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jgoose71

Move your money Project

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A lot of clueless people are out there protesting in the Occupy Wallstreet thing.

Some people though have actually formulated a plan. Vote with your dollars.

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The Move Your Money project is a nonprofit campaign that encourages individuals and institutions to divest from the nation's largest Wall Street banks and move to local financial institutions. Little has changed to prevent another financial crisis or to end 'Too Big To Fail,' and with Congress unwilling to act, we are encouraging individuals to take power into their own hands by voting with their dollars and no longer contributing to a financial system that has led our country astray. We are a campaign that gives people real, concrete actions they can take to create a more sane, stable and localized banking system.



http://moveyourmoneyproject.org/

If your upset, take a shower, then do something about it.
"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

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Credit Unions?
They work for me!
I mean for my car, I had a choice, BMW 3.0%, BoA (FU!) 2.5% and my credit union 1%
Well that was an easy choice!

But it does mean I have to do a few things, throw some money in, have my check direct deposited and thus the money taken out of my account.....

Yeah it works.
Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

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good stuff...

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The simple fact that one ordinary citizen using social media tools can start a grass fire of protest that captures massive media attention and connects hundreds of thousands of people to useful information is an encouraging sign of where our society is headed. Every single person who actually goes ahead with a switch of banks is casting a potent vote in the long-range democratization of finance. Even if the banks shrug it off, people who go ahead and change their bank will probably feel better about themselves. Just because it’s a psychotherapeutic cliché doesn’t mean it’s wrong: Taking action is empowering.

And something is clearly happening here. According to a press release from the Credit Union National Association, “at least 650,000 consumers across the nation have joined credit unions in the past four weeks.”



http://www.alternet.org/occupywallst/152975/why_bank_transfer_day_%28today%29_is_only_the_beginning_of_something_huge/
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I mean for my car, I had a choice, BMW 3.0%, BoA (FU!) 2.5% and my credit union 1%
Well that was an easy choice!



With all due respect you are whining that BoA wanted to charge you 2.5% instead of 1%. This just illustrates the generational gap between those of us who experienced the last big recession as young people coming out of school and finding huge hurdles to overcome (the recession of the early 1980s) and this current economic climate we find ourselves in. Not saying things aren't bad now, except those of us who had to deal with the recession of the early 1980s, we also had to deal with double digit interest rates sometimes as high as 20%. And here you are whining about 2.5% rates.


Try not to worry about the things you have no control over

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I mean for my car, I had a choice, BMW 3.0%, BoA (FU!) 2.5% and my credit union 1%
Well that was an easy choice!



With all due respect you are whining that BoA wanted to charge you 2.5% instead of 1%. This just illustrates the generational gap between those of us who experienced the last big recession as young people coming out of school and finding huge hurdles to overcome (the recession of the early 1980s) and this current economic climate we find ourselves in. Not saying things aren't bad now, except those of us who had to deal with the recession of the early 1980s, we also had to deal with double digit interest rates sometimes as high as 20%. And here you are whining about 2.5% rates.




I didn't hear any whining, just smart consumerism.

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A lot of clueless people are out there protesting in the Occupy Wallstreet thing.

Some people though have actually formulated a plan. Vote with your dollars.

***The Move Your Money project is a nonprofit campaign that encourages individuals and institutions to divest from the nation's largest Wall Street banks and move to local financial institutions. Little has changed to prevent another financial crisis or to end 'Too Big To Fail,' and with Congress unwilling to act, we are encouraging individuals to take power into their own hands by voting with their dollars and no longer contributing to a financial system that has led our country astray. We are a campaign that gives people real, concrete actions they can take to create a more sane, stable and localized banking system.



http://moveyourmoneyproject.org/

If your upset, take a shower, then do something about it.



Take a shower? that's the best you have? LOL

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I mean for my car, I had a choice, BMW 3.0%, BoA (FU!) 2.5% and my credit union 1%
Well that was an easy choice!



With all due respect you are whining that BoA wanted to charge you 2.5% instead of 1%. This just illustrates the generational gap between those of us who experienced the last big recession as young people coming out of school and finding huge hurdles to overcome (the recession of the early 1980s) and this current economic climate we find ourselves in. Not saying things aren't bad now, except those of us who had to deal with the recession of the early 1980s, we also had to deal with double digit interest rates sometimes as high as 20%. And here you are whining about 2.5% rates.



Just curious what part of that did you consider whining? Why would you pay over $1,700 more for a loan of $45,000 over 4 years when you don't have to?

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Just curious what part of that did you consider whining?



Sorry my bad. It must have been all the other threads the OP started about how unethical the banks were treating him for his previous poor financial decisions. So yes people are doing the right thing if they walk next door to the competition who might be offering better products and better services.


Try not to worry about the things you have no control over

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Removing money from banks and putting it under the mattress is a mighty fine way to cause stagflation. I also wonder whether people know the differences between investment banking and depository banking.

While they are making a consumer choice, isn't this whole idea just another example of bandwagoning? What happened the last several times there was a market consumer bandwagon? Real estate. Tech stocks. Etc...


My wife is hotter than your wife.

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Just curious what part of that did you consider whining?



Sorry my bad. It must have been all the other threads the OP started about how unethical the banks were treating him for his previous poor financial decisions. So yes people are doing the right thing if they walk next door to the competition who might be offering better products and better services.


I was just being a capitalist and a smart shopper.
:)
Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

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Removing money from banks and putting it under the mattress is a mighty fine way to cause stagflation. I also wonder whether people know the differences between investment banking and depository banking.




I don't know who said to put your money under a mattress, the idea was take the money out of the large banks (B of A, Wells Fargo, etc etc...) and then putting it in small local banks and credit unions. I heard this morning there are some small banks in the Bay area that opened more accounts in a week than they did all year.

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Okay. So they move to different banks. I bank with a small local bank because it's nice to have my own personal banker. And the service is great. Just a singke branch bank.

But what about a small bank is better? Is it simply that it is not a large bank that makes it better?


My wife is hotter than your wife.

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But what about a small bank is better? Is it simply that it is not a large bank that makes it better?


Lower interest rate on their car loans.
But hey also pay less on their savings....but then again most banks don't seem to offer much in the way of interest these days.
So in a way it's a wash?
Further more, there are those ATM fees, which is good and bad.
Good in that I tend not to take out as much money and thus not spend as much....bad because when I do it's $3.

In what is more and more a closed market, credit unions are a nice alternative.
Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

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Take a shower? that's the best you have? LOL



If you have smelled some of them that have been "protesting" for a while, pissing and shitting in the streets, you would understand.B|

Some things need to take priority.....
"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

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Okay. So they move to different banks. I bank with a small local bank because it's nice to have my own personal banker. And the service is great. Just a singke branch bank.

But what about a small bank is better? Is it simply that it is not a large bank that makes it better?



Answer me this, what about a large bank makes it better? The whole point of the move your money project is to get your money local, to support your local economy, and not give your money to the large corporate banks that are bundling risky loans on wall street and needing bail outs.

My local credit union charges me less fee's, offers better rates, and supports local causes.

I did bank of America for a while, and they suck. The only reason anyone should have them is because they have ATM's and branches everywhere. I don't travel enough anymore to need them. Not for the service they give.

Also, national banks, who give credit card applications to anyone, are always trying to find new fees to tack on. Local banks, who know who is good for their bill and who isn't. Bank of america was trying to tack on credit card and debit card swipe fees for a while. My bank wasn't.

If you want to keep feeding the wallet of wall street, keep banking with B of A, AIG, Citigroup, etc.

If you want to take a bite out of these guys and help your local economy, check out the local Credit Unions and Banks. You will find it may even work better for you, unless you need to have a big, opulent marble foyer to walk into (paid for by money taken from your pocket).
"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

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Answer me this, what about a large bank makes it better



THe bigger banks are more one-stop shops. As I said, I am a local bank guy. But it sucks when I go elsewhere. I need to make a deposit I've got one location. That kind of thing. TH ebank doesn't do everything.

But what it does it does very well. And that's why I bank locally, But to quit a bank because it's big? That just seems really silly to decide against a bank because it's big.


My wife is hotter than your wife.

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Answer me this, what about a large bank makes it better



THe bigger banks are more one-stop shops. As I said, I am a local bank guy. But it sucks when I go elsewhere. I need to make a deposit I've got one location. That kind of thing. TH ebank doesn't do everything.

But what it does it does very well. And that's why I bank locally, But to quit a bank because it's big? That just seems really silly to decide against a bank because it's big.



You are right, being big isn't a reason for me to decide against a bank. I decided against bank of America though because they suck. They participated in bad loans, they loan to illegal immigrants, and they received bail out money. They tried to implement extra debit card fees, while making over $700 billion last quarter on credit card interest alone.

I don't blame everything on wall street and big business. But when I spot a bad apple, I take my business else where.

I would also encourage others to do the same.
"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

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Okay. So they move to different banks. I bank with a small local bank because it's nice to have my own personal banker. And the service is great. Just a singke branch bank.

But what about a small bank is better? Is it simply that it is not a large bank that makes it better?



The credit union is owned by its users, so it's nearly a given that fees will be lower and rates will be better. There's no profit margin requirement. In concept the large bank should have a great economy of scale and therefore lower costs, but it certainly doesn't work that way.

Smaller regional banks tend to focus on the local area for loans, and are somewhat more likely to hold mortgages to term rather then originate and resell. The main fault with smaller banks as a customer is they keep getting bought by Citi or Chase.

The big 4 - BofA, Citi, Wells, Chase - have all been guilty of creating and selling crappy/fradulent debt investment products to their customers.

This movement is the only intelligent move to date, though it doesn't look like they are doing much to capture the results, which was foolish.

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A lot of clueless people are out there protesting in the Occupy Wallstreet thing.

Some people though have actually formulated a plan. Vote with your dollars.

Quote

The Move Your Money project is a nonprofit campaign that encourages individuals and institutions to divest from the nation's largest Wall Street banks and move to local financial institutions. Little has changed to prevent another financial crisis or to end 'Too Big To Fail,' and with Congress unwilling to act, we are encouraging individuals to take power into their own hands by voting with their dollars and no longer contributing to a financial system that has led our country astray. We are a campaign that gives people real, concrete actions they can take to create a more sane, stable and localized banking system.



http://moveyourmoneyproject.org/

If your upset, take a shower, then do something about it.



Wow. The OWS crowd actually DOES something other than staying unemployed, unwashed, and full of THC...

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I decided against Bank of America because I couldn't get real time transaction and account information for my client trust account. I either had to call or wait for monthly statements. So I switched and have been happy since.

And as for the debit fees, public opinion sure as hell swayed them. It's the way it should work.


My wife is hotter than your wife.

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