Bank Transfer Day

I did this 2 years ago, I may have written about it.  The bank was only offering incentives and higher interest rates on savings and CDs to NEW customers. I have to say I made the right decision.

I remember this being suggested a while back when bailed out banksters refused to lend money to anyone or help homeowners with mortgage issues.  I believe it was also suggested by Arianna Huffington, with all due respect. Funny, how all it takes is an angry citizenry to cause such a stir and potential chaos.  I mean that it a very good way.  From Common Dreams:

‘Bank Transfer Day’ Causes Credit Union Buzz

by Jim Rubenstein

Even with most credit unions closed for Columbus Day there was plenty of online buzz, and uncertainty, about what the credit union industry role might be on “Bank Transfer Day,” the latest event surfacing from the “Occupy Wall Street” protests.
Industry sources, speaking off the record, suggested any wholesale switch from large banks to CUs on Nov. 5, the day designated by one Californian and carried atwitter Monday, could conceivably put net worth ratios out of whack.
The balance sheet problem was raised by several industry officials as a potential hazard as online articles focused on what “Occupy” supporters are calling now for a specific action to underscore their complaints against big banks and corporate “greed.”
For the record, Mark Wolff, CUNA senior vice president-communications, said only that the trade group welcomes the idea of “a viral 'Bank Transfer Day'” since it shows “just how angry consumers are becoming with their treatment by big banks” and will now look at CUs.
CUNA said its Facebook posts have already witnessed big jumps in traffic on www.asmarterhoice.org. There also have been big gains on www.findacreditunion.org.

Read it all HERE.

And so it goes.
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