Monday, October 17, 2011
Ditch Your Bank and Join a Credit Union
When I started banking, my first bank was a small savings and loan. Back then there was a clear distinction between commercial banks and bank for regular folks. After buying my apartment, I took a walk and found the main branch of a small bank a few blocks from the house. Over the years things have changed and my small bank was gobbled up two or three times. The last time it was eaten by a foreign banking conglomerate. They immediately started imposing fees. I felt they wanted me to pay for their merger. After almost twenty years, it was time to get another bank. Luckily I was moving so I shopped around for a better place to do business. My new town had a credit union which I immediately joined. They have virtually no fees and they are about a block from the house. We should all get rid of our commercial bankers and get a more customer oriented bank. I'm all for the Occupy Wall Street folks and I think we can all do our fair share by pulling our money out of their system. They don't need us, let them make money with the rich. I am all for completely closing our wallets to the corporate banking machine and its wild running dogs the credit card companies and the culture of consumerism. Join a credit union and stop shopping.
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I agree with this, though I think it's easy to stop shopping when you don't have kids who want this and that. I don't need clothes, but if I had small children, they would need clothes. So to stop shopping is easier said than done.
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