My university and many other Jesuit institutions uphold a great standard in their commitment to fighting for social justice. Is investing in corporate banks, which foreclose on families who they purposefully target with sub-prime mortgage loans, socially just?
By keeping their massive endowments in big banks, colleges inherently support the behaviors of those banks and everything those banks invest in. And those things happen to constitute the seeds sowed from which we now reap this crisis.
The U.S. banking industry is entering a particularly volatile period in our nation's economic history that is rapidly reshaping the industry, the demographics of financial services providers, and the way that financial products and services are delivered and consumed.
Today, tens of thousands of people all over the country will leave the big banks and move their money to community banks and credit unions, where people remember things like customer service and loyalty.
Consumers are upset about bank fees. They have also been intrigued by "Bank Transfer Day," another reason our credit unions are telling us new members are coming in the door. These new members have made the right choice, because they can now start saving.
To enjoy the real benefits of credit cards, you'll need to keep your secured account in good standing for a year or two. Commit to earning and saving more money, so you can control your credit cards instead of letting them control you.