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Guess How Much Money Angry Customers Moved Out Of Banks.....

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« on: November 07, 2011, 08:42:30 am »

Guess How Much Money Angry Customers Moved Out Of Banks In Support Of Bank Transfer Day

Nov. 7, 2011

People may have misunderstood exactly how Bank Transfer Day was supposed to work, but it was still a success.

According to ABC News, In October alone Credit Unions around the country gained 650,000 new customers and $4.5 billion were moved out of major banks.

That is obviously a sliver of total bank deposits, but banks have been sent a clear measure.

You can check out the report here, and you'll see what is  the most important point.... The report briefly profiles David Meinert, a Seattle small business owner who, after being denied another line of credit, moved $3 million out of Chase and Bank of America and into a local credit union.

In his own words, he did it because, "That kind of money and my level of business doesn't really matter to them (the banks)."

That's probably not what banks want small business owners around the country to be thinking. Credit Unions, on the other hand, are jumping on the opportunity to grab more customers.

Continued here:
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The most successful tyranny is not the one that uses force to assure uniformity, but the one that removes awareness of other possibilities, that makes it seem inconceivable that other ways are viable, that removes the sense that there is an outside. --Allan Bloom

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