The banking system is on the rocks again and is generating a lot of fear and trepidation among ordinary people who are asking, “How safe is my bank”?
Both individuals and businesses should be asking that question.
I can give you some immediate help. A very old acquaintance, Martin Weiss, founded Weiss Ratings to assess safety of banks, credit unions and insurance companies. It has recently expanded its rating service to crypto and stocks.
To see bank ratings on 3,540 US banks, go here.
To see S&L ratings on 2,162 S&L/Credit Unions, go here.
If you find that your money is stored in a shaky financial institution and you decide to make a switch, then obviously you want to do some research as to where to go.
Weiss has always been noted for its independence in the ratings industry. They are not “captive” or paid off to give high ratings to certain institutions and low ratings to others.