November 5th is upon us — the day we are urged to move our money from corporate banks like Chase, Bank of America, Wells Fargo, and Citibank into small community banks and credit unions. There are some great articles out there explaining the hows and whys of moving your money. This one by AlterNet's Lynn Parramore is great, as is this piece by Mother Jones' Josh Harkinson. Read those in their entirety if you can.
Really, you only need a few basic resources to move your money. Here they are, via the Move Your Money Project website:
—A short primer on why you should take your money out of corporate banks.
—A tool to find community banks and credit unions near you and to check your local banks' IRA rating, which tells you how sound an institution is.
—An easy seven-step guide to switching banks.
That's it! That's everything you need to know about moving your money. And it seems that this message is already getting out. Last month, some 650,000 Americans joined a credit union — that's more than the number of people who joined a credit union in all of last year. Will you join their ranks?