The time has come for us as Americans to start putting our hard earn money in community Banks. We are now in crisis mode around the world. We must change the way we do our banking if we expect to help meet the needs of our community in which we live. I have come accross some important information that can help steer us in the right direction so that we are better prepared as our economy continues to takes a hit from all the years of corruption. We must take this matter very serious or we will pay the consequence for the lack of due diligence, and concerns being share here today.
Align your money with your values.
Centralized banks are the main funders of environmentally harmful industries such as nuclear, coal, and clear cutting logging companies. They are also responsible for the most recent economic collapse that caused people around the world to lose their homes, their jobs, and their retirements. They use customer’s deposits to make these destructive loans. Are these the projects you want to keep supporting with your deposits? If not, then pull your money out of centralized banks and find a community bank or credit union that invests in good local community projects.
If you bank at one of the following banks - aka the "Tapeworm 20" - we recommend pulling your money out immediately and finding a better alternative.
1. Bank of America, US
2. JP Morgan Chase & Co., US
3. HSBC Holdings, UK
4. Citigroup, US
5. Mitsubishi UFJ Financial Group, Japan
6. Industrial and Commercial Bank
7. Wells Fargo & Co., US
8. China Construction Bank Corporation, China
9. Bank of China, China
10. Royal Bank of Scotland, UK
11. BNP Paribas, France
12. Barclays, UK
13. Banco Santander, Spain
14. Agricultural Bank of China, China
15. Credit Agricole, France
16. Sumitomo Mitsui Financial Group, Japan
17. Mizuho Financial Group, Japan
18. Lloyds Banking Group, UK
19. Goldman Sachs, US
20. UniCredit, Italy
A 3 Step-Guide to Move Your Money to a Local Bank:
1) Gather a list of local banks and credit unions.
You can usually come up with a list by calling your Chamber of Commerce, contacting a local credit union and asking about other local banks, or by using the yellow pages. Facebook and other friend-based social networks can help you learn which banks are best. Many local Banks and Credit Unions will also help you distinguish the real local establishments from those simply trying to sound community-based.
Don’t be fooled by the name…Union Bank of California is owned by Mitsubishi in Japan and funds some of the most destructive logging ventures on the planet.
if you live in the U.S., you can also enter your zipcode here to find local banks in your area. Another useful resource is moveourmoneyusa.org.
2) Evaluate the banks by calling around and visiting their websites.
The first and most important questions you want to ask are:
- What percentage of your money is loaned locally? (The more, the better)
- Are you owned by a bigger bank or do you intend to be bought-out? (If so, find a different bank)
- Are you FDIC insured? (Never put more than $250,000 in one bank)
3) Consider your own needs and what the bank offers to make your final selection. Is the bank doing what you care about and offering services that are important to you?
Some things you may want to consider:
- Does the bank have a good reputation in the community?
- Is the bank committed to supporting local businesses, environmental stewardship, social and economic equality, and other values of particular importance to you?
- Are employees at the bank paid well, local, diverse, and seemingly cared for in their jobs?
- Do they have sound business practices and financial statements? Analyze their annual reports.
- How close would you like the bank’s location to be to your home or place of work?
- What are the hours of operation? Does this work with your schedule?
- Does the bank have good customer service?
- What are their ATM fees? Are there multiple ATM’s in town?
- Can you access the bank or credit union through international ATM machines to make travel easy?
- What type of online banking services do they have?
- Is paperless billing an option?
- Do they have any mileage credit cards if that’s important to you?
- Can you apply to see what credit limit you qualify for before opening an account? If it’s lower than you current limit, ask if a transfer of credit is possible.
- What are their lending and investment services like?
- What are their Certificate of Deposit interest rates?
- What are their wire transfer fees?
