Did Large Banks Lose Over $5 Billion on Bank Transfer Day?

Posted by Greg Scott _Featured_, Economy Monday, November 7th, 2011

Remember, remember the fifth of November?  Voting with your dollars may have more impact than voting for a politician.  Since September 29th the credit unions have added billions to their coffers according to the Credit Union Natl. Assoc.  Over half a million new customers have left big banks and opened new accounts at credit unions.

Most of the growth can be attributed to banks raising their fees such as Bank of America charging $5/mo. for debit cards (click here to close your BofA account).  Even the mainstream media gave it momentary coverage last Thursday in a positive light.

The Occupy Wall Street movement in New York is also supporting a “Move Your Money” event and there is also a Facebook page.  The movement is also a tribute to Guy Fawkes who was an anarchist in the UK who wanted to blow up the Parliament building on November 5th, 1605 in what was known as the “Gunpowder Plot.”

Source:  cuna.org 

Photo:  Sarah G. Flickr Photostream Creative Commons 2.0