MOVE YOUR MONEY - 650,000 Americans Joined Credit Unions Last Month - More Than In All Of 2010 Combined
One of the tactics the 99 Percenters are using to take back the country from the 1 percent is to move their money from big banks to credit unions, community banks, and other smaller financial unions that aren’t gambling with our nation’s future.
Now, the Credit Union National Association (CUNA) reports that a whopping 650,000 Americans have joined credit unions since Sept. 29 — the date that Bank of America announced it would start charging a $5 monthly debit fee, a move it backed down on this week.
To put that in perspective, there were only 600,000 new members for credit unions in all of 2010. “These results indicate that consumers are clearly making a smarter choice by moving to credit unions where, on average, they will save about $70 a year in fewer or no fees, lower rates on loans and higher return on savings,” said CUNA President Bill Cheney.
This Saturday, 99 Percenters are calling on Americans to move their money from big banks to credit unions and community banks on what is being called “Bank Transfer Day.” If you want to stand with the 99 Percent and take part in this action, use the Move Your Money project’s community bank and credit union finder tool to find out how.
Nov 7, 2011 at 1:03 PM
Reader Comments (3)
http://articles.philly.com/2011-11-06/news/30366643_1_banks-report-debit-banking-industry
http://www.irishtimes.com/newspaper/breaking/2011/1107/breaking48.html
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Credit card company MBNA announced today that it is seeking the voluntary redundancy of 100 staff members at its base in Carrick-on-Shannon in Co Leitrim.
Bank of America, which owns MBNA, is trying to sell the business, which employs 700 people in Co Leitrim.
The bank wants to leave the Irish and UK credit card business as part of an effort to boost capital ratios by getting rid of non-core activities.
Quote: "The only thing they emit is money". Former Governor of the state of Maine and current wind power developer, Angus. S. King as quoted in a news article about him bringing MBNA to Maine.
http://obsbankwatch.blogspot.com/2011/11/bank-transfer-day-gaining-national.html