Bill Maher offers some relief for people tired of being abused by the major banks: “Real change is not going to come from Congress, it’s not going to come from the White House and it’s certainly not going to come from the lobbyists Wall Street hires to make sure their special interests keep beating out the public interest. We’ve got to do it ourselves, and moving your money is a great way to start.”
The movement transcends liberal and conservative ideals, he says, and is “populism at it’s best.”
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Good old Bill….says it better than anyone else could
We opened an account less than a year ago with a local Credit Union and are in the final stages of closing our Chase account. I will send a letter to the CEO, President and Chairman explaining why. In a nutshell, our credit union checking account earns money, it is a local bank, so most of everything stays here, they are eager to work with us and don’t slap us with ridiculous incessant fees for everything and anything. I frankly cannot see why I need a big bank. I’ve already paid enough and I am FED UP, I am taking action with my credit card since I can’t with my votes.
By all means, move your money. My bank (4 branches) pays me 4.5% on a checking account, refunds me up to $25 for ATM fees and says “Hi Mark when I walk in the door.” If you are not GE, then you don’t need a big bank.
So what? Move on.
The point is not to bring down the big banks by moving out your accounts. Unless you’re the Prince of Abu Dhabi, they won’t notice your departure. The point instead is to strengthen your local bank, your neighbors who work there, your community, and the local Boys and Girls Club or soccer league that the local bank supports with its dolars and its volunteers. Shrinking the Big Bank by 1% won’t have an effect, but that same money will grow your local community bank by 15%, and THAT WILL have an effect.
Oh yes yes please! Move our money into local banks is the way to go.
My wife and I had 85% of our funds taken out of our household account just 5 days before our rent was due.
Weak!
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