Big Bank Breakup

At one of my recent client lunches one of my clients asked whether there are viable “community bank” alternatives to the “mega banks” where she could bank conveniently and still feel good about her money. The question has come up often in my discussions with people since the 2008 financial crisis made it necessary for the U.S. government to bail out many of the largest banks in the country.In response, I’d like to introduce you to Green America’s “Break Up With Your Bank” campaign. Green America actually kicked off this campaign a year ago and since then other campaigns have also targeted these large financial institutions, including the Huffington Post’s great high-profile “Move Your Money” campaign.

Community investing begins with community banking; that is, banking with a “community development finance institution,” as these local banks and credit unions are more technically referred to.

These big bank breakup campaigns are gathering momentum. If you are not happy with your big bank, consider a change. It turns out breaking up is not so hard to do after all.

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