Boycott Big Banks (February 1, 2010)

. . .

P          “That’s the answer.  Boycott Big Banks.  The government bribes and bails them out while the people boycott them.  Shift support, transfer dollars and take business to credit unions.”

Q          “Makes sense and may make dollars and cents.  Dollars are votes.  Vote your dollars.”

P          “There are times when you may want to retain shares if you can vote the shares and shape the institution.  However, the only way to vote your shares – your dollars – is to transfer them to another institution.  I have banked at credit unions for as long as I can remember.”

Q          “I transferred my bank account to a credit union last year.  At the time, I was driven away by the bank rather than being attracted to a credit union.  The third time that the Big Bank changed its name from Big Bank to Big Bank, I transferred my accounts.”

P          “You still need to compare services and costs.  The NCUA (National Credit Union Association) rarely has to cover credit union failures whereas the FDIC (Federal Deposit Insurance Association) is regularly taking over failing banks and may be bankrupt itself.  When the stuff hits the fan, there may be a period of time when the FDIC may not be able to cover losses and claims despite claims about full faith and credit.”

. . .

[See the “e-ssay” dated November 2, 2009 titled “Sagacious Financial Advice From A Financial Sage” on banking and the financial world.]

Bumper stickers (and buttons) of the week:

Boycott Big Banks.

Boycott Big Banks.  Support credit unions.

I bank with a credit union.

Credit unions you can bank on.

I boycotted.  Have you?

I transferred (to a credit union).  Have you?

My money is in a credit union.

I [heart symbol] credit unions.

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