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National Bank Switch Day

By Edited Jul 25, 2016 1 1

So we have tons of people seemingly aimless in their occupancy of wallstreet and other cities. You also have riots and police with alleged overuse of force charges being leveled against them. What has all of this done to change the problem that 99% of americans don't control the money. 1% of people are still just shaking their heads at these huddled masses with smirks on their faces. However, there is a new movement in the works. This movement had it's tent pole even go down with quite a bit of success.

The movement or day rather is referred to as "Bank transfer day". Although, the founder and leader behind the day says the whole day has been misunderstood. While this may be true it did have a big impact. In the month of October around 650,000 new customers joined credited unions and moved out of major banks. The totaling of the funds was more than 4.5 billion dollars. While this seems like an enormous amount of money for you and me this isn't even a drop in the bucket for major banks.  However, the banks have been sent a clear message.

Small business owners felt slighted that they may have been declined another line of credit so they would move their small fortunes millions at a time into credit unions. Other more average accounts from normal pay check to pay check consumers moved what they could. This viral effect spread like wildfire among the disenfranchised of america. 

This seems to me to be a much more effective way of getting the point across. Hit them where it hurts right in the wallet. The 1% might laugh at aimless protests where they know eventually these people will have to go home, and eventually the city and the world will get fed up with these acts. However, when you start to hit them on the bottom line, and when you stop helping the rich get richer a strange thing happens. The rich will have no choice, but to react in some way. They will realize that this is no longer idle chatter. They will understand that these people are serious. The credit unions are quick to fan the flames of change sending out switch kits to those interested in spreading the news. This could be the start of a beautiful movement.



Nov 13, 2011 11:51am
This actually makes sense as a way to punish the banks that have harmed the American economy. Vote with your feet and support a credit union.
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