Remember, remember, the fifth of November, because that’s when “Bank Transfer Day” is happening. By that date, all participants will have closed their big retail bank accounts and put their money in a local non-profit credit union or local or regional community bank.
“If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date,” says the Facebook event page, “we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.”
To find a credit union near you, check out findacreditunion.com.
Bank Transfer Day [Facebook]
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More thoughts…Seems to me it would be more important to get that credit card account moved to a local bank or a credit union, which I haven’t done.
Also, among the advantages of a credit union is that opening a savings or checking account with them allows you to borrow from them too. I just refinanced my auto loan from Chase with my local CU and saved 1.75% interest–about $40 a month.
The thought of a dividend if the credit union earns “too much” is great!
The whole idea is to send a message but if the 100 or so million idiots using the mega banks just want to follow along blindly like a bunch of sheep, I guess they will. And to the fools that think this is a bank run, you’re the biggest idiots of all and probably work for one of those mega’s. This is all about waking up people! For God’s sake, are you just going to bend over and let this happen? Let these banks charge you for accessing your money? When they throw millions into advertising at the baseball stadiums and every other commercial you see is about how they’ll pay you back for using their card? You’re pathetic if you have to have a reward for using your credit card or move your account.
Don’t you know that the mega banks don’t give a rats ass about any of their customers. What they really care about is their shareholders!
Not to mention some of the mega’s continue to open call centers outside the U.S.! You’re money could be being handled by someone in the Philippines soon!
So go ahead. Stay with your mega bank, fools. Just because you can find more atm’s. What a stupid reason. If you have a debit card, you always have cash anyway. Good luck suckers!
Wow, I’m surprised there were actually comments still going on in this article. I just wanted to say I applied for a credit union account today and I hope to be able to use it as our main account by November 5th.
If you’ve ever had a bank’s loss prevention arm to withdraw $ from your account to satisfy over draft protection fees, etc. don’t count on a credit union allowing you to open a checking account. Such an action is recorded with an out fit called Check Services. Credit unions are generally too conservative to allow anyone to open an account with this negative mark against them. This can stay on your record for up to 7 years. It is used alot like a credit report.
If you’ve ever had a bank’s loss prevention arm to withdraw $ from your account to satisfy over draft protection fees, etc. don’t count on a credit union allowing you to open a checking account. Such an action is recorded with an out fit called Check Services. Credit unions are generally too conservative to allow anyone to open an account with this negative mark against them. This can stay on your record for up to 7 years. It is used alot like a credit report.
Credit unions are extremely conservation. Not all of you will qualify for account services.