Move Your Money: A New Year's Resolution

I like this! I despise banks, but in this day and age a financial institution is necessarily so I use a credit union. I have for some 30 years now, ever since my bank pi$$ed me off by bullying me when I was just a little guy starting out in adult life.

I said never again, and I enjoy relaying the story to bank managers (CIBC) who seek my business now. Nice to go 'Oh yah? Screw You'.

So, lookie here...a movement called Move Your Money...how the little guy can put it to the big banks by using Community Banks and Credit Unions. I'm passing it along to share the joy of pushing back. It may not be much, but it beats submissively accepting the screwin' from Wall Street. Watch the video...move your money!

We talked about the outrage of big, bailed-out banks turning around and spending millions of dollars on lobbying to gut or kill financial reform -- including "too big to fail" legislation and regulation of the derivatives that played such a huge part in the meltdown. And as we contrasted that with the efforts of local banks to show that you can both be profitable and have a positive impact on the community, an idea took hold: why don't we take our money out of these big banks and put them into community banks? And what, we asked ourselves, would happen if lots of people around America decided to do the same thing? Our money has been used to make the system worse -- what if we used it to make the system better?www.huffingtonpost.com...

This, my friends, is conspiracy! Don't worry that it's from a lefty site...I'd endorse this plan if it came from Sarah Palin!

Trust me...30 years on...and it still feels good.

not sure how credit unions are any better than banks.

The simple solution is to just keep cash. If you need a bank service like check cashing, direct deposit for paychecks ok, the day the money goes in is the day it comes out.

This is what we (my family) do.

Screw them, screw them all and your little credit union too! /wicked witch of the east

[edit on 30-12-2009 by watcher73]

Originally posted by watcher73
The simple solution is to just keep cash. If you need a bank service like check cashing, direct deposit for paychecks ok, the day the money goes in is the day it comes out.

Bitter...nice, I like it!
Credit union charters are set up differently, and are much more community oriented...a co-op if you will. Still...every penny you bounce through a bank earns them money...so move your money anyway.

Great initiative. Thanks for posting. S&F.

Link to the initiative website: moveyourmoney.info...

UPDATE:
From Dennis Santiago, CEO and Managing Director of IRA

My name is Dennis Santiago. I am the CEO of Institutional Risk Analytics, a company that most of the world had never heard of until December 29, 2009. That's the day the country became aware of a tool we donated to help the MoveYourMoney.info campaign.

Today marks the seventh day since the campaign activated the zip code search tool. In the 168 hours that have transpired, Americans have searched for banking alternatives in 16,631 zip codes. With roughly 42,000 zip codes assigned that's just under forty percent of the country actively asking the question "what can we do to effect change?"
In those 48 hours, over 115,000 of you stress-tested that tool and in the days since you've been continuing to use the tool around 45,000 times a day.

So the burning question, of course, is "will moving your money have an effect?" And by effect, I don't mean making a momentary political statement. I mean making a structural difference to the country's financial system. The answer is yes, and here's how.

Read how it effects change here:www.huffingtonpost.com...

Further to this concept...a great little video from Bill Mahar...love him or hate him, but he wants to help you out of an abusive relatiosnship...

"This is not a conservative idea or a liberal idea. It's not left or right. It's populism at its best."

My interest? Banks pi$$ me off!

S&F,

I didn't catch this until today, but never the less my wife and I have already moved our accts. in 2008 to a local bank (actually getting 3.5% int. on checking acct.), and we still have a credit union acct. (1% int.) from yrs. ago as a back-up.

Changing the nature of finance capitalism is a long road, to be sure, and the industry will resist change every step of the way. But the fight begins in earnest when people decide to move their money.

www.thenation.com...

Cash is always better but on-line banking, direct deposits.... makes life e-z as far as paying the bills (can't remember the last time I licked a stamp :barf

well there is another way.... we dumped all stocks and options and totally got away from wall street and turned everything we own into Gold and precious metals.... stashed some of it off shore and placed the balance in items that we will use to survive when SHTF...and it is coming soon.