5 Reasons to Put Your Money in a Credit Union
By DJ Pangburn / deathandtaxesmag.com
Sep 19, 2011

Help limit the influence of big corporate banks and strike a blow for the working man by moving your funds to a credit union.

1. Fuck Convenience (And Your Money is Federally-Insured)

The subversion used by the big banks is “convenience.”  How it makes cattle of us all.  It’s the same predilection or tendency that leads one to McDonald’s or Dunkin’ Donuts instead of traveling across a city to a farmer’s market, and enjoying the stroll whilst doing so.  They reel unwitting fools in by the matter of convenience.  Well, fuck convenience.  Walk the extra few blocks, bike it or hop on a train to either a credit union or small local bank.

There is nothing convenient about giving one’s money to the unethical, especially when it enables them to execute risky investments, lose it all and come slithering back on their underbellies to beg the middle class for bailouts.  Yes, your money is an an enabler of bad behavior.

Like a naughty child, you must take the source of bad behavior from them and let the bastard cry.  Note that credit unions are also federally-insured, so your money is as safe as if it were in a corporate bank.

2. Your Money Will Not Precipitate Economic Crashes

Credit Unions, co-ops and small banks are not too big to fail.  As such, they are careful in how they spread risk and will not precipitate economic crashes like that which we experienced in 2008: a crisis of big banks mingling financial tentacles and appendages with corporate insurance firms (see: AIG) and high-flying investors who have zero sympathy for the plebes.

This ties into the convenience question: our pathological need for convenience draws us to the big banks like an electro-magnetic force, or perhaps more appropriately, black holes of crushing disintegration, from which no light in the world can escape.

3. Your Money Will Not Line the Pockets of Fat Cats

Fact: Your money will not line the pockets of rich bank executives.  Your money will not be used to pay out exorbitant bonuses even as the economy implodes.  Your money, in turn, will not add to the salary, stock options and other compensation of, say, Bank of America‘sBrian Moynihan or Washington Mutual’s Kerry Killinger—who made $25.1 million as his company collapses.

Credit unions exist to create a reasonable profit in order to remain solvent, not to enrich executives, boards and investors.  Excess earnings, in turn, are used to offer members more affordable loans for housing and businesses, as well as lower fees.

4. You Are Part of a Union, With Voting Rights

Credit unions are member-owned and democratic.  Each member has a vote and can run for the credit union’s board.  This is a right you absolutely do not have at large, corporate banks.

5. No Financing of Unethical Business

This past December, Bank of America financed the sale of Erik Prince’s Blackwater (now Xe) for $500 million to a group of investors, describing the mercenary army’s business—which had slaughtered scores of Iraqis—a “growth industry.”  Washington Mutual collapsed because of its overwhelming exposure to predatory loans in the sub-prime mortgage crisis (and they were merely one of many).

Corporate banks often exist in a morally bankrupt looking glass world into which we cannot, by virtue of our social status, peer.  And it’s through that looking glass that unethical decisions are made, in which Bank of America believes it is morally and ethically advisable to finance a deal for Blackwater.

Credit unions, one can be sure, will not be making such deals.

What To Do

Find a Credit Union in your city and make the switch. You can use this site to easily find credit unions near you and to get more information: 

http://www.findacreditunion.com

4.3 ·
2
Trending Today
The Top 100 Documentaries We Can Use to Change the World
Films For Action · 17,362 views today · A more beautiful, just and sustainable world is possible. Take this library and use it to inspire global change!
Obama's Hidden Role in Worsening Climate Change
Stansfield Smith · 4,080 views today · It should be a scandal that leftists-liberals paint Trump as a special threat, a war mongerer – not Obama who is the first president to be at war everyday of his eight years...
John Lennon's "Imagine," Made Into a Comic Strip
John Lennon. Art by Pablo Stanley · 2,008 views today · This is easily the best comic strip ever made.  Pabl
Today I Rise: This Beautiful Short Film Is Like a Love Poem For Your Heart and Soul
4 min · 1,089 views today · "The world is missing what I am ready to give: My Wisdom, My Sweetness, My Love and My hunger for Peace." "Where are you? Where are you, little girl with broken wings but full...
Make The Serengeti Great Again | Resource Scarcity, Demagogues and How Creativity Can Trump Hate (2017)
5 min · 788 views today · A Familiar Tale of Resource Scarcity, Demagogues, and How Creativity Can Trump Hate A quick, original, illustrated allegory that pokes at the demagogues we’ve got with an...
Deconstructing Hierarchies: On Contrived Leadership and Arbitrary Positions of Power
Colin Jenkins · 526 views today · Bosses don't grow on trees. They don't magically appear at your job. They aren't born into their roles. They are created. They are manufactured to fulfill arbitrary positions...
How Mindfulness Empowers Us
2 min · 508 views today · Many traditions speak of the opposing forces within us, vying for our attention. Native American stories speak of two wolves, the angry wolf and the loving wolf, who both live...
Baraka (1992)
97 min · 502 views today · Featuring no conventional narrative, this film presents footage of people, places and things from around the world. From chaotic cities to barren wilderness, the movie takes...
What Is a Gift Economy? - Alex Gendler
4 min · 389 views today · What if, this holiday season, instead of saying "thank you" to your aunt for her gift of a knitted sweater, the polite response expected from you was to show up at her house in...
Dinosaur explains Trump policies better than Trump!
8 min · 315 views today · Donald Trump is actually the corporate triceratops, Mr. Richfield, from the 90's TV show sitcom, "Dinosaurs". 
Why It's Crucial for Women to Heal the Mother Wound
Bethany Webster · 261 views today · The issue at the core of women’s empowerment is the mother wound
"Desert Goddess" Remembers Arizona's Glen Canyon
7 min · 258 views today · In this excerpt from the award-winning documentary DamNation, filmmakers Ben Knight and Travis Rummel interview the "desert goddess," Katie Lee. When the Glen Canyon Dam was...
Defiance in the Face of Oppression - Iranian Artist Atena Farghadani Defends the Right to Draw
Gavin Aung Than · 235 views today · Atena Farghadani is a 28-year-old Iranian artist. She was recently sentenced to 12 years and 9 months in prison for drawing a cartoon.  
Why I Think This World Should End
4 min · 212 views today · Sorry if this offends you. - Prince Ea
HUMAN (2015)
382 min · 202 views today · What is it that makes us human? Is it that we love, that we fight? That we laugh? Cry? Our curiosity? The quest for discovery?  Driven by these questions, filmmaker and artist...
Bertrand Russell & Buckminster Fuller on Why We Should Work Less, and Live & Learn More
Josh Jones · 197 views today · Why must we all work long hours to earn the right to live? Why must only the wealthy have a access to leisure, aesthetic pleasure, self-actualization…? Everyone seems to have...
The White Man in That Photo
Riccardo Gazzaniga · 194 views today · Sometimes photographs deceive. Take this one, for example. It represents John Carlos and Tommie Smith’s rebellious gesture the day they won medals for the 200 meters at the...
Here's How We're Going to End Factory Farming
2 min · 191 views today · Factory farming is a huge problem. But the solution is simple, if you'll join us. Watch this short 2 minute video to see how... Help make a kinder world possible...
Trump Is a Symptom of a Sickness That Is Raging All Across The World
1 min · 180 views today · This is why we are here. And this is what we need to remember. 
Union Co-Operatives: What They Are and Why We Need Them
Simon Taylor · 179 views today · Neoliberal policies contribute to alienation, disempowerment and non-unionised jobs, but a new model for unions could break the vicious circle, argues Simon Taylor.
Load More
What's Next
Like us on Facebook?
5 Reasons to Put Your Money in a Credit Union