Move Your Money

[daddytodd]

So, Arianna Huffington on The Huffington Post is plugging the idea of moving your accounts out of the big national banks and into smaller, local outfits.

I think this is a great idea, but if you follow it, be prepared to move your money again in a few years when the economy takes another dip, and your local bank is acquired by CitiBank of AmeriChase Fargo, and you find yourself again a customer of EvilBank.

Comments

[daddytodd.livejournal.com]

On the other hand, don't think Credit Unions are immune from change either. There was a case here in Utah where a large credit union decided to transform itself into a bank, primarily so the officers could give themselves HUGE bonuses for "successfully" turning the profitable CU into an unprofitable bank. I think there are still lawsuits holding up the change-over.

If you belong to a CU, pay attention to the board of directors and fight them on this kind of shenanigans.