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Featured Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Nov 27, 2012

Free Checking is Rare at Big Banks, Common at Small

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/free-checking-rare-big-banks-common-small/

While just 24 percent of big banks offer totally free checking, more than 60 percent of credit unions and small banks do, according to a new report from the U.S. Public Interest Research Group. The report also found that credit unions and small banks have lower fees on average and do a better job of disclosing fees to prospective customers. Continue reading

Rule filed under Banking | Written by ILSR Admin | No Comments | Updated on Aug 17, 2012

Local and Responsible Banking Resolution — Portland, OR

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/rule/depositing-public-funds-in-local-banks/local-responsible-banking-resolution-portland/

This resolution directs the City Treasurer to shift up to $2.5 million in city funds to local financial institutions. Continue reading

Rule filed under Banking | Written by ILSR Admin | No Comments | Updated on May 24, 2012

Responsible Banking Act — Los Angeles

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/rule/depositing-public-funds-in-local-banks/responsible-banking-act-los-angeles/

Banks that wish to do business with the City of Los Angeles must annually submit information on their lending and investments in each of the city’s census tracts. Continue reading

Rule filed under Banking | Written by ILSR Admin | No Comments | Updated on May 9, 2011

Depositing Public Funds in Local Banks – Massachusetts

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/rule/depositing-public-funds-in-local-banks/3128-2/

Just 18 months after establishing the Massachusetts Small Business Banking Partnership, the state treasurer has moved over $270 million in state funds to 50 local banks. These 50 banks in turn have made over 2,500 new small business loans, many directly attributable to the state’s deposits. Continue reading

Rule filed under Banking | Written by ILSR Admin | No Comments | Updated on Nov 19, 2010

Depositing Public Funds in Local Banks – Multnomah County, Oregon

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/rule/depositing-public-funds-in-local-banks/3078-2/

On November 18, 2010, the Multnomah County Board of Commissioners approved a measure that creates a Community Advantage Banking Program, under which the county will invest $10 million of its funds with qualifying local community banks and local credit unions.  The investment is expected to expand local lending, particularly to small businesses. Continue reading

Resource filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Jun 30, 2010

7 Simple Steps to Move Your Checking Account

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/seven-simple-steps-move-your-checking-account/

This guide will walk you through the steps of moving your bank account. You can download this a flyer to distribute in your community. Continue reading

Resource filed under Banking | Written by Stacy Mitchell | 11 Comments | Updated on Jun 30, 2010

Top 5 Reasons to Choose a Community Bank or Credit Union

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/top-5-reasons-choose-community-bank-or-credit-union/

Here are the most compelling reasons to move your money to a locally owned bank or credit union. You can download this as flyer to distribute in your community. Continue reading

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Article filed under Banking | Written by Stacy Mitchell | No Comments | Updated on Jun 22, 2010

Credit Unions Hang Tough, See Surge in Deposits

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/credit-unions-hang-tough-see-surge-deposits/

In the perilous aftermath of one of the worst financial disasters in U.S. history, one might expect credit unions — which, after all, are mostly tiny by the standards of the banking industry and operated on a cooperative, not-for-profit basis — to be struggling. But data from the last 18 months show that the country’s 7,600 credit unions are in fact outperforming big banks and rapidly expanding their market share. Continue reading

Article filed under Banking, Independent Business | Written by Stacy Mitchell | 1 Comment | Updated on Apr 19, 2010

Bank Local: Indie Businesses Embrace Move Your Money

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/bank-local-indie-businesses-embrace-move-your-money/

Across the country, independent business groups that have been urging people to "buy local" are now making "bank local" an increasingly prominent part of their message, bringing new grassroots visibility and organizational infrastructure to the Move Your Money movement. Continue reading

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Featured Resource filed under Banking | Written by Stacy Mitchell | 2 Comments | Updated on Apr 19, 2010

Tools for Starting a Local Move Your Money Campaign

The content that follows was originally published on the Institute for Local Self-Reliance website at http://ilsr.org/resources-starting-local-banking-campaign-your-community/

Is your community organization or local business alliance thinking about launching a public education campaign to encourage people to move their accounts to locally owned banks and credit unions? We have a range of resources to assist you, including help with definitions and identifying local banks, sample flyers, graphs and background articles, examples of local banking campaign materials from around the country, and more.  Continue reading