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 ...
The boys with money in the banks just sit back.
Well, actually I am. They can provide the same service my bank did, and it costs the same expenses... But we had to pay tax on that same profit. Please explain to me how that is even close to being fair.
This is not 1947 and the world is not Bedford Falls. The exclusivity of the credit unions passed ages ago. The factories they supported left years ago because they could not compete...but the “non- profit” credit unions do everything with a 34% discount on the first dollar earned.
So, yeah...I think they should pay taxes. Why shouldn’t they. It’s a vestige of the Roosevelt era that should be changed.
I think the Occupiers tend more towards mayhem than Liberatarian
I’m willing to bet a lot of these accounts are the free “student” accounts taken out by Mommy and Daddy when the kid started college.
M&D have probably stopped the automatic monthly transfers anyway...
However, aren't the regulations covering CU reduced compared to banking regulations, thereby inviting fraud?
Something about the 80’s still concerns me, even more so when I see which politicians “regulate” banks.
Chuck U. Schumer and IndyMac in 2008....
Thanks for the Timothy Plan link. It more imperative than ever to be more diligent in investing where our money meets our values than ever before.
Do you know if there are similar resources for other financial services, like banks and such?
Credit unions are just as hobbled by Dodd/Frank as banks. Their chief advantage lies in being not-for-profit and member-owned.
And they tell you all about it, in detail, up front. If you’re still stupid enough to do it, they’re more than happy to take the money you’re willing to give them.
You are joking, right?
I mean the combined assets of these dweebs is likely equal to the Obama family's charitable contributions.
Was at Office Max today and the lady in front of me was writing a check. The guy behind me commented, “Who writes a check anymore?”
“I told him because of the banks starting the debit card fee. He said, “Yea, that’s some bullshit, may have to do that myself.”
Rather than complain that CU do not pay federal taxes, wouldn’t it be better to complain that banks do pay federal taxes?
I didn’t know about the taxes at CU.
Rather than complain that CU do not pay federal taxes, wouldn’t it be better to complain that banks do pay federal taxes?
I didn’t know about the taxes at CU.
I completely agree. I’m guessing that the date was chosen to coincide with Guy Fawkes day, which these folks probably wouldn’t even know about if not for “V for Vendetta.”
I just want it to be fair. One way or the other.
but more important...credit unions are NOT open....at least I know of none....
Does your credit union have a Bill Payer service? You could do Automatic Payments from your credit union to Regions for your mortgage.
Depends on the particular credit union. Ours has savings and checking accounts, Certificates, offers Mortgage, Home Equity, and Auto loans, as well as Visa Cards. We also have divisions that handle Financial planning and investments, Insurance, and Realty. As far as service is concerned, we have quite a few branches in MA and NH, and we're open Mon. thru Sat., and late on Thurs and Fri. Maybe not ALL credit unions have that kind of service, but we do. ;o)
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