Well, I bank at a credit union and have for years. For the most part, I don't have any complaints. I can do all my banking on a computer or my phone, but I prefer to go into a branch and do my business in person.

Over the last couple of years I have been slowly emptying my 401k and putting the money into the house next door that my husband and I bought and are renovating. The money has been setting in cash for the last six years, so at least it is now being put to a good use.

The idea is of course to put my money into a "real" thing and to rent it for income, but I feel wary of long term leases as even with a lease, renters can trash your place. I am looking at renting it out via AirB&B or like short term rental sites. Granted renters can still trash your place, but it seems to me you have more control with the short term rentals and they pay up front. I could be wrong, but we will try it here in the near future.

I appreciate this thread. I am going to the credit union today to get some additional cash. I can only take out $400 a day, so that is what I'll do....but would appreciate some thoughtful discussion of the whole how much is enough issue....we have only used a credit union for more than 30 years, and it is SO much better than the bank we used to have. You can always talk to a real person, and the assistance is really sincere, not just a window dressing. The guarantees are just the same as the banks, and there are no fees. I think it has been a completely worthwhile switch.

I'm not keen on banks but I have to use them.

I *LOATH* the whole cashless society idea. That's a way to ensure our elites can grab every penny. Remember when small depositors in Crete got a haircut and the major investors all somehow got the word and moved their money early? Cashless means someone else knows -- to the penny -- what you have.

Cash is king in crises. So how much cash should you have on hand?

This is where security and fire safety become issues. You have to be able to get to the $$ easily if you have to bug out but you also don't want it easy for home invaders to find.

1) Don't look rich. If you don't look like you've got $$ stored, you're less likely to be robbed.

2) Only stash what you can afford to lose in a fire.

3) Make sure you are NOT the only person who knows where the $$ is hidden. If something happens to you, it would be nice if your family could find the money.

4) Don't hide your stash in stupid places like inside the sofa. If you hide little stashes all over the place (coat pockets, purses in the closet, hollowed-out books, cookie jars, etc.) you'll forget where some of your locations.

5) Two possible locations: inside your bugout bag and inside a Ziploc bag in the freezer. That's accessible but not readily visible.

6) If you can afford it, keep a thousand or even two in cash. THIS IS MAJOR EMERGENCY MONEY. It is not to be spent on a dinner and a movie. It isn't even money for emergencies like the transmission falling out of your car or needing new tires. This is major emergency, can't get cash any other way, the sky is falling money. This is the cash that will get you out of your area and into a hotel room three states away.

7) Mattress money doesn't earn interest. It's for running away from the hurricane or the mob.

8) If you can afford to stash more, then do so but again, don't stash what you can't afford to lose in a fire.

9) Banks keep remarkable records so withdraw a little at a time; say $20 a week from the ATM over and above what you already do. Get small bills and tuck it away.

10) Make sure whatever you do with your emergency cash that someone else (trustworthy!) knows where it is in the event you are hit by a bus. If you can't find it, you don't have it.

I have covered some of your points, but some of the others I need to address, especially the one about sharing the information about where it is hiding. I have at least three stashes of cash, but I wouldn't say that any of them are fire proof, the freezer is a good choice for a hiding place.

With the currant rise in oil prices, I am giving serious thought to emptying my 401k, take the tax hit and be done with that. I can slowly withdraw the money and stash it as mentioned.

Mine is very much like using a bank. There's no monthly fees, though, so it's cheaper for me. One difference with credit unions in Canada is that they usually guarantee the entire amount, rather than up to $100,000 per account against the sort of haircuts you saw in Cyprus. That one doesn't affect me, but it will affect some people.

I do try to keep a bit of cash on hand because it is essential for a few things, and helps increase resilience in all sorts of situations, but I don't keep huge amounts, as I have zero desire to tempt thieves, or Murphy's law.

Sorry, I was out of town and it took longer than I figured.

One advantage not to over look is that credit unions are typically small and local. That makes them less likely to be affected by larger national issues or for them to have problems at the corporate level you don't know about. A huge stake in say some dodgy Russian bank they don't tell anyone about that causes the bank to close their branches for a few days and makes getting your money out impossible is less likely to happen with a credit union that only has a half dozen branches.

Also, diversify! Don't have all your funds in one financial institution. I have my part time payroll going into my credit union account, and my social security going into my regular bank account. If either source of income is delayed or the institution have a problem, I should still be able to access some funds.

Also2, diversify your out of bank money stash as well. You should have copies of important papers and flash drives with back up information stored at a friend's home already. Consider stashing $1000 there too. If you worry about temptation, buy one of those small fire safes, toss everything into it and don't give them the combination. Have them just put it in their basement for you in case of an emergency.