Source: Yes Magazine
The Occupy effect? In the last 3 months, Americans switched banks at three times the normal rate.
Two summers ago, at the U.S. Social Forum, I attended a panel discussion about ways to expand the use of credit unions as alternatives to the “too big to fail” banks whose risky investments had helped tank the economy. Each of the speakers—people involved in credit union leadership or advocacy—expressed confusion and frustration that they hadn’t already seen a post-crisis shift away from corporate banks and toward credit unions (which have the advantages of being not-for-profit, owned and governed by their depositors, far more likely than big banks to lend to small businesses, and not responsible for any global economic meltdowns).