Take Control With Your Money
| 23 January 2010
The individual act of removing your money from The Big Six banks (JP Morgan/Chase, Citi, Wells Fargo, Bank of America, Morgan Stanley, and Goldman Sachs) may be the most effective and empowering steps you can take in response to the bailouts. Send them a message and feel GOOD about it. Put your money in smaller, safer banks or credit unions closer to home.
Thanks to Arianna Huffington of the Huffington Post and Rob Johnson of the Roosevelt Institute, an influential bank-rating firm, Institutional Risk Analytics, donated a website window where citizens can find banks in their ZIP code that IRA certifies as safe and sound. Visit www.moveyourmoney.info.
Credit unions are also a good bet. Receive interest on your account balance each month instead of a bank fee. The Credit Union National Association (CUNA) is the premier national trade association serving credit unions. Ninety percent of America’s credit unions are affiliated with CUNA. If you are a credit union member, visit http://www.cuna.org/ to access your credit union directly.
For info on general bank rating vist: http://www.bankrate.com.
The Big Six brought the system to ruin and were subsequently rescued with billions in government bailouts.