Move Your Money! (Christmas, terrorist, financial, banks) - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - City-Data Forum

Art123 · 01-27-2010, 11:14 AM

JUST BEFORE CHRISTMAS, a few friends were having dinner wondering what personal actions they could take to help limit the power of the big banks and create a more sane, stable financial system. How, they wondered, could they help end the era of Too Big To Fail? The financier at the table recommended that everyone could move their money out of the Wall Street banks and into community banks. Community banks are typically more conservative about how they manage their money, they’re more closely connected to the people and businesses who live near them, and they’re more inclined to make loans they know will get paid back. In other words, they have the values that more people would want banks to have.
Move Your Money

RVA-Jsn20 · 01-27-2010, 11:21 AM

join a Credit Union

cleanhouse · 01-27-2010, 11:28 AM

Quote:

Originally Posted by RVA-Jsn20

join a Credit Union

Absolutely the best way to do banking.

I am just applying for a first mortgage through a CU. I know they will eventually sell it but at least I will not be giving the big banks my initiial business.

Art123 · 01-27-2010, 11:28 AM

This seems like an issue that the right and the left can agree on. No one wants to bail out these banks again.

stillkit · 01-27-2010, 11:30 AM

You'd better check to see who actually owns those community banks before making a decision. Not all of them are still local, but the name is the same.

SLCPUNK · 01-27-2010, 11:31 AM

We are actually pulling all our money out of BOA next week (going out of town today.)

NMyTree · 01-27-2010, 11:34 AM

I've been banking with a small town, local Credit Union since 2002.

The big, bloated boys don't get my money.

Art123 · 01-27-2010, 11:35 AM

Quote:

Originally Posted by stillkit

You'd better check to see who actually owns those community banks before making a decision. Not all of them are still local, but the name is the same.

Excellent point. The website has a search feature that is supposed to direct you to legitimately smaller local community banks.

renault · 02-02-2010, 11:11 AM

"Move Your Money" was profiled on NPR today. Let's get this grassroots movement going strong! SAY NO TO THE BIG BANKS!

summers73 · 02-02-2010, 11:21 AM

Quote:

Originally Posted by renault

"Move Your Money" was profiled on NPR today. Let's get this grassroots movement going strong! SAY NO TO THE BIG BANKS!

Careful...you might be labeled a "financial terrorist" if you speak too loudly about it.

http://www.youtube.com/watch?v=Q2kWmTta0Tk