“Move Your Money”…to a Credit Union!
January 11, 2010
I’m sure by now you’ve heard of the “Move Your Money” campaign first started by Arianna Huffington of the Huffington Post.
Basically, they’re saying that “Too-big-to-fail banks are profiting from bailout dollars and government guarantees, and growing bigger.” And, much like It’s a Wonderful Life, they are urging consumers to move their money from the big banks to smaller community banks. Initially, there was no mention of credit unions. However, after several readers wrote in (myself included) suggesting Huffington steer consumers to credit unions as well, they are now doing just that.
The “Move Your Money” campaign has gained national popularity in such a way that I really wish we could measure how many people actually do move their money to community banks and credit unions.
If you are moved (pun intended) by this campaign, please consider moving your money to MCCU or a local credit union in your area. Remember, credit unions have the same insurance limits as banks, all federally insured by the National Credit Union Administration, or NCUA. Most credit unions, like MCCU, offer everything a bank does, oftentimes with lower fees and better rates/programs. Looking for a loan? Check with your local credit union first.
If you are still with a “big bank” and want to move your money, consider a credit union first.
Questions or Comments? E-Mail me at blogger@matadorsmoneymatters.com.
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