Bank Transfer Day Nov. 5th
A spontaneous movement of people who plan to close their accounts at the Big Banks — such as Bank of America, JP Morgan Chase and Wells Fargo — and transfer said money into credit unions is gaining strength, thanks to the awareness of Occupy Wallstreet and the visibility of Facebook.
Check out what happened when a couple 99%ers in Santa Cruz went to close their accounts at Bank of America.
At Citibank, at least one account-holder was roughly manhandled by police and some 25 others were arrested for trying to close their accounts.
Bankers seem to think your hard-earned money is theirs to control — even from you. They are having people arrested and roughed up for seeking access to their own money.
From the Bank Transfer Day event page:
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.
• Research your local credit union options
• Open an account with the one that best suits your needs
• Cancel all automatic withdrawals & deposits
• Transfer your funds to the new account
• Follow your bank’s procedures to close your account before 11/05
Last week the Humboldt Herald featured a Guest Post about local options for Credit Unions, including disturbing news that Coast Central Credit Union CEO made over $1 million in 2009 — far more than the CEO of a credit union twice its size, Provident Credit Union.
Whatever decision you make, consider moving your money away from Chase, Bank of America, Wells Fargo, or Citigroup by November 5th. They have way too much of the 99%’s money. Click for better viewing: