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Credit Unions

Top 5 Reasons To Choose A Community Bank Or Credit Union

Most locally owned banks and credit unions offer the same array of services, from online bill paying to debit and credit cards, at much lower cost than big banks. Average fees at small banks and credit unions are substantially lower than at big banks, according to national data. Studies show that small financial institutions also offer, on average, better interest rates on savings and better terms on credit cards and other loans.

Black-Led Credit Union: ‘Most Important Work’ To Drive Economic Vitality

By Camille Erickson for TC Daily Planet - “We can’t keep using the bodies of youth as the only tool for resistance,” Me’Lea Connelly, executive director of the Association of Black Economic Power (ABEP) said, “we need something else.” In the wake of the killing of Jamar Clark on Nov. 15, 2015 and the ensuing Fourth Precinct occupation, followed less than a year later by the killing of Philando Castile on July 6, 2016, Connelly recalled a drive for a concerted effort with movement organizers to diversify tactics of resistance against police brutality. A meeting was called, and after hours of conversation with a cross section of community, the group voted to create Minnesota’s only Black-led financial institution in North Minneapolis. A symbiotic relationship exists between ABEP and Blexit. Connelly described Blexit as the incubator and nest where ideas put forth by the community are percolated. ABEP puts them into action. The ABEP Executive Committee composed of – Connelly, Brett Grant, Ron Harris, Amber Jones, Danielle Mkali, Felicia Perry and Y. Elaine Rasmussen – are leading the effort to build the foundations of the credit union while still remaining deeply grounded in the conceptions of resistance movement.

Newsletter: After The Crash…

By Kevin Zeese and Margaret Flowers for Popular Resistance. The economic agenda described here would create a radical transformation of the economy from a top-down system designed for the wealthiest, to a botton-up system that creates a foundation for an economy that benefits all. Putting in place this economy would move us from a plutocratic economy to a democratized economy where people have economic control over their lives. It is a radical shift – how can it happen? There is only one path – the people must be educated, organized and mobilized to demand it. We need to change the political culture to one where the necessities of the people and protection of the planet are the priorities of the economy. If predictions are correct, the next economic collapse will deeper and more damaging than the 2008 collapse. It will be a tremendous opportunity to demand radical economic change. It is one the movement for economic, racial and environmental justice should be preparing for now.

Church Plans to ‘Compete’ Wonga Out of Business

The Most Rev Justin Welby told Wonga boss Errol Damelin the Church planned to do this by expanding credit unions as an alternative to payday lenders. The plan is to create "credit unions that are... engaged in their communities", he said. Mr Damelin said he was "all for better consumer choice". Payday firms offer short-term loans, often at high interest rates, and have been accused of leading people into more debt. Archbishop Welby, a former financier who sits on the Parliamentary Commission on Banking Standards, has previously lobbied for a cap on high interest rates charged by loan companies. He said the Church could do more to help non-profit lenders to compete with payday firms. "I've met the head of Wonga, and we had a very good conversation," the archbishop told Total Politics magazine.
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