Yeah; my partner and I talked earlier this year about how switching to a credit union aligns better with our politics but, also, especially in this environment and after his "Fair Banking" executive order. I'll be more than happy to be done with banks, forever.

I did the exact thing with my credit union. Mine was a check since I was just moving it to a different credit union, but they did do it.

there would be a meeting with a manager

They've got legal obligations, including Know Your Customer and money laundering prevention that started around 10k when I was in school but idk what it is now. Structuring a transaction so as to avoid reporting requirements often does not stand up to scrutiny so it's not worth the risk. There's a kid I went to high school with who's doing 25 for first structuring his business to avoid reporting laws and then using the advantages of not reporting to defraud the government to the tune of 8 digits. Ask him how that is going if you need convincing.

What are the benefits of switching to a credit union?