Fire Your Bank

Why Fire Your Bank?

There are many large corporate predatory which deserve to be abandoned by American depositors including PNC, and US Bancorp, but there are four main banking institutions that hold the bulk of deposits in the United States. The “Big Four” currently hold 39% of all U.S. customer deposits (as of 2009). Please click on the links below for the specific rap sheet on each of them:

We should all move our money out of these “too big to fail” institutions in order to send a clear message that we will no longer tolerate their bad behavior.

Why Choose a Credit Union?

Reasons to Change Your Bank to a Credit Union

Click to view the best reasons to make the switch!

List of Servics Offerd by Credit Unions

Credit Unions offer the same services as Big Banks.

HOW TO CHANGE FROM A BANK TO A CREDIT UNION

Some Credit Unions offer a “Switch Kit” online or at branches.

EMAIL YOUR BIG BANK’S EXECUTIVE OFFICERS AND LET THEM KNOW HOW YOU FEEL ABOUT THEIR UNFAIR PRACTICES.

A list of Corporate Bank Boss contact information.

Reasons to Change Your Bank to a Credit Union

  • Send a message to large banks that their predatory behavior has to stop
  • Credit Unions are not-for-profit cooperatives owned by members, not stockholders
  • Credit Unions exist to support the financial wellness of their members
  • The people in our community operate CUs, serving the local community and community causes
  • CU resources are returned to their member owners in lower fees and future products and services
  • You have a voice. Members elect fellow members to serve on the Board of Directors
  • Credit Unions have ethical missions that support the concept of ‘People Helping People’
  • Customer surveys find CUs to be the most trusted segment of the financial services industry
  • Large banks cannot buy out Credit Unions as they can Community Banks

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Now There’s Something You Can Do – Change Your Bank Today!

Credit Unions offer services comparable to large banks with lower fees and higher interest earned. Plus they give back to the local community. So, whether you are an exclusive online user, like to go to a branch location or ATM, or travel worldwide, CUs work for you. CUs have formed networks with each other so you are able to go to other CU locations to bank or ATM. There are different networks, so be sure to check with the CU for details.

CU accounts are also FEDERALLY insured up to $250,000 (just like the big banks) by NCUA. Some CUs even carry additional insurance for investment accts.

Find more information on the history and purpose of Credit Unions here.

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LIST OF SERVICES OFFERED BY CREDIT UNIONS

  • Online Banking
  • Free Bill Pay
  • Direct Deposit
  • No Fee ATM/Debit Cards
  • Free Mobile Banking
  • Free Phone Banking
  • Free Checking Accounts
  • Free Savings Accounts
  • Credit Cards at Low Rates
  • Business Services
  • Investment and Other Options
  • Alliance of Austin Credit Unions, Over 300 ATMs in Austin Area, No Fee
  • Credit Union Service Center, Nationwide Alliance of 4,400 Shared Branches and ATMs

Note: Not all services are offered by every CU. Be sure to check the details of services that are important to you.

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HOW TO CHANGE FROM A BANK TO A CREDIT UNION

Some Credit Unions offer a “Switch Kit” online or at branches.

1. Open Your New Account.

Opening costs of joining a credit union are as low as setting up a $5 savings account. Most checking accounts only require a $25 to $100 initial deposit.

2. Order New Checks and an ATM/Debit/cards.

These typically take 1 to 2 weeks. Some Credit Unions even offer instant Debit/ATM cards issued in minutes. You can apply for credit cards as well.

3. Ask Your Employer to Reroute Your Direct Deposit.

Get a Direct Deposit authorization form from the Credit Union. It should include your new account information. Give this form to your employer and anyone else who makes direct deposits to your account. It may take one or more pay cycles for the change to be made, so keep your old checking account open and watch for the switch.

4. Contact Companies that Direct Debit Your Account.

Ask the CU for an automatic payments authorization form that includes your new account information. Check your last bank statement to be sure to include all authorized debits.

5. Set-up Online Bill Paying for your New Account.

If you like to pay bills online, set up bill payments information for your new account. Also, stop automatic, recurring payments you have established through your old account.

6. Close Your Old Account.

Once you have started receiving direct deposit into your new account and are sure that there are no outstanding checks or automatic debits that need to clear, CLOSE YOUR ACCOUNT. Do NOT simply leave it dormant. If you do not leave enough in your old account to cover debits and checks, you will incur fees from your old big bank. Follow the bank’s procedure for closing out the account.

7. Enjoy The Feeling Of Personally Sending A Message To Large Banks That The 99% Have Had Enough!

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2 Responses

  1. Yes, this is good. I was telling many people that after the Chase Bank arrests, that the next step should have been to immediately call for people to close their bank accounts on a national level.
    I know the Occupy Movement doesn’t want leaders, but I really feel there must be some type of leadership in order to prepare and move to the next step. I don’t feel that camping out and continuous arrests are going to make changes. We have to have solid steps to take to get these changes made. This is a solid step. It should be our goal to make these banks pay taxes. Pulling our money out will hurt them, no matter what they say.

    Moveon.org has also taken a great stance, but we all need solid steps to get this moving.

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