Move Your Money--To Women

The Huffington Post’s Move Your Money campaign is urging people to leave Citibank, BofA, and the like.  Why? Because, the BIG Banks got BIG TARP money from the government and are about to pay out BIG bonuses.  With squat  for the little people—many of whom are out of jobs, insurance and unemployment checks.

Huffington advocates moving your accounts to community-based banks or credit unions, which she argues are more likely to invest and help local businesses. The appeal has been answered--over a thousand people have signed the pledge to switch.

But why not go one better, and move your money into a woman’s bank? 

The Big Banks of the Bailout certainly don’t have many women partners who will benefit from the Post-Tarp largesse.  And women business owners have a tough time getting financed by the big banks.

Of course, there aren’t many woman-owned financial institutions—fewer than a dozen. And wouldn’t you know, two are in Minnesota--always the progressively cool state. 

If you’re lucky enough to live in the following cities, you can switch now to these woman-owned or  woman-run banks.  Some of them make a point of supporting  women- and minority-owned businesses.  Milwaukee's Legacy Bank is owned by African American women.

Alva Bank                               Alva, OK                                         www.bankalva.com

Bank Cherokee                       St. Paul, MN                  https://www.bankcherokee.com

Citizen’s Independent Bank    various locations                    http://www.bankcib.com
Hopkins, MN       
Robbinsdale, MN   
St. Louis Park, MN
Plymouth, MN   

First National Bank of Fairfield    Fairfield, MT                           www.tetonbanks.com

First National Bank of Hico           Hico, TX                                   http://fnbhico.com


First National Bank                       Okeene, OK

Friend Bank                                  Slocomb & Dothan, AB   http://www.friendbank.net

Legacy Bank                                 Milwaukee, Wi        https://www.legacybancorp.com

Promerica Bank                            Los Angeles, CA                www.promericabank.com
 

If you’d really not entrust more money to white men, the government keeps a database of minority-owned institutions—meaning women and African-American, Hispanic, etc.  If you have the patience, you can scroll through this small list and find an institution near you  http://www.occ.treas.gov/minority.htm 

However, that list is a bit outdated:  The Adams bank, once the largest minority-owned bank, just got bought out this fall. Not on the list, is a woman’s bank in Iraq, but your deposit there probably wouldn't be FDIC insured.

If you know of any others, please send an email to editor(at)womenmakenews(dot).com


cross posted to Mom's Rising