2013-07-15 Wired: The Internet Archive Rescues Bitcoiners From Banking Oblivion

[Arvicco]

http://www.wired.com/wiredenterprise/2013/07/iafcu/

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[cypherdoc]

this is a good thing.

[aigeezer]

Yes, a really good thing - a must-read, I think, and from Wired of all unlikely sources for good news about BTC.

Minor spoiler: it's got a bankster villain and a good-guy (credit union/geek) hero.

Nice find, OP.

[marcus_of_augustus]

This is not just a charitable thing but makes excellent strategic business sense.

The early adopters of disruptive innovations that large encumbents spurn are often big winners. Internet Archive Federal Credit Union for the win ... how do I buy shares? These guys are fast becoming legends.

[No_2]

This is not just a charitable thing but makes excellent strategic business sense.

The early adopters of disruptive innovations that large encumbents spurn are often big winners. Internet Archive Federal Credit Union for the win ... how do I buy shares? These guys are fast becoming legends.

+1

[DeathAndTaxes]

Internet Archive Federal Credit Union for the win ... how do I buy shares?

Um it is a CU.  There are no shareholders.  The CU is owned by members and CU strive to remain roughly break even over time as members both pay fees/interest and collect interest.  If the CU posts a profit it is returned to members on a % basis of total deposits.  However CU don't attempt to seek a profit as that would simply mean they are overcharging their members to begin with.

TL/DR All CU are owned by the members of the CU.

[Mike Christ]

Very cool stuff; I already have an account with a FCU, but if they ever happen to go anti-Bitcoin, I'll know where to go.

[Le Happy Merchant]

Makes me want to apply for an account with that credit union.