Bank Transfer Chatter Goes Global Credit Unions Surging

Bank Transfer Chatter Goes Global Credit Unions Surging

www.cutimes.com

Credit unions across the land are “seizing this marketing opportunity”, as CUNA officials put it Tuesday, to take advantage of the favorable industry media coverage following the announcement of Bank of America’s $5 monthly debit fee.

There also appeared to be stepped-up online chatter—even spreading internationally on blogs and Twitter—about the so-called “Bank Transfer Day” Nov. 5 when consumers are exhorted to move their funds from large banks to CUs and community banks.

(visit the link for the full news article)

This movement has legs. I see a major shift of lots of little people's money. People voting with their wallet is one of the most important weapons we have in this war. It is a class war make no mistake about it. It is just that the 99% have started fighting back. Small moves add up to big things. The whole world is watching.

www.cutimes.com
(visit the link for the full news article)

Lets just hope the banks, do not try and stop all of this,.

Or have those arrested who go into the banks to transfer their money to credit unions, community banks etc.

i started this movement

good to see its going somewhere
end the power of banks, join a credit union..

reply to post by AnonymousFem

Lets just hope the banks, do not try and stop all of this,.

It would be a miracle if they didn't try. They are probably taking some sort of action as I write this post.

Some top bank execs are probably using their clout to get key legislators to pass a new "bill" to make it a long process to close your account, and move your money.

Anyway, that's what I see happening. I wouldn't wait until November. That's just giving them too much warning.

reply to post by Destinyone


The evidence suggest that people are doing just that. They are opening CU and small regional bank accounts now. They are transferring their money over in the coming weeks and then just going in to close the account on Nov 5th. If the banks block the process they still lose because that brings attention to the situation while people are already starting the move of their money..

reply to post by AnonymousFem


One does not need to go into the banks to transfer their money. If they have direct deposit they go to the credit union, get the correct information then notify their employer of a change in that deposit. The money then goes to the credit union instead and not the bank. If you have auto withdrawals from your account at the bank you notify that creditor of the new withdrawal information and it to is transferred. The account may remain open, leave a few bucks in it for a while. then close it later. either way, the banks will not have your funds coming in to loan out to someone else. Transfer savings to checking, and write a check at the CU to deposit in new account.
I do not believe they can refuse to hold more than 90 days any savings either so within 3-4 months the banks would indeed get the message.
DH

reply to post by ShortMemory


thats quite a stretch dont you think? theres people who have advocated this long before you did...
remember its about the 99%, not the 1%

I very much support credit unions. We in Canada are not federal reserve and don't do US or EU banking systems and are much more stable.

However, doesn't anyone find it odd that this movement with millions is occurring that could crash their system completely and therefore might not have good backers. After all CNN slipped and reported that they didnt evacuate the protestors from this private property because its owner got phone calls and contact from the city elected officials to not do this.

A government endorsed protest??? What the heck??? Who is using these people wishing a better world to bring in hell and chaos.

While at the same time, Obama is pressing for an illegal war with Iran. Which no one would ant, and no one could afford.

Wake up and stop being distracted. Protest the war building up and for World Peace. And find ways to create people businesses, counsels of citizens, and not do so by crashing things, but replacing.

This is all rigged.

Originally posted by VonDoomen
reply to post by ShortMemory

 

thats quite a stretch dont you think? theres people who have advocated this long before you did...
remember its about the 99%, not the 1%

well not really, i know people were talking about it before i did but not in regards to the occupy movement and using it as a method to end the power of banks.
i have emails that i sent to a few of the occupy websites suggesting the idea about a week before anyone heard of bank transfer day.
i also have a thread on ats from that time and glp from that time..
maybe i didnt but i was sure spreading the message before others in regards to occupy.

Originally posted by Unity_99
I very much support credit unions. We in Canada are not federal reserve and don't do US or EU banking systems and are much more stable.

However, doesn't anyone find it odd that this movement with millions is occurring that could crash their system completely and therefore might not have good backers. After all CNN slipped and reported that they didnt evacuate the protestors from this private property because its owner got phone calls and contact from the city elected officials to not do this.

A government endorsed protest??? What the heck??? Who is using these people wishing a better world to bring in hell and chaos.

While at the same time, Obama is pressing for an illegal war with Iran. Which no one would ant, and no one could afford.

Wake up and stop being distracted. Protest the war building up and for World Peace. And find ways to create people businesses, counsels of citizens, and not do so by crashing things, but replacing.

This is all rigged.

Unity, this is the "bank" thread. There are plenty of protest war on Iran threads for you to post this in.

Just sayin'

reply to post by DavidsHope


You should give that information out to everyone.

They should know how they can do this without being confronted by the Police or the banks who refuse to allow them to withdraw their money.

Thank you for posting the information.

Opened my CU account this morning. Was using Regions bank and called them and told them the atm/debit card fees were unacceptable and they said goodbye. Well, actually they tried to blame it on 'federal regulations' but i told them that I was aware that the regulations did not stipulate that banks charge their depositors.

The transfer will be complete before Nov 5.

I absolutely endorse this line of protest. However, one should research where they are going to put their money. Here is the link to the NCUA.

NCUA

You can search for a credit union in your area. Also there are links to quarterly financial statements so you can asses the health of the credit union.

I live in a border area between two states. There is a total of one credit union in my area on either side, and about 25 or so different banks. The local credit union is solid on it's assets and performance, but I've banked with one of the larger regional banks for over a decade now. I would've closed my account their in 08 but the CEO of my bank at the time was very anti-TARP, and I believe they would have benefited had the TBTF been allowed to implode like they should have.

I'm on the fence about changing to the local credit union, but I've never heard anything bad about them. Another option I have for a credit union and have considered is PenFed. PenFed stands for Pentagon Federal. It's a credit union available to armed forces members, their family members, but is also accessible to non-military dod through either USAA or AUSA memberships.

reply to post by Destinyone


This protest, and the bank situation, bank runs, with arrests, while there are current illegal wars going on, and a new one in sight, is being done with the real provocators being high level. And dangling in front of a ww3 scenario, that someone is trying to lift off the ground, as Iran is backed by China.

So, no. Crashing all the banks and doing things to dance on the puppeteers strings should be a big alarm signal. They're all connected to what is going on now.

Been going on for awhile now, they just stepped it up and are officially making an announcement that on Guy Fawkes day they everyone should close and transfer your money to a community bank.

Check out what happened to these protestors that tried closing their accounts...

Video

-Kdial1

www.abovetopsecret.com...
US Begins Huge Military Maneuvers Aimed at Iran

Right during a protest.

Runs on the banks, by the protestors and supporters.

And in addition, CNN reported that city officials called the realtor to back off on evacuations. Wow. This protest is rigged.

Sorry but this will be the beginning of a rapid decline in customer and product service for CU's.

Too big too fast. I've been saying it for months. Anyone who "runs" to a CU right now may as well leave their money in BofA. If you're going to make a move, move to a small community bank first. Let the CU's rise, fall and settle back down.

reply to post by Skorpiogurl


The CUs are somewhat exposed to the decline in mortgage business and falling home prices. I will move my personal and business accounts to a small regional bank that I know and trust the health of.