By now, you’ve probably heard of the Move Your Money movement. The core idea is that, if you’re fed up with the behavior of the big banks that contributed to the economic crisis, then you should yank your checking & savings account out of Bank of America (or Wells Fargo, etc.) and into a local bank or credit union.
What impresses me about this movement is that its leaders have been able to channel anger into action. So often movement leaders are great at getting people riled up about problems or inadequacies or betrayals. And then, inevitably, the call to action is: Call your Congressman. (Or, sign this internet petition!)
Some critics have argued that moving your checking account won’t accomplish much, but I think that’s the wrong way to look at it. Andrew Leonard nails it:
Move Your Money is a way to assert independence and autonomy in a world that seems all too shaped by powerful forces beyond our control. And while J.P. Morgan CEO Jamie Dimon doesn’t appear to be shaking in his boots yet at the threat to his dominion, for a smaller, local bank, every new account makes a real difference. That’s more than enough reason to make a change.
For a movement to work, it’s got to move. Its supporters need to feel like they’re capable of meaningful group action. And if Move Your Money can accomplish that — if its followers learn that they can speak with one voice, and that their voice is heard — who knows what their *third* step will be.