I'm dissatisfied with the big banks, and have been advocating moving money from the big banks to credit unions. It's not that I specifically want too-big-to-fail (TBTF) banks to fail, but it seems to be the only way to shrink them back to the designation that encompasses almost every other private enterprise in this country.
"Michael Moore's Action Plan: 15 Things Every American Can Do Right Now" recommended the switch back in October. I switched almost all of my funds to credit unions once I realized that keeping my deposits in a TBTF institution contributed to the moral hazard the finance industry finds itself in. Since switching, I have earned more interest, incurred in less "inconvenience" charges, and developed a much healthier relationship with my credit union and its employees than I ever had with TBTF.
It's a small step, and it wasn't that difficult to achieve, but it's a huge relief to know that my money isn't being used as a balance sheet justification for TBTF bank activities. It will take thousands of people switching their money to have a profound effect, so I urge everyone using TBTF banks to consider switching; to take some time to research their local banks and credit unions; to really put the big banks' assertions to the test. I found better deals and treatment in the smaller, local institutions, and I discovered that I was proud to be a credit union member and prouder not be a TBTF bank customer.
Read the Article at HuffingtonPost
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