Monday 7 November 2011

This Is The Real Revolution

This is how you create a revolution.

You dont demonstrate / riot / attack the state or its corporate masters.

Thats what the state wants you to do.

This is how you bring down the bankers - you take your money out of the banks and put it into Credit Union.

I began this campaign on Twitter at the start of the Occupy Wall Street protests and gave the idea to Max Keiser on Twitter.

Good to see the plan is working.

The big banks are keeping mum about whether customers are switching to non-profit credit unions this weekend as part of the Facebook-propelled "Bank Transfer Day" protest.

In Los Angeles, organizers predicted that thousands would move their accounts from the big commercial banks, but it was unclear how many actually did.

Doug Allen moved the bulk of his and his wife's savings to Partners Credit Union in Burbank, which has added some 600 new accounts recently and took the unusual step of opening its doors on a Saturday.

"I've meaning to do it for awhile, so when I saw this event today, I thought, 'That's the perfect reason to finally do it,'" Allen said.

An estimated 650,000 consumers have transferred $4.5 billion from banks to credit unions since the end of September.

Colleen Haggerty, a spokeswoman for Bank of America's Southern California operations, said the giant institution had no comment.

But she said that the bank has to publicly disclose its deposits every three months to comply with regulations governing financial institutions and publicly traded companies.

That means the information will be broadly available at that time, though it might not be possible to check whether deposits dropped on a particular day.

She said the bank, under fire for a now-abandoned plan to charge customers $5 per month for ATM privileges, was still "great" for customers.

"Bank of America continues to be a great place for customers to manage their everyday finances and achieve their savings goals," Haggerty said in an email. "We offer customers more choice and convenience, including industry-leading fraud protection, access to thousands of banking centers and ATMs, and the best online and mobile banking, which allow customers to bank on their terms 24/7."

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Anonymous said...

What does it take to set one up? There must be thousands of patriots in the UK who would be interested. Why dont you start one?

Anonymous said...

Nice idea, shame about the practicality!

Virtually everyone is paid via a bank account these days, the banks even handle benefit recipients payments.

The DWP would not allow payments to go into directly credit unions, neither would most employers...

They closed that loophole back in 2005!