Move your money month starts today
The on-going bonus culture, the failure to meet lending targets to small business and increasing customer complaints have formed the banking narrative for the public this February.
Behaviour in the city hasn’t changed. It’s time something was done about it.
March 2012 is Move Your Money Month. We’re calling for people to move their money from the five big banking groups into local, mutual and ethical alternatives.
There is a large network of Credit Unions, Building Societies, Ethical Banks and Community Development Finance Institutions in this country that keep our money safe and offer competitive rates, while investing responsibly. Find out more here.
Change and progress are preceded by action, individual and collective, and local banking systems thrive when we support them. Since the financial crisis, the alternative sector has grown considerably. Several ethical banks have seen their balance sheets double, and savings in credit unions increased by 300% over the last decade. In the US, 10 million people have moved to local financial institutions since 2010.
Move Your Money isn’t about ‘bringing down’ the big banks. This is about strengthening the alternatives and creating a more diverse system that works in the interest of wider society.
As part of MYM month, we’ll be launching our own ‘ISA page’, starting projects working in schools and student unions, supporting events at credit unions and working in parliament.
This March, whether it’s moving your current account, savings account, ISA or other financial product, make sure you’re part of building the solution - a system that is useful and secure, as well as economically, socially and environmentally fit for purpose.
Pledge to move your money now.
Tell your friends (you can pick a day to do it together), spread the word, get involved and make sure ‘moving your money’ gets off the ‘to do’ list, and into the diary.
It’s time to make British banking better.
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