HOW REP. SCHAKOWSY SWITCHED BANKS

[laughingliberal]

Members of congress on both sides of the aisle are catching on to the wave of change. Rep. Jan Schakowsky (D-Ill.) said “bye bye” to Bank of America over the weekend and moved her money to Devon Bank, a local community financial institution in the neighborhood she grew up in.

The friendly bankers were happy to see me and helped me open a new checking account. I can still bank on line, get a debit card, and use without charge a network of ATMs that are conveniently located. They gave me a map that I’ll keep in my car. Not only that, they will pay me 4.15% interest on my balance up to $20,000 and they gave me a very nice pen set and a clock!
I hadn’t even realized how good it would feel. Over the last year, I knew in my heart, that I had to get out. I saw, along with millions and millions of my fellow Americans, that my long gone community bank wasn’t the only one being swallowed up. Our entire economy was being digested by the big, greedy, reckless behemoths that could care less about me or any of us. With only four banks holding nearly 40% of all deposits, we learned the hard way just what “too big to fail” really means. It means to save our own necks, we had to rescue the monsters, or to carry on the first metaphor, our abusers.

http://moveyourmoney.info/

Heh.Guess she forgot to listen to Timmeh explain why moving your money isn't a good idea. Oh, wait. He didn't say why it was a bad idea, just that it is.

[AndyA]

1. I opened a new account last week with a local bank.

It's a big one, but based here where I live. Bank of America will be getting the "I'm here to close my account" visit from me as soon as my new checks, ATM card, etc. arrive.

F*UCK Bank of America.

[apnu]

2. Been small town Credit Union banker for 5 years, and I'm still happy.

Never had a hassle from them. Never had to go through a background check (and told it was for my own good). Never got jacked by hidden fees and strange accounting (had one big bank actually charge me with an over draft fee before checks bounced, damn annoying). None of that bullshit.

And I'm supporting my local economy as my local bank is very interested in keeping the cash flowing near it. BofA could give a shit about me and my town, county and state.

Bank locally people: they'll be happy to see you and you're providing jobs where you live. Its win-win.

[RC]

3. Pays 4.15% on a checking account? Really?

"Not only that, they will pay me 4.15% interest on my balance up to $20,000 and they gave me a very nice pen set and a clock!"

[vicdoc]

6. They're out there...

I have a local bank (my home mortgage is here, too) I just shifted some money to that pays 4.01% for my checking account, the strings:
you have to use a debit card 10 times a month, make 1 electronic bill payment, and use e-statements.
Good for up to $25k. If you fail to do what they want or go over $25k in the account, they will pay 0.1%.
I use the card for small things, snacks, etc and pay my phone bill. The interest more than covers my purchases. It's almost like getting something free!
Certainly better than the miserable 0.7% I get at another bank.

[Liberal In Texas]

4. Been in a CU since I got teed of at a big bank back in the late '80s.

Very few problems ever. Never caught them in a mistake.

There was a small problem when I tried to deposit a check drawn on a bank in Japan for a photo shoot I did for a company located there. It seems CUs don't usually have affiliations with the banks that do international account routing (as far as I was able to understand it). After many phone conversations with a CU exec we got it worked out. I can't imagine a big bank going to the trouble to work with a customer like they did. Also we're considered members, not customers.

[eomer]

5. Actually, I think you're the owner, aren't you?

Aren't credit unions owned by their members?

[brewens]

7. A local CU had a program to sign up high school students

when I was a kid. I have never had an actual bank account.