On Rick Sanchez: Arianna Huffington says pull your money out of big banks

[muntrv]

and put it into local community banks.

[Deep13]

1. I did that years ago. nt

[phasma ex machina]

10. +1 Credit Unions work best for real people.

[roguevalley]

26. credit union one. my bank.

[leftstreet]

2. Who has money?

[NorthCarolina]

7. +1 (nt)

[G_j]

12. +0

[Mari333]

19. rofl amen

Happy New Year btw

[onehandle]

3. Where's her money? nt

[earthboundmisfit]

4. Local banks

and credit unions.

[doc03]

5. Never had mine in any big bank, my bank has

only four branch offices pays better interest, has lower fees and gives better service than any of the big ones.

[DavidDvorkin]

6. I did that decades ago, but then

that bank got bought. And that one was bought. And so on. Now what was my local bank is a branch office of Wells Fargo.

[Fire1]

8. Been contemplating that and think I will. n/t

[Goldstein1984]

9. The Palestinians are doing this to Israel right now

with significant effect:

Pulling money out of banks
Boycotting markets
Divesting in general

This is the kind of economic impact that will get the attention of Wall Street.

If not local banks, use a credit union.

[Graybeard]

11. Melrose Credit Union just opened in my neighborhood.

My bank now is HSBC. They seem to have come out of all of this pretty clean. Am I wrong about that? Should I transfer my accounts?

[bridgit]

13. We're moving to a state credit union

[David Zephyr]

14. I had most of my money in local banks. They failed. Now they are part of the big banks.

Just be sure your money is FDIC insured.

[NNN0LHI]

15. I am going to move my entire fortune today

All $90 dollars.

Don

[LostInAnomie]

16. I'd be more than willing to bury people's money in my back yard in coffee cans.

* Not responsible for mole or varmint damage.

[katkat]

17. Credit unions

repeat after me, credit unions.

[tbyg52]

20. +1 nt

[madrchsod]

18. what we have is in a small regional 5 star local bank.

the service is great plus they have worked we us on our mortgage payments. our loan is 3.14% this year.

[Prometheus Bound]

21. Why?

To support community banks or because she expects some of the big banks to go bust?

[gleaner]

22. Consider Credit Unions .....

Chase took over my bank, so I moved to a credit union. I think its a much better place to keep my money. It is owned by the depositors, but still regulated and has the freedom to care for its customers that banks don't. Credit unions also welcome small depositors and do not penalize you for not being able to keep thousands of dollars in a savings account. Chase did. They would charge $7.00 per month per account unless you did.

Credit unions are also much better about loans and credit cards, though I'm not using credit until things are better regulated across the board.

[roamer65]

23. Be careful and check the FDIC troubled bank list before you move your money.

I agree with Arianna, but check the FDIC troubled bank list before you move your $$.

The list is frequently posted at http://calculatedriskblog.com

[phasma ex machina]

25. +1 Just about time for the next episode of the FDIC Friday Night Fright Show.

Boo!

[GrantDem]

24. I use our local Credit Union.

will never use a "bank" again.