It’s Bank Transfer Day or Move Your Money Day, and all across America, people are reporting on the change they are making in their own lives as they drop their failed bank and switch to a local credit union.
Apparently Bill O’Reilly, on FOX last night, claimed nobody was going to do this. Then he said Geraldo Rivera will report on Sunday if ONE person does. Well, I guess he didn’t get the memo, because 650,000 people joined Credit Unions already in the past month – more than in all of 2010!
Have you switched your bank as part of this movement? Tell us in the comments! (And don’t worry if you haven’t done it yet – the banks open up again at 9:00 on Monday – see the end of this post for information on how you can switch to a local, customer-owned credit union).
Here are some stories gleaned from around the Internet:
Two more accounts closed, Checking and Savings…I told the Bank of America Account Manager, nicely, that I know he is just a working person like me; it’s his bosses that I have a problem with, and my moral compass doesn’t line up with them. After my explanation, he whispered “I give you mad respect. Maybe this will cause enough change for you to return someday.” Then he shook my hand. I’m not even paraphrasing. He said “mad respect”! Incredible. Be nice to all workers while moving your money. But do move it. They aint THAT nice…
Cherie Nordstrom Braun
I’ve opened my CU account, but they have been so deluged with new accounts opening in the past few weeks, they haven’t finished with all the details so I can’t move the rest of my money yet. But it’s in the process and hopefully by the end of next week. I consider Bank Transfer Day a catalyst, and you don’t have to do it today to make your point – just DECIDE today that you will! Oh, and although I had never seen the manager at my current bank before, the day I took out a big chunk of money to move, he was behind the counter, and offered to talk with me about why I should reconsider. Thanks, but no thanks.
Moved my daughter’s IRA to our credit union because US Bank wants to charge a $40 annual “maintenance fee”.
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Students at Washington University in St. Louis sent a message to Bank of America and moved their money to St. Louis Community Credit Union
Tripnman, from The Daily Bail blog
The manager was pleasant enough and very direct. After introducing herself she flat out asked “What can we do to change your mind?” “We don’t want to see you go” she emphasized. This opened a door for me to further explain my decision to leave the bank and why I was doing it. Amazingly, it did not fall on deaf ears. She indicated that understood where I was coming from and actually showed genuine surprise at some of the facts I provided her about the less than consumer friendly policies and machinations of her employer.
She did make some feeble counter-arguments and repeatedly asked me if I would change my mind (with a hint of desperation!). I stood firm and by the end of our conversation she asked if I would be willing to put it all in writing so she could send it up the chain.
She shared that management is nervous, they are seeing money leaking out of the bank and realize that they have made mistakes.
Next page >> More stories (and how-to links)
More on bank protests:
- “He has a right to speak”, said the cop to the banker
- Bye bye, banks: 650,000 switched to credit unions last month!
- DON’T close your Citibank account today. They’re arresting people
- Citibank was stupid. Chase bank was smart.
- Citibank arrestees say undercover cops set them up
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