Bank Action Working Group

We’re making progress! Next Thursday at the Austin City Council meeting, members will be discussing our resolution pushing the City to divest from Wall Street banks. Its a small step in the right direction. Occupy Austin is calling on all supporters to call AND email Council Members Riley, Martinez, Spelman and Mayor Leffingwell and tell them to support Council Member Morrison’s and Tovo’s “responsible banking resolution” next week. Council Member Cole is showing signs of support.

For a copy of the resolution, like our page “Occupy Austin Bank Action.”

Council Member Bill Spelman (512) 974-2256, Bill.Spelman@ci.austin.tx.us

Council Member Chris Riley (512) 974-2260, Chris.Riley@ci.austin.tx.us

Council Member Mike Martinez (512) 974-2264, Mike.Martinez@ci.austin.tx.us

Mayor Lee Leffingwell (512) 974-2250, Lee.Leffingwell@ci.austin.tx.us

Where you choose to take your business, in many ways, has more impact than your vote. Implicitly, you condone the actions of any company that you support financially. So why not support what you want to see more of? How about strong local economies, improved communities and responsible lending? How about standing strong and proud for the kind of banking that we actually need, rather then the dangerous international casino? There is no real downside, takes an afternoon, helps your neighbors prosper. No brainer really, thats why I did it.

By now we should all be aware of just how evil the big banks are. I’d like to give my two cents worth on local credit unions. That’s where one should have their money invested! Credit Unions (CU) have alliances that enable you to bank at other CUs. The Austin Alliance of CUs (AACU) is a network of 14 CUs with over 200 shared ATMs with no transaction fee. The Credit Union Service Center (CUSC) is a national alliance of CUs giving you access to 4.400 locations where you can bank – withdraw cash, deposit money, etc. You can belong to one CU and bank at thousands of partner CU locations in the U.S.
Credit Unions are non-profit coops owned by members. They invest in the local community lending more to people and small businesses. Members select other members to serve on the Board of Directors. Credit Unions rock! Send a message to banks to stop their destructive policies. BTW – as we left Wells Fargo after closing our account of 32 years we handed the woman who was helping us a sheet of paper that listed many of the atrocities of Wells Fargo and told her “This is why we are leaving Wells Fargo, share this with your co workers”.

Anonymous statement
I have moved my money from Wells Fargo to a credit union for two reasons: 1) I’m sick of the red tape and hidden fees of banks. 2) I’m sick of how (bail out) banks have acted in recent years

The City of Austin should divest from Bank of America. BofA has shuttered more homes since 2007 than any other bank. It is kicking people out of their homes, in some cases, without any proof that they hold the mortgage on these homes. This devastates our communities and tears apart families already struggling to get by. The City of Austin is all about going green, but yet we put our money into a company who is heavily invested in mountaintop removal and has granted billions in loans to the US coal industry. If we want to create an environment that is healthier and keep families in their homes, we should be moving our funds to institutions that are responsible to our community.

I am not an Austinite (sp?) in the sense that I was born or raised here. I’m a New Yorker who recently moved to Austin for a better life. What I found when I got here was a community that was not only open to the idea and implementation of supporting the local businesses, but a general social confidence and pride in shopping local and supporting local artisans and businesses. The fact that this somehow has excluded the local banks, makes no sense to me. The World Banks have failed the citizens of this country by only looking out for themselves time and time again. It is the people that suffer every time. Austin is a place made weird by its ideals of community and openness to people, ideas and taking care of its own. Having Austin be a local bank city only strengthens the mission of what this place was built for. It keeps money in the local economy, and allows for more opportunity to grow and prosper, no matter what is happening anywhere else. Coming from a place like New York City, where you don’t even know the name of your next door neighbor, it’s has become a valuable asset for me to know the people who make my cheeses, distribute my coffee, work with me, play with me and last but not least, bank for me. The strength of our banking system is at the heart of every opportunity given to us. It is where our monetary needs are satisfied and where companies and ideas get the chance to grow. If Austin is all about keeping it local, why would it not be supporting local banks as well? The fact that I am now able to look the person who handles my family’s livelihood (money), in the eyes and know they are looking out for me, because I am a neighbor, a friend and a repeat business for them, who helps to pay for their livelihood as well… is so empowering. Keep Austin Weird, Keep Austin money Local.

Gem Hurlman