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Bank Transfer Day: Over 75,000 Respond to November 5 Event

By chrismontyon Nov-4-11

From:  blippitt.com

 

Americans are fed up with greed, capitalism, and especially big banks. Consumers are finally getting the message and learning to speak with their wallets.

As the Occupy movement gains momentum across the nation, another movement is quickly gaining traction…Bank Transfer Day, a Facebook movement urging people to move their money from large banks to local credit unions on November 5, 2011.

“If you don’t believe in a company’s practices or feel that a company’s practices are unethical, then, very simply, you should not have money with that company,” the 27-year-old creator of the event, Kristen Christian, told KTLA Live.

“I was tired of paying outrageous fees to banks for a severe lack of services. I was tired of having my money access determined by a corporation and the final straw because I was tired of banks targeting the impoverished and working class,” she said.

Both the banking and credit union industries are bracing for a busy tomorrow (Saturday), when many customer are expected to calmly and respectfully transfer their balances out of their existing banks and into local credit unions.

Kristen says she chose November 5th of its association with Guy Fawkes, who tried to blow up the British House of Lords, but was captured on that date in 1605…hence the Anonymous-like logo above.

So far, over 75,000 people are “attending” the event, which was posted to Facebook here.
From the official event description:

Together we can ensure that these banking institutions will always remember the 5th of November. If we shift our funds from the for-profit banking institutions in favor of not-for-profit credit unions before this date, we will send a clear message that conscious consumers won’t support companies with unethical business practices. It’s time to invest in local community growth.

• Research your local credit union options
• Open an account with the one that best suits your needs
• Cancel all automatic withdrawals & deposits
• Transfer your funds to the new account
• Follow your bank’s procedures to close your account before 11/05

FIND A CREDIT UNION

USA: http://www.findacreditunion.com/

CANADA: http://locator.cucentral.com/

UK: http://www.findyourcreditunion.co.uk/

While the Bank Transfer Day movement acknowledges the enthusiasm from Anonymous and Occupy Wall Street, the Bank Transfer Day movement was neither inspired by, derived from nor organized by Anonymous or the Occupy Wall Street movement, and the Bank Transfer Day movement does not endorse any activities conducted by Anonymous or Occupy Wall Street.

The Credit Union National Association (CUNA) said the association’s web site aimed at informing customers about credit union services has seen traffic double. CUNA members reported an increase in account openings. According to Bill Cheney, CUNA’s president and chief executive officer, the current surge in account openings has been more sustained than similar surges in the past.
So what do you think? Will you be participating in Bank Transfer Day?

Get more info at the official Bank Transfer Day Facebook page here.