Vote with your $$, Vote with your feet, Move your bank accounts

As I touched on in Banks, Boobs, Bamboozled I moved my checking account.  I had been with Bank of America.  I initially signed up with them when I moved to a new town and I was in hurry to get a bank.  The more I learned about BoA, the unhappier I became with banking there.  I stayed with BoA much too long due to inertia. It is a pain changing banks.  But I finally bit the bullet and made the change.  I chose Regions as they have branches in both St. Louis and Memphis.  I had only been with them a few months when they decided they just had to charge their customers for use of their debit cards. (They have since reversed that decision, but they have lost my trust)  I immediately started the process of changing banks.  I went with the local company credit union.  Much to my surprise there is a network of ATMs that I can use free of charge available to credit unions.  My thought with Regions was to avoid ATM charges which irk me to the extreme.  I have gotten settled in my new bank, my automatic deposits and bill pays are happening, a no charge ATM is handy.  My banking life is good.

A fact that sometimes seems to go unconsidered is that dollars are votes.  Let me repeat that – Dollars are votes.  If you buy something you are voting for that product, you are voting for the store that you bought it at.  The same goes for banks.  Using a particular institution is essentially a vote for their business practices.  Many of these large banks were at the heart of the mortgage/financial meltdown.  Do not vote for such practices by continuing to do business with them.  Move your money to a local bank or credit union.

As this article details: Beyond the Banks, 3 More Ways to Move Your Money Away from Corporations, the trick is to:

  1. Buy Local
  2. Buy Union Made
  3. Buy Green
  4. And I would add Made in the USA

If you want some more reasons why you should move your money, and tips on how to do it check out this article: Happy Bank Transfer Day! 3 Resources to Help Your Leave Your Corporate Bank

Bank Transfer Day was November 5th.  There is absolutely no reason not to keep the ball rolling.  There are a multitude of reasons to do so.

See you at the credit union.
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10 Stories of People Moving Their Money, Despite Banks’ Efforts to Stop Them

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