Ventura Mojo


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Ventura Mojo

Keeping it Local

Time to Dump Chase Bank in Ventura County

14th January 2011

Move Your MoneySo JPMorgan announced a 47% increase in profit for the last quarter at the same time they decided to tell their clients that they’re eliminating all free checking accounts.  It’s not enough that they get to use your money for FREE since those accounts pay 0% interest… now they want you to pay them $10/month for the privilege of giving them that no interest loan.  The absurdity drips from my laptop screen.

If you have not dumped the BIG FOUR banks yet (Chase, Wells Fargo, BofA and Citi) now is the time.  The only way to defend against a financial oligarchy is to move your money.  If they have no money to throw around they have no power and thus cannot be “too big to fail”.  How do you do that?  It’s easy.  Just move your money to a local bank.  This movement started over a year ago and has really been gathering steam.  Check it out at http://www.moveyourmoneyproject.org.  There are four locally-owned banks that offer totally free checking:  Santa Barbara Bank and Trust, Montecito Bank, Rabobank and County Commerce Bank.   I’m not saying that these banks are any kinder or gentler than the big ones, but they are more likely to re-invest your money locally which benefits everyone.  And unlike 20 years ago I’ve found that the local banks are actually doing less “nickel and diming” than the big banks.  I think George Bailey would be proud.

I enjoy writing about technology, travel, wine and living in Ventura, CA.

Comments

  • Jim McPhie
    Posted at 2:42 pm June 10, 2013
    Jim McPhie
    Reply Author

    Now we’re down to two locally owned options; County Commerce Bank and Montecito Bank. Although they are involved in the community on several levels, Rabobank is a Dutch entity and Santa Barbara Bank and Trust is no more, having been absorbed by Union Bank, which is wholly owned by Mitsubishi UFJ financial group. Of course there’s always the local credit unions!