I was excited to receive an email from the Social Venture Network talking about the Move Your Money Project and Bank Transfer Day, November 5th, 2011.
Here is an excerpt from their website:
Moving your money out of the big Wall Street banks to small community banks and credit unions is a great idea for a number of reasons:
- you will get better rates and fewer fees
- your comunity banker will learn your name and provide you with more personal service
- you will be keeping money in your local community which increases economic development and eventually, creates more jobs.
INVEST IN MAIN STREET, NOT WALL STREET
When you keep your money in a local financial institution, that money in turn is reinvested in local businesses, which is important for building a stable economy and encouraging local growth. Put your money in the big Wall Street banks however, and they will use your deposits to make risky investments, gambling at the expense of the economy as a whole.
An important call-to-action that came up during that meeting is the "Move Your Money Project," also known as Bank Transfer Day, November 5th, 2011. If you haven't already, we encourage you to move your money this week and put your assets in financial institutions that have a social mission that’s aligned with your values.
Here's a partial list of financial organizations to consider:
• Calvert Group
• Domini Social Investments
• Ocean Endowment Partners
• New Resource Bank
• RSF Social Finance
• Sunrise Community Banks
• Trillium Asset Management
Late addition: just found this on Facebook (so you know it's true!)