A handful of people marched to Chase bank on Madison’s Capitol Square this afternoon. The small but spirited bunch—many of whom are involved with Occupy Madison—stood in the day’s bright sunshine on the sidewalk across from the bank. Inside the bank’s lobby, a security guard watched with arms crossed.
“I feel strongly that society has been taken over by the monied elite,” says longtime activist Jeff Gransby who was at the protest. “They’ve destroyed the middle class, leaving the lower class and homeless to fend for themselves.”
Today’s actions are a run up to tomorrow’s Bank Transfer Day. People are being asked to move their money out of Wall Street banks and into community banks and credit unions.
But it’s not just individuals who are moving their money. The New Bottom Line reports that this week “L.A. Voice, a coalition of clergy leaders representing 30,000 people from churches, synagogues, and mosques in California pledged to move $2 million and end a collective 200 years of business with Bank of America and Wells Fargo.”
The Move Your Money campaign started in 2010 but has been revived thanks to the Occupy Wall Street protests.
Will the banks get the message? They’ve backpedaled on recent debit card fees.
And as FireDogLake reports, since September 29, when Chase announced its now-defunct debit card fee, 650,000 people moved their money to credit union. “That’s more in a little over a month than in all of 2010 combined. And that’s just credit unions, it doesn’t count community banks.”
Investing in one’s own community is always a good idea, especially now.
If you liked this story by Elizabeth DiNovella, the Culture Editor of The Progressive magazine, check out her story "Occupied Oakland Destroyed but a New Camp Will Arise."
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