Move Your Money Movement

MsDemeanor · 01-07-2010, 06:22 PM

There's a push afloat to get people to move their money from the Big Four to community banks and credit unions. What do you think?

Lots of people think that it's a good idea, but don't want to be bothered with the work required to move an account. Others seem to think that having a branch and ATM on every corner is important. With direct deposit available to so many and pretty much every place one walks in to willing to give cash back on an ATM purchase, I'm curious to know why it is that folks need to have constant and instant access to their bank. It makes sense if you have a business and need to make regular deposits, or your paycheck has to be manually deposited every Friday, but that's not most folks.

Move Your Money

linkyloo to Huffington article

I haven't had a checking or savings account with any of the Big Four since about 1995. Two of them pissed me off so much that I won't even accept their credit card offers. I'm stuck dealing with one (for now) because it gobbled up the regional bank that held my mortgage and one credit card. I have to go to my brick and mortar bank 3-4 times a year, and my online bank has more free ATM sites within 5 miles of my house than any of the Big Four.

weatherboi · 01-08-2010, 05:09 PM

Great thread!!! Thanks MsDemeanor!!

I am huge fan of localizing money!! This is a great way to do it!!

I am also researching nurture capitalism, natural capitalism, and Slow Money Principles.

I don't think this is derailing because these things go hand and hand with the concept you posted. Here are some links to be interested in.

http://www.slowmoneyalliance.org/

http://www.chelseagreen.com/content/...re-capitalism/

http://www.natcapsolutions.org/

http://www.natcap.org/sitepages/pid5.php

cara · 01-08-2010, 05:38 PM

I moved my $ from Washington Mutual (now known as Chase) to a local credit union about 6 years ago. WaMU was messing around with my money and charging me fees upon fees. I changed to the credit union and haven't looked back since. I heart my bank now.

Hadn't heard about the Move Your Money Movement, but I think I will read more about it!

~cara

julieisafemme · 01-08-2010, 05:48 PM

Credit unions are wonderful. I love my credit union. It isn't that hard to change. I did not know about this movement but I think it is a great idea.

theoddz · 01-09-2010, 11:13 AM

Same here. I've been with Navy Federal Credit Union for many years now and refuse to go back to a bank. My mortgage, unfortunately, is held by Wells Fargo, but other than that, I do all my business through Navy Federal. They've always been really really nice to me and have gone wayyy out of their way to help me out in the past. They've earned my loyalty!!!

~Theo~

Diva · 01-09-2010, 12:53 PM

Like some of You, I bank with one of the Big Four (I had no idea they were called this, but it doesn't surprise me.)...........and like some of You, there have certainly been some issues with this bank of mine.....there is always SOMEthing going on with them that just really irritates me.

I don't have a lot of money, but what I DO have needs to be safer than what it is and they need to not be nickle and diming me every 5 seconds.

Currently, I am researching Credit Unions close~by which will suit me better. This year, I will kiss BoA Au Revoir..............

01-07-2010, 06:22 PM	#1
MsDemeanor Member How Do You Identify?: queer stone femme Relationship Status: Happily married to MisterMeanor, the man of my dreams Join Date: Nov 2009 Location: SF Bay Area Posts: 703 My Photo Gallery Thanks: 165 Thanked 1,851 Times in 511 Posts Rep Power: 2698179	Move Your Money Movement There's a push afloat to get people to move their money from the Big Four to community banks and credit unions. What do you think? Lots of people think that it's a good idea, but don't want to be bothered with the work required to move an account. Others seem to think that having a branch and ATM on every corner is important. With direct deposit available to so many and pretty much every place one walks in to willing to give cash back on an ATM purchase, I'm curious to know why it is that folks need to have constant and instant access to their bank. It makes sense if you have a business and need to make regular deposits, or your paycheck has to be manually deposited every Friday, but that's not most folks. Move Your Money linkyloo to Huffington article I haven't had a checking or savings account with any of the Big Four since about 1995. Two of them pissed me off so much that I won't even accept their credit card offers. I'm stuck dealing with one (for now) because it gobbled up the regional bank that held my mortgage and one credit card. I have to go to my brick and mortar bank 3-4 times a year, and my online bank has more free ATM sites within 5 miles of my house than any of the Big Four. __________________ artisan jewelry jewelry gallery

01-09-2010, 11:13 AM	#5
theoddz Senior Member How Do You Identify?: Old Poop Preferred Pronoun?: Mr. Beast Relationship Status: Happily Married Join Date: Nov 2009 Location: Central Texas Posts: 3,506 My Photo Gallery Thanks: 10,837 Thanked 9,879 Times in 2,477 Posts Rep Power: 21474854	Same here. I've been with Navy Federal Credit Union for many years now and refuse to go back to a bank. My mortgage, unfortunately, is held by Wells Fargo, but other than that, I do all my business through Navy Federal. They've always been really really nice to me and have gone wayyy out of their way to help me out in the past. They've earned my loyalty!!! *~Theo~* __________________ *"All that is gold does not glitter, Not all those who wander are lost; The old that is strong does not wither, Deep roots are not reached by the frost."* -- J. R. R. Tolkien

01-08-2010, 05:09 PM	#2
weatherboi Infamous Member How Do You Identify?: Owned boy Preferred Pronoun?: Hey boy!!! Relationship Status: counting freckles slowly under Her direction!!! Join Date: Nov 2009 Location: i have 2 sets of geographic coordinates!!! Posts: 6,097 My Photo Gallery Thanks: 26,797 Thanked 12,558 Times in 2,992 Posts Rep Power: 21474857	Great thread!!! Thanks MsDemeanor!! I am huge fan of localizing money!! This is a great way to do it!! I am also researching nurture capitalism, natural capitalism, and Slow Money Principles. I don't think this is derailing because these things go hand and hand with the concept you posted. Here are some links to be interested in. http://www.slowmoneyalliance.org/ http://www.chelseagreen.com/content/...re-capitalism/ http://www.natcapsolutions.org/ http://www.natcap.org/sitepages/pid5.php

01-08-2010, 05:38 PM	#3
cara Senior Member How Do You Identify?: Queer/lesbian femme Preferred Pronoun?: She/her Relationship Status: Married to my love 08.15.15 Join Date: Nov 2009 Location: Snohomish County, Washington State Posts: 3,401 My Photo Gallery Thanks: 11,994 Thanked 13,254 Times in 2,724 Posts Rep Power: 21474854	I moved my $ from Washington Mutual (now known as Chase) to a local credit union about 6 years ago. WaMU was messing around with my money and charging me fees upon fees. I changed to the credit union and haven't looked back since. I heart my bank now. Hadn't heard about the Move Your Money Movement, but I think I will read more about it! ~cara

01-08-2010, 05:48 PM	#4
julieisafemme Member How Do You Identify?: Femme Woman Preferred Pronoun?: She Relationship Status: Married to Greyson Join Date: Nov 2009 Location: In the present Posts: 828 My Photo Gallery Thanks: 3,156 Thanked 3,445 Times in 660 Posts Rep Power: 21474851	Credit unions are wonderful. I love my credit union. It isn't that hard to change. I did not know about this movement but I think it is a great idea.

01-09-2010, 12:53 PM	#6
Diva Timed Out How Do You Identify?: Diva Preferred Pronoun?: Diva Join Date: Nov 2009 Location: Chez Diva Posts: 11,879 My Photo Gallery Thanks: 9,263 Thanked 17,179 Times in 5,238 Posts Rep Power: 0	Like some of You, I bank with one of the Big Four (I had no idea they were called this, but it doesn't surprise me.)...........and like some of You, there have certainly been some issues with this bank of mine.....there is always SOMEthing going on with them that just really irritates me. I don't have a lot of money, but what I DO have needs to be safer than what it is and they need to not be nickle and diming me every 5 seconds. Currently, I am researching Credit Unions close~by which will suit me better. This year, I will kiss BoA Au Revoir..............