November 5th was officially “take your money and run” day. A day set aside for the people to hit the big Corporate banks where it hurts most, in the vaults. “Take your money and run” came about after Bank Of America decided to create a $5.00 monthly fee for any customer deciding to access their money by using their bank card.
The impact of Saturday’s “take your money” event is not yet known, but some very interesting details are coming out since the greed of big banks manifested itself in Bank Of America’s decision. A study by the Credit Union National Association shows that from September 29th to November 4th, hundreds of thousands have joined Credit Unions.
At least 650,000 consumers across the nation have joined credit unions in the past four weeks, reflecting consumers’ reactions to rising fees at banks, according to a survey by the Credit Union National Association (CUNA).
They have joined credit unions since Sept. 29, when Bank of America (BofA) unveiled its plans to charge $5 a month for debit cards. The public outcry the past month has forced BofA and other big banks to reconsider their debit fees.
Americans finally taking matters into their own hands? That’s what this country is all about!