According to the Credit Union National Association (CUNA), federal credit unions added 650,000 members in the month preceding the November 5 Bank Transfer Day instigated by the Occupy protests, and the trend did not skip Santa Barbara. The branch manager of KeyPoint Credit Union said in the two weeks leading up to November 5, new customers opened accounts at a 200-percent higher rate than normal. Russ Llewellyn of Kinecta Federal Credit Union said that a lot of customers have walked in to inquire about their services, but a lesser amount have taken the trouble to actually move their money. Steve La Grange, manager of The Golden 1 Credit Union branch on Calle Real also reported increased account openings, but could not produce the actual numbers before press time.
CUNA’s count begins on September 29 when Bank of America announced that it would charge a five dollar monthly fee for debit card users, another strong impetus for patrons to transfer their money. (Bank of America has since rescinded this fee.) Jeff DeVine, president and CEO of American Riviera Bank, not a credit union but a local community bank, says that he has opened approximately 20 more accounts than normal each of the past two months. He thinks the increased business has more to do with “a general dissatisfaction with larger banks” than Occupy Wall Street. He said there are three distinct advantages to banking locally. Money stays in the community (through loans and donations), bank employees know their customers by name, and community banks do not “nickel and dime” their clients with fees to boost revenues.
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It's funny how they're giving credit to the creeps at "Occupy Whatever". People didn't change to credit unions because a bunch of androgynous hippy wannabes are illegally camping in public spaces. Do they really think that people didn't know they had choices before these smelly morons started causing trouble? That's ridiculous on its face.
waz (anonymous profile)
November 23, 2011 at 7:49 a.m. (Suggest removal)
This move of $$$ has nothing to do w/ occupy whatever. I made a conscious decision to take my $$$ out of BofA back in 2003 because they were ripping me off.
I congratulate those people that have chosen to use the biggest weapons capitalism & democracy have to offer: Money & the right to do w/ it as you please. Try to do that in a socialist state.
Wanna hurt a business/institution you don't like? Don't do business w/ them, simple as that.
Like waz said: "Do they really think that people didn't know they had choices?" :) henry
hank (anonymous profile)
November 23, 2011 at 10:20 a.m. (Suggest removal)
I'm impressed with the Occupy Wall Street peoples and glad to have learned more about the credit unions. Now we are going to make the transfer from big bank to credit union.
Dotio (anonymous profile)
November 23, 2011 at 9:49 p.m. (Suggest removal)
It was great participating in the Nov 5 Occupy SB/Moveon march up State St to the BofA branch at Canon Perdido and to encourage folks to transfer their funds to other credit unions and local banks! Hank is right, this is voting with your pocketbook where it hurts them. BofA had gotten another group to stand out in front ahead of Occupy to support BofA and the the repeal of the Glass-Steagall law (in 1999), part of which led to this entire 2008 Recession mess. It was interesting to debate with these people, and everyone was civil. Thank you Brandon for a good follow-up story: clearly the various Occupy groups in our great country are having an impact by FRAMING the debate.
DrDan (anonymous profile)
November 25, 2011 at 10:54 a.m. (Suggest removal)
"Clearly the various Occupy groups in our great country are having an impact by FRAMING the debate."
- DrDan
The only impact they're having is screwing up public spaces and tying up public services. Other than that, they're just wasting everyone else's time. And, I guess there is actually one person who had their head in the sand so long that they never heard of a credit union. Congratulations, Dotio!
waz (anonymous profile)
November 28, 2011 at 9:03 a.m. (Suggest removal)
Occupy is having an impact. If you don't support the Occupy Movement you are on the wrong side of history.
Ken_Volok (anonymous profile)
November 28, 2011 at 11:36 a.m. (Suggest removal)
KenV: "If you don't support the Occupy Movement you are on the wrong side of history."
Same thing Che Guevarra said about the so-called "Cuban Revolution" as he & Castro Bros went on to rape my beautiful birth country of Cuba. Well parroted Ken, your professors taught you well.
By the way Ken, the ONLY impact occupest is having is:
1) More garbage to pick upn (anti-environmentalism).
2) Feces & urine all over public places (anti-hygiene).
3) Disruption of businesses run by mom & pop operations, the same folks occupest claims to be about (anti-free enterprise).
4) Wasting of city's financial resources that could better be used by emergency response personnel to help (anti-public safety).
5) Shouting opposing points of view or opinions down (anti-freedom of speech).
Did I leave anything out? Nope, don't think so. Come to think of it, occupest is startiing to sound more & more like IV during Halloween or crap(float)topia. Awesome!
DrDan, BofA screwed me over personally SO many times a change was in order & I chose to remove my hard earned $$$ from their vault.
They're notorious for "stacking" which is a practice where they'll count ANY negative activity against your account, but negate any positive activity for a period of time so the balance gets below a certain level, you overdraw & the service fees & charges start to "stack" up.
Those malakas were costing me anywhere from $100-$300/month in fees @ times! Crafty rascals! Switched banks, no more problems, simple solution :) henry
hank (anonymous profile)
November 28, 2011 at 4:40 p.m. (Suggest removal)
hank: Don't forget the sexual assaults, rampant drug use, throwing bottles, and starting fires.
waz (anonymous profile)
November 29, 2011 at 8:13 a.m. (Suggest removal)
Waz: "hank: Don't forget the sexual assaults, rampant drug use, throwing bottles, and starting fires."
Wasn't even gonna go there out of kindness, but now that you mention it... :) henry
hank (anonymous profile)
November 29, 2011 at 10:58 a.m. (Suggest removal)
My professors taught me to think for myself and not make lists of manufactured evidence; nor to forget that the preceding oligarchs and colonialists of Cuba also "raped" that country.
I'm just gonna start suggesting removal instead of waste my time and energy.
Ken_Volok (anonymous profile)
November 29, 2011 at 8:42 p.m. (Suggest removal)
"My professors taught me to think for myself and not make lists of manufactured evidence"
- Ken_Volok
Thinking for yourself (something I doubt your professors taught you) isn't one of your strong suits. Maybe, it would have been better if they taught you that the truth hurts. It's sure as Hell hurting you when you want to remove posts that upset your delicate sensibilities. Just like a typical lefty; running around screaming about their 1st Amendment rights, but as soon as they hear something they don't like, they want to silence the people saying it. Yet one of many lefty double standards. Also, you might want to tell us what is untrue about what hank and I said about the Occupoo thing. Just saying it's "manufactured evidence" doesn't make it so. Another lefty tactic.
waz (anonymous profile)
November 30, 2011 at 9:28 a.m. (Suggest removal)
Flash! Occupoo LA has been shut down! Yesssss!!! Unfortunately, as most of us clean people anticipated, the Occupooers left the place a filthy, disgusting, foul, unsanitary mess. What a surprise!
waz (anonymous profile)
November 30, 2011 at 1:53 p.m. (Suggest removal)
I really feel sorry for some of the commentators here, bitter, shallow, afraid, most likely alone stewing in their hate.
Kick Occupy out and we'll just spring up elsewhere. On the moral and ethical front alone we've already won. History has shown that tyrants always fall, whether they be an individual or one oligarchial group.
Ken_Volok (anonymous profile)
November 30, 2011 at 2:46 p.m. (Suggest removal)
"Kick Occupy out and we'll just spring up elsewhere."
- Ken_Volok
Yeah. Just like the useless weeds you are. You've accomplished nothing but to show what a worthless, dirty, deviant mob you are. Good job!
"On the moral and ethical front alone we've already won."
- Ken_Volok
Yet another lefty tactic; accomplish nothing, and claim victory. The only problem is, you're the only one's that believe it. Tell me. What color is the sky in your world?
waz (anonymous profile)
November 30, 2011 at 4:16 p.m. (Suggest removal)