Hello all! This topic has been on my brain for a while now, but after seeing what happen in Cyprus I guess its time to act. Most people here are critical of Banks to the point of hating them. I think we all agree however there are good banks and bad banks. So, tell me what bank you use or if you ever thought of changing to another. Or maybe you have something relevant to say. I'll start. I use chase because they give free accounts out college students. I'm gonna looks up some banks up in my area and change though.
I don't bank with any mega banks, only local credit unions. The big banks are the ones primarily responsible for all booms and busts, including the current one. Giving them business, knowing what they do, would be unethical to me. They don't deserve a dime of my money.
Sorry for the double post, and sidetrack that relates to another thread: I think CUs are a good example of (sort of) left-libertarian philosophy. I mean, they work within the framework of the government, but if more people used them (voluntarily) then the ultimate result would be the break down of the corporatist policies that created BoA and Chase in the first place, and a more free market system of banking? Does that makes sense?
Well, if left-libertarian philosophy is being defined as anti-corporatist (which in reality is anyone that advocates for free markets) then sure. Credit Unions are good because they are mutually owned by its members. Which I guess could be seen as leftist however it's that's too narrow IMO. Free markets are a better description.
Well it does fit the mutualist goals nicely, but I agree with you. It's not left, right, or anything in between. It's just one of many ways to run a business.
I had a Chase account (they're the nearest) until they screwed up my account and it ended up being closed with money still in it, which they apparently can't get back. Never again; cash it is. Even if you accept checks and go to the bank that issued it, you're charged a fee unless you have an account. That kind of thieving bullshit is not something I can support. I suppose once I find a job, I'll have to accept checks, and will have to find a decent credit union, but I swear to god if they ever charge me just to get paid I'm quitting and starting an economic revolution. Banks are nothing but thieving leeches on society.
Thanks for all the responses guys. In response to lenny88 and Lay Low I will DEFINITELY look into local credit unions. Its actually the first time I have heard of it. Thanks a bunch.
Credit union user here, I bailed on SunTrust 3 years ago.....hard to believe some of you anti-establishment folks didn't know this....lol