.

Personally, because I've been following financial news and threads closely for the last couple years, I'm not surprised at the meltdown that is currently occurring. I have been antipicating a meltdown for awhile, but just didn't know how it would unfold.

Basic laws of business apply here:

The United States Government and Wall Street have been making some bad business decisions, and like any business, bad decisions eventually catch up with you. I know because I owned and operated a small business for over 14 years. When you have problems and they are not addressed they only get worse. Throwing money at the problems doesn't make them go away, it just delays the problems getting solved (contrary to popular opinion, money does not solve everything)

The 700 Dollar Billion Bailout Bill

So with the passage of the recent 700 Billion Dollar Bill to bail out Wall Street, I am cautiously optimistic. I know that unless the underlying problems that caused this mess are not addressed and cleaned up, we are going to be back to where we started, and this time we will just be deeper in the hole.

So with all this failing financial mess around us you might be feeling a little shaky about your bank, with good reason. Does that mean you should go out and withdraw all your money? Hide it under the mattress?

I'm not going to advocate doing that in this article but what I will say is that you at least have the right to know if your bank is in trouble, and if so, provide information for you to make a sound decision regarding your money. Because I am not a financial guru, I have provided a comprehensive list of important links below that can help you make better decisions with your money, and to understand how banks operate, and to understand more about whether your money in the bank is safe or not.

My Own Personal Financial Plan

As for my own personal financial plan nowadays - mine is very simple. I use cash, money orders or cashiers checks to pay my bills and live on. I closed my checking accounts a while back, cancelled my ATM card and threw away my credit cards (gasp!)

For me and my life this works just fine. When I need to cash a check I go to Walmart, and I cash it for a very reasonable fee. I also get my money orders and cashiers checks there for a very reasonable fee (I love not having to deal with those nasty bank service charges anymore!)

It has simplified my life, I am now down to only one small credit union account, which I have kept open. If I don't have cash to buy something, I don't get it. If I can't afford something, I no longer use credit to buy it. It has been a big life change, but for me one that was necessary to ensure I travel as light and simple as possible in this life. Some of you might gasp at the thought of not having an credit card but for me this lifestyle change has worked just fine. Sure I have had to make some adjustments but it was well worth it. That being said, I will never look back to my previous banking habits (which ultimately got me into trouble)

So if you are worried about your money in the bank, asking yourself if your bank is in trouble, please read up on the consequences and risks of both keeping or withdrawing your money from the bank.

Poll on Your Recent Banking Habits

Have you made changes in your banking habits because of the recent economic problems?

See results

Is Your Bank at Risk?


Submit a Comment

  • Dorsi profile image

    Dorsi Diaz 5 years ago from The San Francisco Bay Area

    @monica) I agree. Thanks for reading and the comment.

  • monicamelendez profile image

    monicamelendez 5 years ago from Salt Lake City

    Unfortunately it seems like almost every bank is in some kind of trouble or at least, part of their business is in trouble. Of course, we all over-use credit to a shocking degree and that isn't wise either.

  • Dorsi profile image

    Dorsi Diaz 7 years ago from The San Francisco Bay Area

    klaboyy) Thanks for reading!

  • profile image

    klaboyy 7 years ago

    Well just heard about alternative way of banking, i think that should solve the problem of all these banks crisis. Good hub.

  • Dorsi profile image

    Dorsi Diaz 7 years ago from The San Francisco Bay Area

    Paul)I don't feel it'a necessary for me to participate in a banks way of doing business. It's a personal choice and I feel no guilt about it. I have a private home lender, my car is paid off and I use reloadable charge cards to buy online or pay bills. I don't plan on using charge cards anymore and I don't plan on buying a new car with payments.

    Thanks for stopping by.

  • profile image

    Paul 7 years ago

    So, in essence you are actually contributing to the problem.

    What if you wanted to get a loan for a car or house?

    What if you needed to book an airline ticket? Requires a credit card.

  • Dorsi profile image

    Dorsi Diaz 7 years ago from The San Francisco Bay Area

    Hard to believe almost 2 years has passed since I wrote this hub. Seems like we are going to be in trouble for awhile- even with all this talk of recovery I don't see it happening soon. Just my humble opinion.

  • profile image

    Best Bank Rates 7 years ago

    So true if problems are not addressed on time they may grow so big that you may have to shell out 700 Billion Dollars to save your face. the best option in business and government is to take the problem by its face. However in today's time we lack leaders who can stand up and bell the cat.

  • JYOTI KOTHARI profile image

    Jyoti Kothari 8 years ago from Jaipur

    Hi Dorsi,

    Well written informative hub as your others. We, India are not facing any problem with banks here.

    These are running perfectly well. No major bank failure in India.


    Jyoti Kothari

  • helenathegreat profile image

    helenathegreat 8 years ago from Manhattan

    The financial crisis is so complex, most people have no idea what's really going on. You make a good point about personal finance in general: if you don't have the cash to buy something right then, don't buy it. But financial institutions in general are not the enemy right now (at least, not all of them), and not everyone needs to withdraw their money immediately or anything. There is a reason the FDIC insures all of your deposits up to $250,000; if there were a run on the banks, then we'd really be in trouble.

  • retirementhelp profile image

    retirementhelp 8 years ago

    Very good information. People should be prepared for the fact that their bank could fail. Until banking goes back to actually using financial principles to run their operations they are going to struggle. Great Job!

  • profile image

    britney 8 years ago

    this is a nice posted a good information for me...

  • profile image

    lewis 8 years ago

    this is a nice posted a good information for me...

  • profile image

    Loona 8 years ago

    Nice hub.several in our area are in trouble. I wonder what it'slike elsewhere?

  • profile image

    Ddnold 8 years ago

    No loans, No credit cards and no bank accounts here. I along with my wife withdrew all of our savings and while we keep a checking account in a credit union we hardly ever use it. We also cashed out our 401K which cost us about $60,000 in taxes and penalties. Had we waited another 4 months we would have lost double that amount.

    The true rate of inflation in near 10%. If you have $10,000 in the bank, You are losing $1000 in purchasing power annually. As long as the rate of inflation is higher than the bank rate there is no reason to keep your money in a bank, unless of coarse you like the fact that banks are using your money, free of charge, to make money for themselves while you lose money.

  • profile image

    Donnyman 8 years ago


  • cdloanmod profile image

    cdloanmod 9 years ago from Dana Point

    So all in all, we need to at least check all bank credentials. But .. again, what if banks like Citi go bust ?

  • countrywomen profile image

    countrywomen 9 years ago from Washington, USA

    Good Hub. I never thought a day would come when we will be worried about our banks more than our personal finances...LOL

  • Dorsi profile image

    Dorsi Diaz 9 years ago from The San Francisco Bay Area

    Thanks everyone for coming by, reading and commenting. These are scary times we live in. The more information we have about things like our banks the better decisions we can make in these tough economic times!

  • nancydodds1 profile image

    nancydodds1 9 years ago from Houston, Texas

    Its very interesting and good information i got from your lens. Thsnks for sharing this information.

  • profile image

    sherlynavia 9 years ago from United States

    Hi its very nice hub with good information.

  • profile image

    luvnlyf 9 years ago

    So glad to hear that someone else is working on a cash basis--my husband and I have decided to do the same thing because of what we've been experiencing as well! Awesome!

  • profile image

    pgrundy 9 years ago

    I've been thinking about just your system for awhile here, though I haven't implemented it yet. The thing is 1) they lie to us, and 2) no one really knows what will happen next, so 3) it's probably a good idea to look out for yourself and not trust your bank to be your friend or even be there.

    Thanks for a good hub, food for thought!

  • Amanda Severn profile image

    Amanda Severn 9 years ago from UK

    And to think that it was sparked by the Clintons trying to help poorer people to get on the property ladder. This is surely the ultimate example of the Law of Unintended Consequences.

  • Chef Jeff profile image

    Chef Jeff 9 years ago from Universe, Milky Way, Outer Arm, Sol, Earth, Western Hemisphere, North America, Illinois, Chicago.

    Amanda - I've been reading a lot of European papers via

    and I am stunned at how this cancer has spread!

  • Amanda Severn profile image

    Amanda Severn 9 years ago from UK

    Chef Jeff, Things are hotting up in Europe vis-a-vis the banks. More government intervention has been necessary in Germany and Iceland. Our stock exchange is trading lower and lower. Worrying times.

  • Chef Jeff profile image

    Chef Jeff 9 years ago from Universe, Milky Way, Outer Arm, Sol, Earth, Western Hemisphere, North America, Illinois, Chicago.

    Yes, several in our area are in trouble. I wonder what it'slike elsewhere?

  • Amanda Severn profile image

    Amanda Severn 9 years ago from UK

    Hi Dorsi,

    I did away with my credit card around 15 years ago, and can honestly say it was a thoroughly sound decision. The less exposure we have to banks the better in my view. I have a lot of sympathy for the communities that have started their own alternative currency, and when I was researching my Lewes Pound hub, I was amazed at just how popular alternative currencies are becoming. I only listed a handful in my hub, but actually there are a great many out there, and some of them are extremely well-established. Perhaps we'll all end up as part of little fiefdoms using our own local coin, and accessing the banks only for business purposes. Who knows?

  • gjcody profile image

    gjcody 9 years ago

    Very interesting hub. I remember the talk years ago about it boiling down to three banks and I wondered how that was going to happen. I also remember stating to a banker about how great it was that the interest rates were so low for buying a house and he said, "It is not good ...when they stay low too long the housing industry hurts." I could not understand the concept then but ... I guess someone knew what they were doing and it wasn't the little guy. As always ..the big guys win again!! Good hub best to your success!