Why is "Banks Giving" a headline we never expect to read? And isn't it time we acted in unison to do something about that?
Like you, I've grown increasingly uneasy about the money financial institutions are making. And the obscene bonuses paid to senior people (you can be sure that tellers aren't in line for such excess).
I've been wondering what the average person can do - in addition to sending clear messages to our leaders. An interesting story out of Australia (written by Keith Bradsher of the New York Times) shows the power of activism. After years of complaints by small business (retailers and restaurants), banks and credit card companies reduced merchant fees. The story also shows the limits. As fast as regulators came up with restrictions, banks came up with new fees. It's a vicious (and I do mean vicious) circle.
I started thinking about all of this in New Radical terms. Instead of waiting for someone else to solve the world's problems, New Radicals say, "I can do it!". And they come up with positive, constructive, and hopeful approaches. So, if straightforward activism (viz Australia) has its limits, what else can we do?
Can we get off the financial grid altogether?
I'm not talking about the proverbial mattress or even local trading coupons. I'm looking for ideas that work in our 21st century world. I want to hear about smart, sustainable financial alternatives. Has anyone started a "good" bank - and, if so, why haven't we all heard about it? What other options are out there, or in the works? I've been writing about "good" venture capitalists, including the SOCAP conference last September in San Francisco (which was attended by every major financial institution - they know something's up). What about day-to-day banking? Mortgages? Credit cards?
What are you doing? What have you heard about? How can a new breed of financial institution help bring our ailing world back to full health? How might we encourage the banks of today to start thinking like the banks of tomorrow? How can we help them see that we exist not only for ourselves but also for each other? Because, well, that's what this holiday season is all about.
Please share your thoughts by commenting below. As always, I invite you to email me at JULIA (familiar symbol) wearethenewradicals (symbol) (COM).
Julia Moulden is on tour, talking about the New Radicals. She doesn't leave home without them.
Follow Julia Moulden on Twitter: www.twitter.com/juliamoulden
Nothing is beyond our ability to make constructive change towards the world we want to experience more of.
With love and appreciation,
Anne
better1than1million.com where we believe that it is better for 1 bank to go bankrupt than 1 million people. Withdraw funds and fees from national banks and credit cards companies. They have all proved themselves not trustworthy, deceptive and greedy beyond description.. Credit unions can be a good alternative but one of our local credit unions are really not much better. Still greedy, not flexible, fee oriented and low on customer respect. People have to have a way of storing and retrieving money instead of keeping cash at home but more a utility-type maybe a quasi-government or district based, like a fire district organization needs to be created.
not for profit
locally owned
decisions are made locally
fiscally conservative
no huge salaries
fair treatment of employees
Please, please, please .... the best New Radical thing for anyone to do is to get thee to thy local credit union today!
Peace on ya,
BB
Another great thing about credit unions, I can call my CR & talk to someone locally about problems and not have to try to deal with someone in another country that barely speaks English.
Let's show these international, ''too big to fail'' banks that they are NOT to big to fail. They've bamboozeled us enough.
A wonderful institution called One California Bank (http://onecalif.com/about.aspx) in Oakland is dedicated to triple bottom line (profit, people, planet) performance offering low-cost, transparent services for an underserved area of the city. One California Bank was begun by a couple who definitely fall into the New Radicals label, Kat Taylor and Tom Steyer.
New Resource Bank (http://www.newresourcebank.com) in SF is a green community bank that aims to promote sustainable growth. The bank is a founding member of the Global Alliance for Banking on Values.