MoveOn Joins Move Your Money Project For Nov. 5 Day Of Action

With the Occupy movement continuing to gather momentum, political organizers at the progressive nonprofit MoveOn are joining a campaign from other progressive groups for a Move Your Money "day of action" on Saturday, Nov. 5.

Although MoveOn refers to Nov. 5 as a "day of action," a California activist has already dubbed it "bank transfer day." Both MoveOn and organizers of the event are loosely affiliated with the Move Your Money initiative, an effort launched by Arianna Huffington and others in late 2009 seeking to persuade consumers to move their bank accounts from big Wall Street banks to local community banks and credit unions. By encouraging citizens to divert their deposits from Wall Street to community finance organizations, Move Your Money advocates hope to limit the economic clout of big banks that sparked today's economic crisis, while empowering small business lending by institutions that did not partake in the subprime bonanza.

The Nov. 5 event follows a renewed push for the Move Your Money project from New Bottom Line, a national coalition of anti-foreclosure activists, small businesses and community groups, which staged several protests against Wall Street banks in the months leading up to Occupy Wall Street's ascension into the media spotlight.

WATCH MoveOn's Move Your Money video:

 

 

Comments

[Yikes11]

01:21 PM on 11/04/2011

From Moveon.org

[Yikes11]

01:18 PM on 11/04/2011

By signing the pledge you'll be able to turn your private choice as a bank customer into a powerful public display of outrage and protest by joining tens of thousands of others who are ready to switch banks and close accounts.

We have resources available to help you find a new bank and a guide for how to go through the process of closing an account. Whether it's a spare credit card, a savings account, or your personal checking, every account counts.

If we can get a huge number of accounts closed at the major banks we'll certainly impact their bottom line, but we'll also do something even more powerful—we'll send them a very clear message that the public's outrage is only growing stronger and that we're not going to let them off the hook for the damage they've done to our economy.

Can you sign the pledge and close an account?

Yes, I'll sign the pledge.
Thanks for all you do

[Yikes11]

01:16 PM on 11/04/2011

The big Wall Street banks crashed our economy, refused to clean up the mess, and still haven't been held accountable.

Now the Occupy movement has inspired people everywhere to take action in protest and a lot of us have realized there's something we can do to fight back: close our accounts and move our money out of the big Wall Street banks and into community banks and credit unions.

This week, in the lead-up to the November 5 Make Wall Street Pay day of action targeting the giant banks, we've set up a new "Move Your Money Pledge." Our goal is to get as many people as possible pledging to close their accounts with the big banks.

Are you ready to show the Wall Street banks that we're going to hold them accountable ourselves? If you're ready to stop banking with Wall Street—or if you already have—click here to sign the Move Your Money pledge:

Yes, I want to sign the Move Your Money

[VFausone]

11:11 AM on 11/04/2011

Today we're movin out of a Wells Fargo! WOOT!

[Cat9]

12:34 AM on 11/04/2011

What genius picked this date? - most banks close by noon on Saturdays and some credit unions may not be open

[urownexperience]

10:51 AM on 11/04/2011

It's day off genius, for customers.

[aforbes808]

10:34 PM on 11/03/2011

The Greatest Speech ever made from the Charlie Chaplin movie the Great Dictator. Let's go higher.

http://www.youtube.com/watch?v=WibmcsEGLKo

[galivantstom]

08:27 PM on 11/03/2011

The Move Your Money Day is an outstanding idea and I will urge my friens who have not already done so to do it on November 5. Go get 'em!

[sadwitness]

08:29 PM on 11/03/2011

I too- sharing on all my pages- MOVING ON TO A WORTHY CREDIT UNION

[leajazz]

03:34 AM on 11/04/2011

FAVE!

[tredwell]

02:52 PM on 11/03/2011

Naturally move on .org would try to disrupt our nations financial health by attacking banking institutions! They probably started the 2008 collaspe with the guidance of their fearless "I never saw a nation I wouldnt like topo destroy" SOROS! Keep it up we'll be Greece in no time they Barry's kids will be overjoyed!!!

[sadwitness]

07:15 PM on 11/03/2011

I was attacked by a banking institution and fought back by moving my money to a business that is less at odds with my beliefs...as Americans we have that right-for a while longer, anyway. Furthermore, transferring your money to a community credit union does not constitute a run on banks, it is simply shifting funds from one to another. The positive outcome of that shift is that we are able to reduce the size of the corporate giants funds- the same funds that they use to buy political power with which they take unfair advantage of people like me and my less fortunate neighbors. My local credit union: here's a link, http://www.pcpfcu.org/ Peoples Federal Credit Union in Oakland keeps the money in the community to help small business...you should read more, you would be better informed

[galivantstom]

09:00 PM on 11/03/2011

You'e absolutely right. Moving your money from a stockholder owned bank to a member owned cr isedit union by no means a run on the banks. Its just moving your money and business who represents my interests and shares the profits with me, a member - owner, not a stockholder. Institutions who we have our money with have a stewardship role to play. Our big banks have shown that stewardship is not one of their priniples. Time to move on. If a credit union is not available, move to a community bank who knows where its bread is buttered and by whom.

[urownexperience]

10:53 AM on 11/04/2011

Disrupt the nations financial health? Let me ask you, are you a human being or a financial machine. Get a life.

[tredwell]

10:25 PM on 11/04/2011

According to Obama and Timothy Gienther Im a TAX UNIT! OWS is nothing more than a SOROS led bunch of anachists attempting to create enough chaos to help his hedge funds and destroy what he hates the most Freedom loving America! You get a life! Ive had a wonderful one and Im going to make sure my kids and their kids do too!!