November 5 Bank Account Closure Day

[bedouina]

On November 5, the Occupy movement around the USA is asking people to remove whatever funds they may have from major banks and deposit them, if necessary, in a small local bank or credit union.

Is anyone interested in going to our respective banks together, taking our money out and maybe depositing them at an honest institution (if that is not an oxymoron!).

Please email me at [e-mail] if you would like to take this action together. My little account is at US Bank near the mall.

Thanks for your support.

[rebecca]

I'd be interested in it if actually included the majority of people in the Occupy Missoula group. I wouldn't want it to be just a few people -- it wouldn't be particularly effective that way. From the last GA meeting, I couldn't tell how many people support this and its a lot to organize by November 5th.

Rebecca

[piglet]

This is a great idea. I would do it if the little money I have wasn't already in a local-yocal bank.

[bedouina]

Thanks Rebecca and Piglet for your feedback.

On November 5, I will be closing out my account, and of course, it is understandable if that is difficult or too soon for some people. I chose the date as it is posted as a nationwide date to do this action. The date and place don't matter. The message to the institutions is what counts. A trickle can become a flood...

[josh]

In my mind, it's not a problem if we don't have everybody trying to close their accounts all at once or if it's not a traditionally organized action. It may actually avoid some problems, since we already have accounts of OWS folks being arrested when going en masse to close their accounts. I believe the reason for the arrests is something like "conspiracy to cause a bank run," which is obviously ridiculous. The idea for me is not to force these banks to shut down (even if all us regular folks decided to pull out, they'd still have plenty of money to keep operating in some capacity) but for us to remember that we have consumer choice. This is one of the benefits of a "free market" and we just need to keep reminding ourselves and each other that if we're pissed off at the banks, we can stop doing business with them. They have not been punished by either the market or the government, so it's up to us individuals to make them feel a little pain. And not only do we deny them the use of our money, but hopefully we will be putting it towards things that really will make a difference and not just perpetuate the same old B.S. I'm pushing for the creation of a financing mechanism (a bank, if you will) to fund cooperative economic enterprises (i.e. worker-owned and managed). I think that's the new paradigm we need to start creating a more just economic system.

[johnmak]

Happy to say that some of these financial institutions may face punishment soon. The Attorneys General of both New York and Delaware, where these institutions exist, have just announced criminal investigations into their roles in the housing and financial collapse that started this recession.

[josh]

'Bout time! But let's still do our part, I'll not be using my Chase card anymore (guess I'll have to budget better, damn!).

[bedouina]

Thanks for input-good to know that legal action is being taken against some of these institutions, and good to have support in choosing to take our monies elsewhere. Since bankruptcy in 2008, I have deliberately not re-established credit...it's so easy to get caught up in that whole mindset and I find it a good, but not easy, exercise to live within my limited means. I look forward to working with others in doing more barter and exchange-usually the service or goods are what is needed, not the cash.

[kim]

I CLOSED ALL MY ACCOUNTS WITH Banksters of America today (checking, savings, business credit card, business line of credit)! I banked with those b*$tards for over 15 years, ever since I moved to Tucson back in 1996! I've kept my accounts open since just because of a credit card, despite moving back up here where the BofA logo doesn't reign supreme. But now....FREEDOM!!!! At last!

[hedgehog]

i did it today too, just before noon when the drive-up tellers close on saturday at USBANK. yeah! it feels SO GOOD, SO RIGHT! why didn't i do it years ago? oh well. habit. but i'm waking up. i'd opened an account at msla federal credit union on friday. soon, i'll have an ATM card and checks....life will go on, and life will be better just knowing i'm helping at a member-owned bank instead of.....well, we all know who. ~~becca