While enrollment in Credit Unions has skyrocketed, according to the Chris Bowers a reporter for the Daily Koss, it would be invalid to conclude that this was the result of the Occupy Wall Street Movement.
The Facebook Page of "Bank Protest Day" which is to be held tomorrow November 5th specifically reads:
"While the Bank Transfer Day movement acknowledges the enthusiasm from Occupy Wall Street, the Bank Transfer Day movement was neither inspired by, derived from nor organized by the Occupy Wall Street movement, and the Bank Transfer Day movement does not endorse any activities conducted by Occupy Wall Street."
While the organizer, Kristen Christian, credits Edddie Cola for Use of the "Guy Fawkes" image ( http://www.facebook.com/eddie.colla ) it is interesting to note that Guy Fawkes has become the "offical logo" of the hackster group, Anonymous.
Kristen is clear that, however, that she has no association to Anonymour and neither to Occupy Wall Street. According to her Facebook "Kristen Christian, a private citizen and small business owner with no affiliations to Anonymous or Occupy Wall Street. While she's now a proud member of Coast Hills Credit Union... and Los Angeles Federal Credit Union, she's not a credit union employee. She's received no public or private donations for her efforts or costs associated with this movement. Every bit of work on BTD is a testament to her love for her community & neighbors. She genuinely believes we can pull ourselves out of this economic mess the big banks caused by investing in local not-for-profit credit unions."
According to Kristen anyone can join. To join visit her page on Facebook and she has a list of instructions about what to do including:
- Research your local credit union options
- Open an account with the one that best suits your needs
- Cancel all automatic withdrawals & deposits
- Transfer your funds to the new account
- Follow your bank's procedures to close your account before 11/05
More people joined Credit Unions since the Bank of America Fee debacle, according to the Huffington Post, than in the entire year of 2010:
"At least 650,000 customers opened new accounts at credit unions since September 29, the day Bank of America announced it would charge customers a $5 per month fee to use their debit card for purchases starting in 2012, the Credit Union National Association estimates. If that number holds true, it would be more than the 600,000 consumers that joined credit unions in all of 2010."
Credit Unions around the country clearly are major beneficiaries of this move and are enticing customers to make the switch. While many in the Occupy Wall Street movement will claim that they are the cause of this move, it seems apparent that the connection between Bank Transfer Day 2011 and OWS and Anonymous are tenuous at best.
Thanks to Bank Transfer Day up to 65,000 people dumped their banks