One of SHTF Plan’s regular contributors, Greg, posted a recent comment where he brought up the silent revolution that is taking place across America.
I listened on DemocracyNow! this morning about how there is a grassroots movement beginning urging people to move their money from â€œtoo-big-to-failâ€ banks to local or regional smaller banks. If you canâ€™t get Washington to offer real reform on Wall Street you can take direct action and move your money out of those banks. Iâ€™m already with a smaller regional bank. I urge everybody to research the smaller, FDIC-insured banks in your area and move your money to them, instead of the bailout banks.
Well, perhaps it’s not so silent any more. The Move Your Money Project Urges People to Transfer Money Out of the Nationâ€™s Largest Banks Into Local Community Banks. (Video posted below)
How do we make Wall Street feel the power of those who are considered powerless? We let them feel it in their wallets!
Is my local community bank or regional bank safe?
This is an important question to consider before opening an account at a new bank, especially in these trying times.
Before you move your life savings, be sure you are moving your money to a bank that is on solid footing. Though you will have FDIC insurance at a local community bank, you want to make sure the doors don’t close on you right before the rent is due, so we recommend checking out Martin Weiss’ list of Safe and Dangerous banks.
IMPORTANT READING: How to Check the Safety of Your Bank
Strongest Banks and Thrifts (Data from 2nd Quarter 2009; List updated Dec 2009)
Weakest Banks and Thrifts (Data from 2nd Quarter 2009; List Update Dec 2009)
If your bank is on the Weakest banks and thrifts, we recommend you RUN FOR COVER NOW!
To do a quick search of safe community banks in your area (rated “B” or above) visit the Move Your Money web site at http://moveyourmoney.info/
Watch a Video from Move Your Money:
To listen to the Democracy Now interview Greg referenced in his comment, click here.