Start Your Own Bank

[austinosphere]

I wonder what the requirements are to start a very small bank or credit union.

VERY SMALL.

Could such a "bank" be formed as a coop between different CRH in a certain area?

Or if that idea is too crazy, is there a very small bank or credit union that such a coop of CRH could partner with?

 

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[jim4silver]

In addition to other requirements, I believe that states have requirements of minimum capital that must be owned by new banks before they can open, usually a few million dollars or more depending on the state.

Jim

 

[d2arcing]

would be weird... but I don't understand how some cash for gold places give out loans... and also american express now has a savings account... weird stuff to me

 

[spjegues]

I looked into it - My wife audits a credit union and there is all sorts of red tape and capital requirments. If it is a state with alot of regulation it would be very hard to pull off. What I think would be easier to partner with like loomis or brinks and get an account with them . Has anybody tried that - just getting directly from them and dumping with them ?

 

[SFBayArea]

If I had the funds to start a Bank, I would rather start a hedge fund instead. A hedge fund would make a lot more than a bank or CRH.

 

[Rich Hartford]

If I had the funds to start a Bank, I would rather start a hedge fund instead. A hedge fund would make a lot more than a bank or CRH.

 

[MZKITY62]

I do not know about now, but in the 60's my credit union started out with 6 original members and $45.oo. That is right, just fourty-five dollars!

 

[mistergee]

What I think would be easier to partner with like loomis or brinks and get an account with them . Has anybody tried that - just getting directly from them and dumping with them ?

someone here a long time ago was going to do just that. can't remember all the details but he was gomnna have them drop off boxes to his house. alot of us on here told him not to because we thought it would bring attention to him and possibly set him up for a robbery or home invasion. i think it turned out that they won't do private delivery.

 

[AGCoinHunter]

What I think would be easier to partner with like loomis or brinks and get an account with them . Has anybody tried that - just getting directly from them and dumping with them ?

someone here a long time ago was going to do just that. can't remember all the details but he was gomnna have them drop off boxes to his house. alot of us on here told him not to because we thought it would bring attention to him and possibly set him up for a robbery or home invasion. i think it turned out that they won't do private delivery.

Someone over on realcent has reported that he dumps directly to a carrier. I still am trying to figure out how he does it. I suspect he has a business and a business account with them which allows him this ability.