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Excerpt: "People are pledging to close their accounts at Wall Street banks in protest of their outrageous behavior before, during, and after our nation's financial crash. I am stunned to report that as of this morning at 9am Pacific, people have pledged to close 69,127 accounts at big banks, and the number keeps climbing."

Van Jones, founder of Rebuild a Dream and globally recognized, award-winning pioneer in human rights and the clean-energy economy speaks at the National Summit. (photo: sofreshandsogreen.com)
Van Jones, founder of Rebuild a Dream and globally recognized, award-winning pioneer in human rights and the clean-energy economy speaks at the National Summit. (photo: sofreshandsogreen.com)



Stunning Number: Big Banks Set to Lose 70,000 Accounts on Move Your Money Day

By Van Jones, Reader Supported News

04 November 11

 

ust this week, Rebuild the Dream (an organization that I helped to found) launched a Move Your Money website, where people are pledging to close their accounts at Wall Street banks in protest of their outrageous behavior before, during, and after our nation's financial crash. I am stunned to report that as of this morning at 9am Pacific, people have pledged to close 69,127 accounts at big banks, and the number keeps climbing.

Tomorrow is a big day. Saturday, November 5 is a huge "Move Your Money" day. Tens of thousands of people all over the country will leave the big banks and move their money to community banks and credit unions -- where people remember things like customer service and loyalty.

For the past decade, our economy has been hijacked by Wall Street banks. Banks that knowingly made bad loans to homeowners and sold them as "can't miss" investments. Banks that took our tax money to bail themselves out, while handing out billions in bonuses to their executives. Banks that have so far escaped accountability for their role in our nation's economic crash.

If you use a big bank, like so many of us, now's the time to make a change.

We need to stop feeding what we are fighting. Let's fund banks that will fund our American dreams, not our American nightmares.

Within our own wallets, we have the power to hold Wall Street banks accountable. We can move our money to community banks and credit unions, institutions that are responsive and accountable. to the communities we live in. Community banks know that they depend on the well-being of local residents and the local economy. Credit unions know that they thrive only if their account holders thrive. In other words, they put people before profit. Wall Street banks have it backward, sacrificing people's life savings and homes just so they can prop up their stock price.

We already know that the big banks are paying attention. Just this week, after public outcry over proposed monthly debit card fees, the big banks backed off. This is good news. Now let's make sure they know they need to do a lot more than just give us back our $5.

Already, tens of thousands have pledged to move their money this weekend. I'm proud to count myself among that number -- I'm in the process of moving our family's money out of a zombie mega-bank and into a community bank. The more people that join in the exodus from Wall Street banks, the louder the message that the banks will pay for the damage they've caused to our economy.

Does it sound hard to switch banks? It's true, it's not always simple. Sometimes, the hardest part is getting started. Here are some resources to make it easier.

- To find a local bank to switch to, you can search for a community bank or credit union in your area here.
- Read a complete guide to closing your account from our friends at the New Bottom Line.
- When you decide to Move Your Money, don't forget to tell the world. Stand up and be counted!
- And if you're inspired and want to do more, the New Bottom Line is organizing people nationwide to start campaigns to get institutions like churches, municipal governments, and universities to move their money out of the big Wall Street banks. You can find out more and get involved locally here.

e-max.it: your social media marketing partner
 

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+58 # Kayjay 2011-11-04 17:05
YAY. Hey, here's an idea. Why don't we make Bank transfer day a quarterly or monthly event and really make those evil Banks rue the day they got greedy! May their only customers be crickets.
 
 
+12 # Bill Clements 2011-11-05 11:34
Great idea! I'd like to see numbers in the millions.
 
 
+14 # MainStreetMentor 2011-11-04 18:56
70,000 ... that's a good number, but all of us need to keep working at it until such time as two more zeros appear on the right hand side. We need to seriously impact the malfeasance of Wall Street ... the BofAs ... the Wells Fargos ... and all the rest. On this effort, I'm of the opinion we take no miscreant financial prisoners.
 
 
+9 # pernsey 2011-11-04 21:22
I think this move will say way more then words could, to the big banks. Im really hoping that these 69,000 plus people actually do what they say they are going to. This is going to ROCK! I have been using a credit union for all my banking needs for years, I love it! Welcome aboard all you newbies!!!
 
 
+10 # michelle 2011-11-04 21:58
The story on CNN says 650,000 accounts have moved to credit unions/small local banks totally around 4.5 billion dollars so far this month. NBC plans to run a program detailing how to make a smooth transition from your old big bank to a credit union or local bank tomorrow. My very small credit union has seen a real upswing in accounts and are putting more people on tomorrow in anticipation of new accounts. Gosh, have we made a real stand, finally a real win.

This is where our real power is located--the almighty dollar. We need a consumer union of sorts to fight back each and every time.
 
 
+6 # mrgrtmorris 2011-11-04 23:05
Remember you need to transfer authorization for you direct deposits to the new accounts. This can take time. If you haven't set this up ahead your move-your-money action may occur later than the Sat.
 
 
+4 # Wordslinger 2011-11-04 23:09
In addition to withdrawing my account from B of A am having the following signs painted on the sides of my big, white Ford van:
ANOTHER
Bank of America
VICTIM
 
 
+8 # nancyw 2011-11-04 23:19
Am refinancing to get out of B of A who bought over Countrywide. I've boycotted B of A since 1988. Horrible bank. I use to leave notes at the bank along the long line where customers were to leave the bank - that they were not customer supportive, lied, and charged a fee for every little thing. Everyone get going!!! Have just changed my Chase credit card, too. If you can't get to an Occupy site, support them this way - which really does support you.
 
 
+7 # mwd870 2011-11-05 07:23
Pushing for Financial Regulatory Agencies to put a leash on the illegal activities would hit the banks again where it hurts.

Here's to the Move Your Money effort being even more successful than predicted.
 
 
+6 # jimking 2011-11-05 07:54
We need to take a much closer look at "Community Banks"
Who owns the bank? Where do the profits go? Who is on is on the board of directors? - How many of your neighbors have seats on the board?
In a Credit Union Board - You know where the profits go - you know many of the people on the Board of directors.
 
 
+5 # reiverpacific 2011-11-05 10:29
Quoting jimking:
We need to take a much closer look at "Community Banks"
Who owns the bank? Where do the profits go? Who is on is on the board of directors? - How many of your neighbors have seats on the board?
In a Credit Union Board - You know where the profits go - you know many of the people on the Board of directors.

GOOD THOUGHT ON COMMUNITY BANKS
 
 
0 # FPL 2011-11-05 10:44
Hey I use my Fidelity Investments accts for banking. They use the United Bank of Missouri. As far as I know they are both pretty cool and blameless. Am I right??
 
 
0 # Bill Clements 2011-11-05 11:41
I had an MBNA credit card for years and then they were bought out by BoA. Not long after that, around 2008, I stopped using their credit card and replaced it with one from my local credit union, which, I must say, is truly a great institution that I feel really good about belonging to.

These Too-Big-To-Fail banks don't honestly care about their customers as human beings. They only care about the profits that are generated by their customers. Furthermore, the only thing that is going to get their attention is when their "wealth-generat ors" (you and I) hit them where it truly hurts, their pocketbook.
 
 
+3 # Vermonster 2011-11-05 13:06
I recently closed my account with ING as they were acquired by bloodsucking Capital One.

And while we are at it, let’s boycott sociopath Koch brother's products. Here is a short list of those that are commonly encountered:

Angel Soft toilet paper
Brawny paper towels
Dixie plates, bowls, napkins and cups
Mardi Gras napkins and towels
Quilted Northern toilet paper
Soft 'n Gentle toilet paper
Sparkle napkins
Vanity fair napkins
Zee napkins
Anything Georgia Pacific

Below is a link to a more complete list:

http://wemustchange.newsvine.com/_news/2011/03/08/6218429-koch-industries-products-to-boycott






Corporations Are NOT People! Money is NOT Speech! Reinstate Glass-Steagall!
Pro-Life is Anti-Choice! Social Security is NOT an entitlement, it is an EARNED BENEFIT!
 
 
+1 # mwd870 2011-11-05 12:41
I just had a call from "Justice for All and the 99%" (not Justice for All) stating there is a plan in Congress to give BofA a backdoor bailout because of Move Your Money. If true, what gives them the right to do this, especially if this bailout will not be made public? Is it true there is a plan to this effect?

The website named "Justice for All" has a disclaimer they are not making phone calls supporting the Occupy Movement.

I now have a list of about 10 issues to take up with my representatives .
 
 
+3 # MainStreetMentor 2011-11-05 14:05
The Credit Union National Association need to immediately take steps to form and establish their own credit/debit card processing company. Currently all credit unions are contractually bound, directly or indirectly, to the Wall Street Credit Conglomerates. Those ties need to be severed. If it takes legislation at the individual state and national levels, then we credit union patrons need to help get that process started –but you can bet the Wall Street Financial Rapists (WSFRs), will fight like the dickens to prevent that from happening. But … it CAN be done.
 
 
0 # John Locke 2011-11-05 14:31
Looks like Obama will be giving the too big to fail another bail out...
 
 
+6 # Billy Bob 2011-11-05 14:33
Today is the 5th.

Don't think it's over after today. This is A TREND. Doing it today might make a nice statement. But, if you can't get it done today, DO IT ANYWAY, when you have the time.

I moved my bank account about a year ago.

I still have a credit card I plan to do the same with. I won't get it done today, but I WILL GET IT DONE in the next few weeks.

Serious fights are rarely won with one punch. If you're reading this and haven't done it yet, don't feel left out.

Do it when you can.
 
 
+1 # forthepeople 2011-11-05 16:33
I am really tired of the space that Van Jones, otherwise known as the outside insider of Camp Obama, is given without questioning his very real credibility issues. Here he is again, trying to take solo credit for an action he claims to have begun,"just this week." In case you didn't know, these actions have taken place at least since early in the Occupy Movement. Here in Austin, Texas, the Occupiers have denied the Banksters, significant numbers in accounts and dollars, linking it to our well known local movement. MoveOn, a movement that chose to affiliate with VJ's Rebuild the Dream has been working on this action for several weeks. This is the style of Mr. Jones. See where others create wind in sails and step in front to appear the generator of a trend or action. The oNLY THING JONES'S ORGANIZATION HAS CREATED WAS A PHONEY CONFERENCE IN D.C. TIMED TO BEAT STOP THE MACHINE, A LEGITIMATE EFFORT, WITH AN EVENT MADE FOR WASHINGTON INSIDERS. What else would you call a "grassroots event" featuring big fees, special hotel rates of $249 a night that would have cost a couple over $1500 just to attend. It featured an awards dinner (awards for what? You just started.) and tables for the bargain price of $30,000 each. Stop giving these people the space that should be used to cover real people's actions.
 

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