Break Up With Your Bank
Breaking Up Isn’t Hard to Do
Take action by investigating locally-owned and operated banks or credit unions. Investing in local institutions will have a positive impact on your community. (Make sure the bank is FDIC insured and the credit union is NCUA guaranteed.) Then tell your national bank : “I’m moving my money to a financial institution where I can be assured my money will be invested in projects to benefit my community.”
Actions for Branches
1. If your branch account isn’t already in a local bank or credit union, move it.
2. Have a program on local banking. Invite representatives of local banks and credit unions to be on a panel to explain the advantages of banking with them. When the Santa Cruz WILPF Branch held a recent program on banking, they attracted 80 people – not bad for a small town! The branch invited representatives from two local banks and two credit unions to speak at the event. The panelists said they capture only 10 percent of the local banking business. Branch member Nancy Abbey said WILPFers would like to see those figures reversed, or at least at a 70/30 split. “The appeal in a small town like ours is that the local banks invest in local businesses, organizations and individuals and we can see where our money goes,” she said. (For resources to hold your own event, a sample invitation, panel questions, or graphics, contact firstname.lastname@example.org.)
3. Show Claim Your Change – a powerful four-minute video that connects your banking practice with environmental issues (http://claimyourchange.wordpress.com) - to students at your nearest college or university, local environmental groups, or political organizations. Put it on your website and urge other organizations and locally owned businesses in your community to do the same.