[Noisebridge-discuss] How to close your bank account (and move to a Credit Union)

[Jake]

note: i sent this email by putting the addresses in the Bcc field, so that 
spammers won't capture everyone's email address.  Always do it this way.
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It's not so simple to move your money to a credit union.

People need to be informed about a few things before attempting this;
this information should be put on the flyer or sticker you're handing out.

1. Many credit unions (if not all) require you to be a "member" of one of 
their sponsoring institutions.  This is forced on them by law, by banks 
who oppose their competition.  I was able to join my Credit Union by 
making a one-time $20 donation to the local food bank.  No problem.
Now anyone who lives at my same address can qualify because of that.

2. Your Bank will _not_ cash you out, unless you only have a small amount 
of money with them, like less than 1 or 2 thousand at the most.  They will 
certainly not cash you out if it's november 5th and lots of others are 
doing the same thing.  Instead, open your Credit Union account NOW, with a 
check for all but your banks' minimum deposit (like $50) so the check 
won't bounce, and withdraw your last $50 and close your account in person 
on November 5th. (be careful not to bounce other checks written from your 
bank account around this time)

3. Now is the time to pay off your credit cards as much as you can, and 
then cut them up.  These are where the banks really make their money.  If 
you have a mortgage with a bank, ask your new Credit Union if they can 
refinance you.  The money you pay in interest to your Credit Union gets 
used to finance other homebuyers, pay the employees, and some of it is 
given back to you, the member / shareholder.  The way it should be.
Also, your credit union can make you a new credit card with them.

If you really want to help, put a list of local credit unions (for east 
AND west bay) and their locations, hours, and if possible, membership 
requirements.. although there's usually a way, like donating $20 to the 
local food bank...


On Thu, 27 Oct 2011, David Halenda wrote:

> Hey folks. Some of us from welcoming cmte are putting together an action
> involving stickers w info regarding withdrawals from corporate bank day.
> These stickers can be put on some very interesting places. We're gonna
> schedule a meet before nov 5th. All interested, please respond here.
> Much thanks, Forest, Welcome cmte
> 
>