Occupy

[The Rev]

i don't think it would considerably hurt the banks seeing as how their retail portions are so small in comparison to their investment banking portions.
further, if it did start to hurt them, i would imagine that they would just get some temporary reserve requirement waiver, or something.

I think forcing them to do anything would be a small victory. Americans have danced to their tune long enough.

[Cramulus]

what's the difference between private banks and co-op banks and credit unions?

It has to do with how the bank is managed

Private Bank = really owned by the principle shareholders
Cooperative bank = cooperatively owned by everybody that uses it


Private bank: 1 dollar = 1 vote
Co-Op Bank: 1 person = 1 vote

also, does this work? with the whole 99/1% thing going on, would the funds from a 99er even make a dent? especially the ones living from paycheck to paycheck, wouldn't have a lot of funds in their account in the first place, would they?

The idea is that you don't want to support the commercial banks. Maybe it doesn't make a difference, but it would make a lot of people feel better about where their money is and what it's being used for.

Also, credit unions don't get a lot of press. I just found out they existed about a year ago. The big drawback to using them is accessibility - but apparently somebody worked some magic behind the curtain and now you can withdraw from any McDonald's. That's actually more accessible than Chase!

People are so angry at these giant banks - most of these people don't realize that there IS an alternative.

I guess it all depends on how much people you can realistically expect to do this. If it's 10,000 people and they all pull $200, that's 2 million dollars. And those are real dollars, the ones you can eat, not those fake multi billion dollars which are just electronic numbers and promises.

We must, step by step, become a market which demands fiscal responsibility.

[Triple Zero]

oh cool, thanks for the explanation, cram!

I need to check, I'm pretty sure that at least one of the popular banks here is a co-op. But not mine, the Internationale Nederlanden Groep, homely as their orange Dutch lion seems, the ING is a pretty big global powerhouse

i don't think it would considerably hurt the banks seeing as how their retail portions are so small in comparison to their investment banking portions.
further, if it did start to hurt them, i would imagine that they would just get some temporary reserve requirement waiver, or something.

yeah I figured something like that.

But as Cram said, the message is also somewhat important .. maybe?

[Elder Iptuous]

oh, i fully support doing it, and am considering it myself (even though, for various reasons it will be a major headache).

I've just heard people say that if we all take our money out of our checking accounts and put them into CUs, then the Big Bank will fall, and i don't believe that it would...

[Precious Moments Zalgo]

http://www.findacreditunion.com/

Another difference is that credit unions are technically not open to the general public, but to a defined field of membership.  They will typically have a list on their website showing companies, churches, trade associations, etc., and if you are an employee/member or immediate family of an employee/member, then you are eligible.

I know of at least one credit union serving a trade association with a cheap lifetime membership fee, which seems to exist for no other purpose than to allow people to join the credit union.  I think it's supposed to have a newsletter or something, but I can't remember the last time I received one.

Typical membership requirements include maintaining a $25 balance in a savings account (known as a "share account" in credit union lingo).

[The Rev]

http://www.findacreditunion.com/

Another difference is that credit unions are technically not open to the general public, but to a defined field of membership.  They will typically have a list on their website showing companies, churches, trade associations, etc., and if you are an employee/member or immediate family of an employee/member, then you are eligible.

I know of at least one credit union serving a trade association with a cheap lifetime membership fee, which seems to exist for no other purpose than to allow people to join the credit union.  I think it's supposed to have a newsletter or something, but I can't remember the last time I received one.

Typical membership requirements include maintaining a $25 balance in a savings account (known as a "share account" in credit union lingo).

Here, without membership in any organization, CU's are advertising invitations to join.

[Elder Iptuous]

it appears that you can be a member of a community CU if you live in the defined area.
there's several near me that have that as their only requirement.

[Mesozoic Mister Nigel]

Recently laws about Credit Union membership changed so that anyone local can join. I am not sure whether that was an Oregon law or a Federal law, though.

What I would really like to see are consumer choice laws that give the consumer more control over who can buy the servicing rights to their mortgage, and under what conditions those rights can be sold.

[The Rev]

Recently laws about Credit Union membership changed so that anyone local can join. I am not sure whether that was an Oregon law or a Federal law, though.

What I would really like to see are consumer choice laws that give the consumer more control over who can buy the servicing rights to their mortgage, and under what conditions those rights can be sold.

GLWT

[Cramulus]

If you're not friends with any tea party spags on facebook, here the sort of stuff you're missing:

[Doktor Howl]

If you're not friends with any tea party spags on facebook, here the sort of stuff you're missing:

Saw that on Capitol Grilling.

It's like saying that if you oppose abusive policies by oil companies, you should not drive or heat your home.

[Dysfunctional Cunt]

If you're not friends with any tea party spags on facebook, here the sort of stuff you're missing:

Saw that on Capitol Grilling.

It's like saying that if you oppose abusive policies by oil companies, you should not drive or heat your home.

Oh yes, another cutting off ones nose thing?  I can't understand the thinking behind that.

[Eater of Clowns]

All protests must be done naked with body paint signs made from gathered berries.

[Cain]

I did not know banks made smartphones, cameras, posters and makeup.

[kingyak]

I did not know banks made smartphones, cameras, posters and makeup.

The framing I've heard is that without Wall Street/Banks, the companies that make them couldn't get funding. Because, you know, private citizens never invest in potentially profitable ideas.

And just for the record, I only protest while wearing garments of woven flax and hand-carved wooden shoes. I'm not going to tell you how I make my signs because it involves killing an adorable woodland creature.