Bank Transfer Day Movement to Close Big Bank Accounts by November 5, 2011

Bank Transfer Day is a movement for people to close big bank accounts by November 5, 2011.

Bank Transfer Day organizers and supporters believe that if the “99%” removes their funds from major banking institutions and deposits them into non-profit credit unions by November 5th, then a clear message will be sent to the “1%” that conscious consumers won’t support companies with unethical business practices.

Check out the Bank Transfer Day Facebook Page to learn more about this movement.

Bank Transfer Day wants you to close your big bank account on or before November 5, 2011, and to deposit your money in your local credit union.

Their mission is to re-invest in local communities through the transfer of funds from “big banks” to credit unions.

What do you think? Will closing your bank account stick it to the 1%’ers?

What about the 99% members that work for big banks, won’t they be in danger of losing their jobs if the Bank Transfer Day movement works?

Comments

  1. Anonymous says

    As an employee of a large financial institution, I’m, proud of the amount of money that we give back to the community and to charity. The staff members are equally active in the community and donate a lot of their personal time to contribute to the reputation of our business. I strongly believe that the fees paid by our clients for bank accounts are justified. We are a business and it’s how we stay afloat. Banking with credit unions definitely has its perks, but there are also a lot of benefits to banking with an institution that is nationwide. It provides you peace of mind when you’re out of town, or on vacation and need to access a branch.

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