Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

HOW REP. SCHAKOWSY SWITCHED BANKS

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
laughingliberal Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:17 PM
Original message
HOW REP. SCHAKOWSY SWITCHED BANKS
Members of congress on both sides of the aisle are catching on to the wave of change. Rep. Jan Schakowsky (D-Ill.) said bye bye to Bank of America over the weekend and moved her money to Devon Bank, a local community financial institution in the neighborhood she grew up in.

The friendly bankers were happy to see me and helped me open a new checking account. I can still bank on line, get a debit card, and use without charge a network of ATMs that are conveniently located. They gave me a map that Ill keep in my car. Not only that, they will pay me 4.15% interest on my balance up to $20,000 and they gave me a very nice pen set and a clock!
I hadnt even realized how good it would feel. Over the last year, I knew in my heart, that I had to get out. I saw, along with millions and millions of my fellow Americans, that my long gone community bank wasnt the only one being swallowed up. Our entire economy was being digested by the big, greedy, reckless behemoths that could care less about me or any of us. With only four banks holding nearly 40% of all deposits, we learned the hard way just what too big to fail really means. It means to save our own necks, we had to rescue the monsters, or to carry on the first metaphor, our abusers.

http://moveyourmoney.info /

Heh.Guess she forgot to listen to Timmeh explain why moving your money isn't a good idea. Oh, wait. He didn't say why it was a bad idea, just that it is.
Printer Friendly | Permalink |  | Top
AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:42 PM
Response to Original message
1. I opened a new account last week with a local bank.
It's a big one, but based here where I live. Bank of America will be getting the "I'm here to close my account" visit from me as soon as my new checks, ATM card, etc. arrive.

F*UCK Bank of America.
Printer Friendly | Permalink |  | Top
 
apnu Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:46 PM
Response to Original message
2. Been small town Credit Union banker for 5 years, and I'm still happy.
Never had a hassle from them. Never had to go through a background check (and told it was for my own good). Never got jacked by hidden fees and strange accounting (had one big bank actually charge me with an over draft fee before checks bounced, damn annoying). None of that bullshit.

And I'm supporting my local economy as my local bank is very interested in keeping the cash flowing near it. BofA could give a shit about me and my town, county and state.

Bank locally people: they'll be happy to see you and you're providing jobs where you live. Its win-win.
Printer Friendly | Permalink |  | Top
 
RC Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:51 PM
Response to Original message
3. Pays 4.15% on a checking account? Really?
"Not only that, they will pay me 4.15% interest on my balance up to $20,000 and they gave me a very nice pen set and a clock!"
Printer Friendly | Permalink |  | Top
 
vicdoc Donating Member (28 posts) Send PM | Profile | Ignore Mon Jan-25-10 06:14 PM
Response to Reply #3
6. They're out there...
I have a local bank (my home mortgage is here, too) I just shifted some money to that pays 4.01% for my checking account, the strings:
you have to use a debit card 10 times a month, make 1 electronic bill payment, and use e-statements.
Good for up to $25k. If you fail to do what they want or go over $25k in the account, they will pay 0.1%.
I use the card for small things, snacks, etc and pay my phone bill. The interest more than covers my purchases. It's almost like getting something free!
Certainly better than the miserable 0.7% I get at another bank.
Printer Friendly | Permalink |  | Top
 
Liberal In Texas Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:08 PM
Response to Original message
4. Been in a CU since I got teed of at a big bank back in the late '80s.
Very few problems ever. Never caught them in a mistake.

There was a small problem when I tried to deposit a check drawn on a bank in Japan for a photo shoot I did for a company located there. It seems CUs don't usually have affiliations with the banks that do international account routing (as far as I was able to understand it). After many phone conversations with a CU exec we got it worked out. I can't imagine a big bank going to the trouble to work with a customer like they did. Also we're considered members, not customers.

Printer Friendly | Permalink |  | Top
 
eomer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:12 PM
Response to Reply #4
5. Actually, I think you're the owner, aren't you?
Aren't credit unions owned by their members?

Printer Friendly | Permalink |  | Top
 
brewens Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:21 PM
Response to Original message
7. A local CU had a program to sign up high school students
when I was a kid. I have never had an actual bank account.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun Sep 21st 2014, 02:23 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC