Posted on 10/23/2011 12:45:40 PM PDT by drewh
In about 18 days, more than 50,000 people plan to send a message to banks: Goodbye.
In an event titled “Bank Transfer Day” thousands are signing up to leave large banks in favor of credit unions on or before Saturday, November 5, over what some call unethical practices.
“If you don’t believe in a company’s practices or feel that a company’s practices are unethical, then, very simply, you should not have money with that company,” the 27-year-old creator of the event, Kristen Christian, told KTLA Live.
“I was tired of paying outrageous fees to banks for a severe lack of services. I was tired of having my money access determined by a corporation and the final straw because I was tired of banks targeting the impoverished and working class,” she said.
In addition to the 51,000 and counting rsvp's for “Bank Transfer Day,” a cause page for the event has amassed more than 15,000 likes, and the group’s twitter page now exceeds 600 followers.
The group’s mission, according to the public Facebook invite: ”Together we can ensure that these banking institutions will ALWAYS remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.”
In recent weeks, banks have drawn fire over fee hikes. A petition titled ”Tell Bank of America: No $5 Debit Card Fees” has gained popularity, with more than 130,000 signatures.
Now, Bank Transfer Day may be gaining even more steam. The group’s attendees are active and vocal on the events page, sharing their stories of change with the public.
(Excerpt) Read more at abcnews.go.com ...
“Well, I’ve got to admit, if you want to protest something you don’t agree with, THIS is the way to do it.”
I am in agreement with this tactic. I practice it as well - albeit from a more conservative point of view. I recently closed my savings account with a smaller bank because they were assessing me a $10 fee for not keeping my saving balance above a certain amount.
There are mutual funds available for those people who have religious or moral standards as to how they invest their money. Check out this link:
More people out there ought to start speaking with their wallets.
I wish Barry’s daddy would have
Thanks drewh.
HOLY CRAP, YOU MEAN THESE MORONS HAVE DISCOVERED THEY CAN TRANSFER THEIR ACCOUNTS IF THEY ARE UNHAPPY? DAMN, THIS “FREE TO CHOOSE” CONCEPT MILTON FRIEDMAN SPOKE ABOUT IS OKAY AFTER ALL!
Please tell me you are not complaining about credit unions not paying federal taxes?
Stupid name ping.
If we had a legal POTUS, this would be a violation of the RICO Act.
OTOH, the Occu-puds should be arrested for vagrancy, and if they’ve got illegal street drugs on them, prosecuted for that. Any of them involved in dealing, prosecuted. Vandalism, prosecuted. Rioting or inciting to riot, prosecuted.
Ofcourse, their collective $20,543.18 is not really going to have a big impact.
That is the way the free market is supposed to work. An increase in price of a good or service tends to lead to a decrease in demand for it.
Dont the Occupansies have to have an actual job/ place of employment to join a credit union?
My bank just started charging $4 a month for ATM card.
It doesn’t matter if it gets used or not. My mistake was not realizing this fee was a different one, as my checking account is still “free”. Except for the ATM card fee, that is tied to my “free” checking.
As my blood pressure subsides, will enquire if/how to cancel the ATM card. If they refuse it’s time to find another bank. One that didn’t need hundreds of billions of bailout dollars.
I can’t believe how stupid these Fu$&kers are - banks are not very popular right now, to put it mildly, and they go ahead and pull a stunt like this.
I like my credit union way better than a bank too. The only time they haven’t been able to help me was when i was needing to convert some leftover Euros. I had to go to Wells Fargo where they gave me the financial equivalent of prison rape with their rates.
If you need a bank building to visit in several states,,ok. But a good credit union will make you treat you like a bank used to a few decades ago.
WooHoo! I work for the largest credit union in New England! Come on over, folks!!
I hate the smelly hippies,, but my experience with credit unions has been very good. Banks,,not nearly so much.
” An increase in price of a good or service tends to lead to a decrease in demand for it. “
In an economy largely driven by ‘asset bubbles’ (say, us, the past 20 years) this truism gets forgotten - but, like gravity, when it reasserts itself, it usually leads to pretty disastrous results....
Wrong. Some banks here in New England ARE open on Saturdays and Sundays, particularly the ones with branches inside grocery stores. And the credit union at which I work is open every Saturday.
Thanks for the link.
We switched to a credit union a few years ago. We’ve been very happy for the reasons you mention.
“this would be a violation of the RICO Act”
Nope,, you have to be organized to commit a crime. Organized people saying, “hey,,everyone should stop doing business with the bank, it’s better to go to the credit union instead”.
How is that a crime? If i try to convince every conservative to never buy a GE or GM product, should i be in violation of RICO?
I’ve already done this years ago. My experiences with the “big banks” drove me that way a long time ago.
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