Discussion in 'Politics' started by Chris, Nov 6, 2011.
Yesterday, November 5th, was National Move Your Money Day.
I am moving my money to a credit union.
Just this week, Rebuild the Dream (an organization that I helped to found) launched a Move Your Money website, where people are pledging to close their accounts at Wall Street banks in protest of their outrageous behavior before, during, and after our nation's financial crash. I am stunned to report that as of this morning at 9am Pacific, people have pledged to close 69,127 accounts at big banks, and the number keeps climbing.
Tomorrow is a big day. Saturday, November 5 is a huge "Move Your Money" day. Tens of thousands of people all over the country will leave the big banks and move their money to community banks and credit unions -- where people remember things like customer service and loyalty.
For the past decade, our economy has been hijacked by Wall Street banks. Banks that knowingly made bad loans to homeowners and sold them as "can't miss" investments. Banks that took our tax money to bail themselves out, while handing out billions in bonuses to their executives. Banks that have so far escaped accountability for their role in our nation's economic crash.
If you use a big bank, like so many of us, now's the time to make a change.
We need to stop feeding what we are fighting. Let's fund banks that will fund our American dreams, not our American nightmares.
Within our own wallets, we have the power to hold Wall Street banks accountable. We can move our money to community banks and credit unions, institutions that are responsive and accountable. to the communities we live in. Community banks know that they depend on the well-being of local residents and the local economy. Credit unions know that they thrive only if their account holders thrive. In other words, they put people before profit. Wall Street banks have it backward, sacrificing people's life savings and homes just so they can prop up their stock price.
Van Jones: Stunning Number: Big Banks Set to Lose 70,000 Accounts on Move Your Money Day
In the last month, Tyson Roberts has marched at Westlake Park to fight corporate influence and protested a Seattle visit by the CEO of banking giant JPMorgan Chase. On Saturday, he got down to his own business and opened an account at a credit union.
"Mostly I just am trying to make a statement," Roberts said.
Roberts was one of several people at the downtown BECU branch with a "99%" patch on his jacket for Bank Transfer Day, a local and national event organized by Moveon.org, the Service Employees International Union and an advocacy group called Working Washington.
Thousands of people statewide have switched to credit unions, at least in part because of proposed new banking fees and to protest the big banking industry.
On Friday, people were sitting on the floor of the downtown BECU branch waiting to open accounts, said branch manager Kristin Anderson. The credit union was staffed up on Saturday, and 659 people opened new accounts in their 45 branches — a record for a Saturday, said Todd Pietzsch, a spokesman for BECU.
Much of the populist anger behind national and local Occupy protests is directed at bank executives who accepted taxpayer bailouts and continue to collect huge salaries while much of the country is still struggling economically.
Protesters say they are part of the 99 percent of Americans suffering economically while the top 1 percent prosper. Occupy organizers say that switching to a credit union is an easy way to make a personal statement to big banks.
Local News | Some 'make statement' by joining credit union | Seattle Times Newspaper
Awww isn't this special.
National idiots get even with smart people day.
Yes, the people who destroyed the world economy with their derivatives Ponzi scheme are smart.
But God punishes the wicked.
Move your booty.
Shake it, girl.
Amen! I moved mine and dumped large bank stocks.
I can't wait to see the figures. I know a lot changed banks even before Nov. 5.
I applied online, but they won't get back to me until next week.
I was with RBC which is a good bank, but they are being taken over by PNC, who are the bad guys.
You are blaming the wrong people. We need a National Move Your Politicians Out Of Office Day. Washington is the one to blame.
Separate names with a comma.