In 2008, many banks in the US and around the world were on the edge of collapse when federal governments stepped in to save them. These banks were participating in unregulated lending, irresponsible loans, and unchecked practices. They were given massive bailouts without any insurance that they would change their practices and low and behold, they haven’t. Now Bank of America, along with other major banks, are starting to charge more fees to their users because of their mismanaged practices and new regulations. If you are sick of big banks rolling over on the customer for their lack of responsible practice, it might be time to change gears. Joining a credit union is the best way to show that you disagree with the banks. Stop supporting them by investing your money elsewhere.
In a credit union, you become a member and take a share in the union. None of the money is invested outside of the union and you can actually go to meetings and vote on what will happen in your union. They also usually have lower interest rates and you are actually seen as a part of the organization instead of just a customer to suck dry. Vote with your money and let banks know that they don’t run America. You can find a credit union close to you here.
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