Bank Local

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Bank Local

Occupy Portland asks you to look at where you keep your money. If you are using one of the big national banks, then realize that they are using your money to make a profit for themselves.

Occupy Portland supports Bank Transfer Day and encourages you to move your money local.

Why should I move my money?

  • Vote with your dollar
  • Invests money in Main Street, not Wall Street
  • Stops “Too big to fail”
  • Fewer fees means more savings
  • More personal service
  • Buy local, bank local

Not convinced? Check out these external sites for more information on how you can help your community and yourself by banking locally.

How To Find a Credit Union or Community Bank

How To Move Your Money

The smart way to change if you have autopay, direct deposit, or other scheduled electronic transactions.

You can follow this seven-step checklist put together by Consumer Reports.

  1. Open a local credit union or community bank account. You will generally need two forms of ID, and a small amount to deposit ( typically around 25 dollars )
  2. Make a list of all the automatic payments and deposits that are scheduled to go in and out of your old account each month.
  3. If you have direct deposit, ask your employer to reroute your paychecks to your new account. Find out what date the first deposit will occur.
  4. Once you know the date, reschedule each automatic payment or debit to come out of your new account. Make sure to ask what date the change will apply.
  5. Leave a small amount of cash in your old checking account for at least one more month.
  6. Once you’re sure all automatic payments and all direct deposits are coming and going from your new account, electronically transfer the final funds from your old account into the new account.
  7. After the transfer clears in your new account, follow the procedures for closing an account at your old financial institution. Make sure to obtain written confirmation that your account is closed.

You’ll find more details at Defend Your Dollars, a site run by Consumers Union, the same people who write Consumer Reports.