Is it safe to keep money in lending club?
Lending club stock constantly performs bad and seems like it’s heading towards not being a around in the future. I have $500K in their HYSA account since they give some of the best rates. 3 beneficiaries on the account, so that’s $1M FDIC coverage Safe to keep money at Lending Club which uses Radius Bank? TC: 300K
250k fine, FDICed Rest maybe put in others like wealthfront etc
Only half of that is insured, so presumably you’ll want to take out the other half if you think there is risk of collapse.
Edited. FDIC coverage can be more than $250K
They were crashing like 5 years ago and even ousted the CEO. However during pandemic they soared and now deflating like every other non profitable business
Robinhood provides 3.75% with gold, if you are looking for an alternate option
what is your networth OP? if you could share ...thanks
Collecting nickels in front of a bulldozer is generally not considered safe.
Weird saying but ok