Opinion: Drop your big bank and go local
October 15, 2011
Like many other movements of equality, the most powerful weapon is often financial. When Martin Luther King Jr. was fighting for civil rights, he led a boycott against the unfair bus system. The current movement for fairness doesn’t involve race, but it does involve class.
The inevitable consequence of large businesses taking advantage of their customers is boycotting, and that is exactly what the Wall Street protestors are asking you do. Go to your large bank, close your account and mosey on down to your local or regional bank. Even better, find a nice local credit union for your banking needs.
I remember the first time I heard the phrase, “vote with your dollar.” I haven’t shopped at Walmart in more than six years because I believe that my dollar votes for me every day. I may have to shop at multiple stores, and sometimes I pay a little more; however, I don’t give any of my support to a company that doesn’t care about me or my best interests.
I feel the same about banks that keep raising fees. My bank now charges $39 for an over-the-limit fee, and I now pay for my checks. Yet, my bank is pulling in record profits. I am going down to Kent Credit Union this week, and I am dropping my corporate bank. I hope you will join me in boycotting and consider a local bank or credit union.