While everyday Americans suffer in these tough economic times, big banks, largely responsible for the crisis with their “too big to fail” power, enjoy record high profits.
In a grassroots effort to get back at these institution, communications firm Fearless Revolution has created a step-by-step guide to leaving your big bank and joining a credit union.
Fearless Revolution reports:
3. Stop using your deposit accounts ASAP. You need to allow everything to clear the accounts completely before you close them. This clearing process takes about two weeks to complete. Keep close tabs online to see which transactions are still outstanding.
If you currently have checking and savings accounts (deposit accounts) with a big bank, the organizers encourage you to remove all of your funds, close your accounts, and place your money in a new deposit account with a not-for-profit credit union.