LIBERATE YOUR MONEY by May Day! (Ongoing Bank Divestment Action)

Categories: Announcements

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Attention everyone who cares about solidarity, re-investing in local communities and sending a message to big banking institutions that we are fed up with their unethical, greedy mismanagement of our money – your money is being held hostage by big banks and IT IS TIME TO LIBERATE IT!!

**Wait, so why move my money?**

* Because your bank makes billions in profits but pays almost no taxes.
* Because your bank gets rich by charging you huge, unnecessary fees.
* Because your bank bribes your politicians.
* Because your bank crashed the economy and made off like a thief while you lost your job, your home and your retirement fund.
* Because your bank builds and profits off prisons and immigrant detention centers, poisons the environment and engages in racist lending practices.

Whatever you feel about profit, banks ultimately are there not to serve their customers but to provide a profit for their shareholders.

But you don’t have to stand for it. Find a local credit union and LIBERATE YOUR BANK ACCOUNT. Divest from the corporations like Wells Fargo, Bank of America, Chase and Wachovia that are lining their pockets with our country’s wealth.

Leading up to Bank Transfer Day (11/5/2011), 700,000 Americans shifted more than $4,580,000,000 from corporate-level for-profit banks to not-for-profit credit unions that strive to promote economic growth in our communities. We sent a clear message that conscious consumers will support businesses that focus on people instead of profit. But we aren’t done. And we won’t be done until we force radically change in the way these corporations work.

**How do I do it?**
- Research your local credit union options. (For help, visit moveyourmoneyproject.org or creditunion.coop)
- Open an account with a credit union.
- Transfer your funds to the account (online or in person) by May 1st.
- Cancel all automatic withdrawals & deposits.
- Follow your bank’s procedures to close your account.
- Tell your friends and family to do the same.

Credit unions are cooperative financial institutions – they are NOT-FOR-PROFIT and an excellent alternative to the corporate banks run by the greedy 1%. They have lower interest rates, lower fees, higher rates of return, and more sustainable lending practices.

**Why by May Day?**

May 1st (May Day) is a day that commemorates the historic struggle of working people throughout the world. It’s a day for rallies, strikes, and consumer boycotts to support the rights of those working and living in the US.

It began on May 1, 1886, when unions across the US went on strike to demand that the standard workday be shortened to 8 hours (down from 10-16 hours). May Day is a day for remembering that people were shot so we could have the 8-hour day; for acknowledging that homes with families in them were burned to the ground so we could have Saturday as part of the weekend; for recalling 8-year old victims of industrial accidents who marched in the streets protesting working conditions and child labor only to be beat down by the police and company thugs.

We understand that our current condition cannot be taken for granted – people fought for the rights and dignities we enjoy today, and there is still a lot more to fight for. The sacrifices of so many people can not be forgotten or we’ll end up fighting for those same gains all over again.

This is why we take a stand on May Day!!

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