Bank Transfer Day is a consumer activism initiative calling for a voluntary switch from commercial banks to not-for-profit credit unions and community banks by November 5, 2011. As of October 15, 2011, a Facebook page devoted to the effort had drawn more than 54,900 supporters. Debit card fees of $5 a month from the Bank of America are among steps leading to the Bank Transfer Day protest with a November 5 deadline. Occupy Wall Street participants support the effort even though the events are not related.
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The Facebook page for the event states the following:
"Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won't support companies with unethical business practices." more here
http://en.wikipedia.org/wiki/Bank_Transfer_Day650,000 Switched to Credit Unions in October (OWS Score!)
NOVEMBER 4, 2011 BY ZACHARY SHAHAN
If you haven’t heard by now, credit unions are making a killing off of the fast-growing Occupy Wall Street movement. 650,000 people moved from big banks to credit unions in October, 50,000 more than in ALL of 2010. New deposits totaled $4.5 billion. I think that while big banks aren’t suffering yet, they’re feeling the heat. People are pissed. The big banks screwed the country, then got bailed out by the government (screwing the country again), and then went ahead and paid out record bonuses to banking execs. They thought they got away with it too, until Occupy Wall Street came along….
Now, these banks aren’t really making any concessions to the 99% (other than deciding NOT to add a new $5/month charge for having a debit card.. yippee!). Instead, they seem to be putting their money on getting Mitt Romney elected as the next president of the United States. And I imagine they are hoping the 99% of the U.S. that has been getting screwed for the past couple decades just cools off and goes back to watching TV in all its spare time.
But I don’t think either is going to happen. The 99% are marching on, and they are marching out of banks. Tomorrow, November 5, is actually “Bank Transfer Day” — I’m looking forward to seeing the statistics from it. And my bet is this mass exodus from society’s institutional robbers will continue in the months to come.
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http://planetsave.com/2011/11/04/650000-switched-to-credit-unions-in-october-ows-score/