Mon Feb 01, 2010 at 12:13:47 PM EST
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There’s this new website which is encouraging people to move their money out of large banks and into community banks or credit unions. I heard about it on NPR this weekend and decided that I’m going to do it. Yes, my giant bank is convinent, but it's also evil. A smaller one that is close to my job would be convenient too and I already go to whatever random ATM I see anyway, incurring fees. I don’t really do too much else at the bank. And sorry to be crude, but F banks being “too big to fail.” If they’re too big to fail, they’re too big to manage.
Here’s what Move Your Money’s saying: “Community banks are typically more conservative about how they manage their money, they’re more closely connected to the people and businesses that live near them, and they’re more inclined to make loans they know will get paid back. In other words, they have the values that more people would want banks to have.”
On their website they have way to search the closest community, which oddly named my closet bank as Woori Bank, a bank headquartered in Korea. Eh...that makes no sense, but I guess I’ll figure it out. |
| Mae Singerman :: Move your Money! |
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