Today is Bank Moving Day -

650,000 Americans Joined Credit Unions Last Month – More Than In All Of 2010 Combined

When Bank of America - the nation’s largest bank- announced this week that they’re abandoning plans to charge customers $5 per month to use their own debit card, what the bank was really saying is this: You Win. 

And while it’s important to know that we can make big banks change their behavior through organizing, we still have a long way to go to make them clean up the mess they caused when they crashed the economy. 

That’s why earlier this week, The New Bottom Line, in partnership with The Other 98%, launched MoveOurMoney, an online campaign to help individuals move their money from the big banks.  The goal: move $1 billion of our money out of big banks like Bank of America, JP Morgan Chase, and Wells Fargo to send a message that they need to fix the foreclosure crisis and pay their fair share.

If you’re planning to take action this weekend for bank transfer day, there’s plenty you support you can get from Move Our Money. Here’s how you can get involved. 

If you’re planning to move your money this weekend, post your action online here and invite friends and family to join you at the bank.

If you’ve already moved your money - on your own or in a group- report your action here and send a letter with our demands to the big bank CEOs.

Just a few days into launching MoveOurMoney, we’ve already moved $5.5 million out of Bank of America, JP Morgan Chase, and Wells Fargo. What a terrific start!  This weekend’s bank transfer day is just the first step on the road to moving $1 billion.  

Why are we moving our money? Listen to what Joshua Welter, a small business owner in Seattle had to say about moving his money:

“I want to know that my money is being used to help local small businesses, and Chase and Bank of America are hoarding their profits instead of reinvesting into the local economy … The large banks are faceless, heartless corporations whose CEOs care more about their million dollar bonuses and quarterly profits for their stockholders than my business, my employees, and my community.”

  

After this weekend, the big banks might think we’re just going to go away.  We’re not going to do that. Help keep the pressure on and organize a Move Our Money event over the the next few weeks and contribute to a $1 billion divestment from big banks!

Thanks so much for your action.

Ian, Tracy, Ilana, and The New Bottom Line team

P.S. Follow MoveOurMoney on Facebook and Twitter for all the latest updates on the road to $1 billion!

P.P.S. Like this work? Donate to MoveOurMoney and help keep the campaign going strong!