Early last week, I finished my part in joining a movement that has taken on a life of it’s own in this country. Arianna Huffington’s “Move Your Money” campaign was designed to make it clear to “too big to fail” financial institutions that they’re still businesses dependent on the good will of their customers. The idea was to convince Americans to move their money to much smaller community banks and credit unions. Doing so means that their money would be more likely to stay in their communities, and it will hopefully send the message that “too big to fail” doesn’t mean “too big to be immune to customer anger and dissatisfaction.”
Yes, it was a bit of a hassle moving my money, but I did decide to go with a credit union in Portland. In doing so, I gave up a little bit of convenience, but I think there’s something to be said for making a statement. Of course, me moving my meager financial empire will attract no one’s attention. Convince thousands of Americans to do the same thing, though, and maybe, just maybe, our voices will be heard. It’s worth a try, no?
Speaking only for myself (but I have a feeling I’m not alone), I’m tired of banks that see themselves as bigger than their customers. Like a lot of Americans, I’m tired of banks taking bailout money and yet still seeing their way clear to paying obscene bonuses to senior management. I’m sick of banks taking deposits from Americans and then refusing to loan that money to people who need it. Until and unless we make a statement in large numbers, nothing will change. Of course, there’s still a very good chance that nothing will change, but taking action certainly feels better than doing nothing. In the final analysis, nothing may change, but I think there’s some value in taking positive action and sending a message. Commitment and action may not effect immediate change, but I have to have faith that somewhere down the road, things will be different because thousands, perhaps millions, of us decided that we’re mad as Hell and we’re not going to take it anymore. Stay tuned….
