Move Your Money Campaign Directors Detail The Grassroots Movement (AUDIO)

Dennis Santiago, one of the directors of the Move Your Money campaign, sat down for interview with Damien Hoffman to offer some details on how the movement continues to gain traction with the public.

Dennis: We've started doing a series of tests to see how much of the country has looked at the Move Your Money tools. At this point we see 28,000 out of 42,000 zip codes being searched in a little under sixty days.

Damien: Wow. That's great for a grassroots campaign.

Dennis: It's nominally approaching seventy five percent of the zip codes, but I discount that back somewhat because sometimes people do a wild card search or a little bit of duplication. What's interesting is we looked at how many zip codes contained banks or big branches, and there are only 21,000 of those. So, it's possible people using the Move Your Money tools have pretty much canvassed the entire universe of banking in the United States.

You can read the full interview here.

Another director of the movement, Rob Johnson, spoke with radio host John Williams about the campaign. Listen to the podcast of his interview below.

Comments

[gray375]

02:07 PM on 03/14/2010

Thank you Wachovia for helping me decide to change banks. After informing me you will charge me $25.00 year for the opportunity to have overdraft protection, which you willingly heaped upon me and I did not want, I am going to my local Credit Union tomorrow, opening up and account, and transferring my business to them.

[TimtheEnchanted]

10:20 PM on 03/04/2010

Couldn't get out of CHASE fast enough. Even after we moved our money they refuse to close our CHASE Freedom account. After several calls and personal visits to the local branch they won't let go! Get your money out of CHASE bank!

www.chasesucks.com

[eddw88]

10:18 PM on 03/04/2010

Here is a simple point of reality: Credit unions cannot hide anything from you. They must reveal everything within every transaction they make with you. It is the law. A few years back the banks took the credit unions to court to try to shut them down. The results were more restrictions on credit unions and they are NOT allowed to hide anything.

Thus the banks indirectly helped the genral public. Now, when you deal with credit unions you keep everything on the table.

Also, credit unions are the best place to build your credit. If you have no credit history or bad credit, then learn if your local credit union offers secure credit cards. If they do, then apply for one. Set your limit LOW. Carry very little cash. Use your card freely. Pay the bill in full at the end of each month. You can rasie bad credit scores by 100 points within a hear. Or boost a no credit history to 680~720 within the same time.

[drewdawgsea]

10:17 PM on 03/04/2010

Just finished moving my money tonight to BECU. I won't miss Chase one bit. Say goodbye to the extra fees. So happy right now. And the teller wanted to know WHY!!! So I said told her "Chase is too big to fail so you obviously won't miss my money".

[hoodie]

08:48 PM on 03/04/2010

Been there, did that! Can I even tell you how awful Wells Fargo was. Even down to the nasty late phone call to say "I am a local guy!" Run baby, run!

[ProFormaArtista]

08:47 PM on 03/04/2010

My credit union did not show up and it's been in business for approx. 22 years.

[jeb50]

08:12 PM on 03/04/2010

We did this well over a year ago. Took some time time for HP to catch up with us.

[GenosseJoe]

10:14 PM on 03/04/2010

Good for you. Make sure you bank will not be closed by FDIC.

[ziger123]

08:10 PM on 03/04/2010

MYM is a wonderful idea. I know closing big bank accounts and reinvesting in our local banks or credit unions is a great beginning for some people who never realized before that their actions mattered. Sadly, most people go on fooling themselves that what they do doesn't matter so why should anyone make the effort. It's that lack of effort that has gotten us here and IF you want change YOU have to BE the change!

[Ian Schenck]

08:09 PM on 03/04/2010

I was previously a WaMu customer. Recently my small business has dealt with some really awesome customer service from Chase, including one time when I tried to get a new bank card since mine was scratched and was repeatedly told "Just wait a few weeks, you're going to get a new Chase one anyways". Oh and the other time when we were docked 2 overdraft fees for absolutely no reason whatsoever (after escalating higher and higher, we were denied. Later they called us back and apologized for a computer error and refunded them.)

Well, we (my business partner and I) just found a credit union near our place, and we checked it out. Within 10 seconds of walking in, I knew it was the right place. The carpet was a bit run down; the air conditioner was a window unit mounted above the door. The people working there were the most knowledgeable and helpful employees I have *ever* encountered at a bank. Foreign ATM fees are refunded, their staff is helpful, and they're more competitive than Chase will ever be.

Check out your local credit unions.

[Betsie]

08:00 PM on 03/04/2010

We should do the same thing and "Move Our Jobs" back to the USA.

If we refuse to buy.. "Made in Some Other Country" as much as possible and even do without or spend a little more then we could send a powerful message.

I know we live in a global world and it's a complicated issue but I think a company's profit should be counted and rated in more than just dollars and cents. What are these companies doing for their employees, their community and their country? Are they being loyal to all three? I think when an American company enjoys the benefits of America and then ships out jobs to a foreign company it weakens America.

A job doesn't just support the person/employee. It has a ripple effect.

That one job will support and strengthen:
The employee,
The employee's family,
The employee's community,
The employee's state,
The employee's country and government.

If those in the position of deciding where the jobs will be want to be greedy then let them be greedy for the right values.... making and keeping America strong.

[eddw88]

10:26 PM on 03/04/2010

You are a true patriot!

[kurtvb]

10:55 PM on 03/04/2010

My wife and I try to do that as much as possible. But it is hard. So many things say Made in China. But we try to do that with our food as well. We do not buy anything HFCS in it. We try to buy local and fresh. Milk is hormone and anti-biotic free. If we could buy more things made in the US we would.

[fuelie]

07:05 PM on 03/04/2010

Before moving your money, be sure to check out these sites. The first one cost money, but the 2nd one is free.

http://us1.irabankratings.com/Cart/login.asp?affiliate=IRA_Internal_Sale

This free site, which seems to be up to date and accurate is:

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx

And finally the FDIC list of currently failed banks:

http://www.fdic.gov/bank/individual/failed/banklist.html

[sheoples]

06:42 PM on 03/04/2010

it'll take another couple of years before americans do this on mass.......and even then.......the banks will lobby so they get new rules on the books so people can't so easily move money to small local banks....and we'll be back in square one.

[ecinaj]

06:29 PM on 03/04/2010

Moved my money from US Bank to a local community bank. The new community bank is much more personal and friendly. I can actually call and talk to a person. Think of it!

[lisakaz2]

06:29 PM on 03/04/2010

I did it. My investments (401K) are next.

[kelhanwil]

05:54 PM on 03/04/2010

What some people do not understand is that this movement makes a difference to us community bankers. We didn't create the banking mess, but we get lumped in with the big banks that did.

Thank you to all of you that are moving your money! It makes a difference!