The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

Want To Protest Against The Big Banks? Close Your Account And Switch To A Credit Union

On October 24th, 2011, posted in: Uncategorized by 1 Comment

To optimize the success of the “Occupy Wall Street” (OWS) demonstrations, one should “Occupy Main Street.”  Protestors should complement their angry voice with the defiant action of shifting away from the national banks (gluttonous for profit) to a local financial institution motivated to do good in the community we call home.  We’re easy to find!  We’re on Main Street, and we’re called a credit union.

Credit unions are not-for-profit, member-owned financial cooperatives.  If you’re a true, dyed-in-the-wool OWS advocate, then that may be all you need to know.  “People helping people” is another one of our bumper stickers.  You get it.  Our motivation, by charter, is all about providing value and service to the owners of our institutions – the people who live on and around (you guessed it) Main Street.

Banners with messages such as “Stop the Banks,” and booing commercials for Bank of America during the World Series games, are one’s prerogative.  But if you want to make a real difference, pack up your pup tent and megaphones, stop by the bank and close your account.  Then continue home and sleep in a warm bed.  The next morning, open your account at a credit union.  Yes, leaving the big bank may result in having access to a few less ATMs, but since when doesn’t revolution demand sacrifice?

It is time for those who truly care about corporate greed to become mindful of their choices.  Vote with your feet, your wallet, your conscience and your actions by saying good-bye to institutions motivated by a singular desire to get rich, and seek out those businesses that have a heart for corporate shared value.

St. Louis Community Credit Union manages multiple bottom lines: financial, social, moral and philosophical.  Yes, we are financially strong and stable.  And yes, your deposits are federally insured.  Yes, we make money, and it is returned to you in the form of lower fees, better loan rates and higher deposit rates.  That all equates to you, your family and others in the community having an increased standard of living and a better lifestyle.  I think that’s what OWS ultimately wants for what they call “the 99 percent.” 

Society has been conditioned by sports to expect winners and losers.  National banks are the winners, leaving consumers little time or money to enjoy the spoils of victory.  The corporate pie is an accumulation of greed eaten up long before consumers get their piece.  The credit union pie expands.  The more we make, the more we give back.  And the winner is you!  Haven’t heard that in awhile, have you?

I have yet to fully understand what the OWS is attempting to achieve.  But I hear the part (loud and clear) about national banks and their thirst for greed.  They’re not going to change – they can’t help themselves.  Earning profit for their stockholders is what they do.  But, now you know you have an option.  Check out Main Streets’ credit unions and occupy them.  St. Louis will be a better place for it!

One Response to “Want To Protest Against The Big Banks? Close Your Account And Switch To A Credit Union”

  • Cliff Rosenthal says:

    Great stuff, Patrick!  Now, I'd just like to add: make sure to educate everyone that walks through the door or your portal that yours is a cooperative — a different way of doing business.
    Cliff Rosenthal

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