Unchained in America

Unchained in America was recently cited in a comment on Zero Hedge, an online financial media outlet in an article about the Move Your Money Campaign which is sweeping America.  We’re thrilled when our blog makes it into national media sites, here in reference to not only keeping your money local, but also shopping local.

I had read about the Move Your Money Campaign a few months ago in my copy of Yes! Magazine and was intrigued by the campaign. The idea was started by three big shots sitting around eating dinner after the financial crisis. They decided that one thing they could do to make a difference was to pull their money – and I imagine they have a lot more money than I do – from their big corporate banks and move it to small community banks.

“Community banks are typically more conservative about how they manage their money, they’re more closely connected to the people and businesses who live near them, and they’re more inclined to make loans they know will get paid back. In other words, they have the values that more people would want banks to have,” the friends explain on the Move Your Money website.

If you go to the website you can find a link where you can type in your zip code and find local banks where you can move your money. I did and found the local banks I thought I’d find, Bank of Cleveland, Southern Heritage, and Athens Federal. I did not find my bank, First Tennessee, which has branches across the state.

First Tennessee in Cleveland

After reading the article in Yes!, Dan and I had considered moving our money from First Tennessee, but decided not to for a variety of reasons. First Tennessee feels and acts like a local bank to us. We know all the bankers and tellers at our bank on a first name basis and are treated with great customer service. First Tennessee contributes heavily to all the charities in our community – which does not happen with all the big banks in our city. Their staff serve on non-profit boards and get involved in the community.  There just was no way we could see that they weren’t a community bank so we kept our money with them.

But we do encourage you to read about Move Your Money and consider your local community banks. They give so much to their communities! I know that Bank of Cleveland, Southern Heritage and Athens Federal are all great banks that have helped Cleveland immensely. Local is the way to go whether its with your shopping or your bank!

I’d be interested to know about your banking experiences. Drop us a line on the Unchained blog!