Tomorrow is Bank Transfer Day. By this date, people all across America are shutting down their accounts at large, costly, name-brand banks and transferring their funds to new bank accounts at their local credit union or community bank. Here is an excellent video made in Portland that follows along with several different people as they close their bank accounts and give their reasons for doing so. One person wants to save money, another disagrees with the bank’s foreclosure practices, a third is mad about the bailouts, and the last is a union withdrawing its funds to show solidarity with holding Wall Street accountable.
Switching your account is pretty easy and painless. Here’s “7 Easy Steps To Safely Switching To A New Bank” to help you along. And here are some tips with questions to ask of a potential new credit union.
(Thanks to Mooch!)