12/04/2012 03:02 pm ET

Local Banks In San Joaquin Valley, California See Residents Favor Local Over Big Banks

People are stashing more money in locally owned banks and credit unions in the central San Joaquin Valley, while one of the nation's largest banks has seen deposits nose-dive at its branches in the region.

No one's quite sure why, although the trend coincides with the rise of public sentiment against big banks in the depths of the recession.

About three years ago, political pundit Arianna Huffington and her Huffington Post website launched Move Your Money, an effort to encourage people and businesses to shift their money away from the largest national banks -- largely perceived as the main contributors to the economic crash -- and into smaller community banks.

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