Ignatian News Network joins the non-partisan group LA Voice at a meeting in downtown LA outside of City Hall, to hear about their proposed bill, The Responsible Bank Initiative. LA Voice is part of the PICO National Network, which organizes community congregations of all different faiths that fight against various local neighborhood issues and obstacles.
Let’s be honest. Most of us have what money we have in some big bank because of a) convenience or b) our little bank got eaten up by a big bank and we just didn’t have the time or energy to find some place new.
Last year I went through several hoops to get my accounts out of Bank of America only to find that, 2 months after I switched, my new bank had been taken over by Wells Fargo. Argh!
But now, I’m going to try for it again. I want to try to move most of my accounts to Self-help Credit Union in North Carolina and keep a small checking account here in DC with Lafayette Federal Credit Union that serves D.C. residents.
It’s time for Americans to reinvest in community banks. This movement has been building for a number of years. Churches in particular have made community economics a priority.
Ched Myers and the folks at the Sabbath Economics Cooperative have been educating on community investing as a faith act for 25 years. Now, what was once only practiced by a few is graduating into a mainstream movement of the many.
Eric Stoner over at Waging Nonviolence has a nice post on the movement to get Americans to shift their money out of big banks into community banks and credit unions. There’s also a great little video (below) out promoting the Move Your Money campaign.
Sojourners’ Jim Wallis also just put out a book called Rediscovering Values on what the Bible teaches us about our current economic debacle and had a good piece in the Washington Post called A Religious Response to the Financial Crisis.
Wallis says, “The market’s first commandment, “There is never enough,” must be replaced by the dictums of God’s economy — namely, there is enough, if we share it. … Already, pastors, lay leaders and innovative faith-based practitioners are suggesting creative answers: mutual aid; congregational and community credit unions; and new cooperative strategies for solving such problems as hunger, homelessness and joblessness. If these initiatives succeed, the economic crisis may offer congregations a rare opportunity to clarify their missions and reconnect with their communities. ”
Tell me your stories on where you store the green stuff and what it helps to grow!