Telling Potential Members to "Move It!"

by Ron Daly 

A new force is emerging in the battle for new members at CUs...from the pages of the Huffington Post comes the "Move Your Money" campaign. The goal: convince people across the country to move their money from any of the big banks to a community bank or credit union. 

moveyourmoney.info

When we first mentioned this, it was in passing, but we thought it was worth a whole post because of the traction it's been getting. We were interested to see our friends over at American Debt Relief Challenge wrote an article for Huffington Post about their good work getting folks to move their credit card balances to a CU. To date, almost $20 million has been saved thanks to balance transfers to a CU. 

Then, there was this story about New Mexico moving state funds from major banks and into credit unions and community banks (click here). This is major news - not just one member moving money, but an entire U.S. State. That's nothing to balk at, that's a big decision and a big leg-up for New Mexico CUs and community banks.

The Move Your Money folks are making waves in the media with stories popping up on ABC News and CNN Money, but they're certainly not the only ones beating the "leave the big banks" drum. 

This popped into my inbox thanks to an enterprising reader who wanted to share. 

http://www.anewwayforward.org/bankbreakup/

Some folks have made "Dear John" Valentine's cards for the bank that will no longer have their business. Some of them are pretty funny, and I love the top banner of the website that advocates moving to a credit union. At the bottom is a list of organizations that are encouraging folks to move from a "big bank" to a community bank or CU. 

Among them: 

A New Way Forward [click here]

A website - a whole organization, in fact - made up of people who want real reform in Washington and an end to bailouts and back-scratching. Their initiative is impressive, as is the group of people that are making this happen. The backbone of the organization is http://www.prosperityagenda.us

Break Up the Big Banks [click here]

The name just about says it all. Another group of "concerned citizens" advocating less power and pull for big banks and Washington. 

Americans for Financial Reform [click here]

A project of Americans for Fairness in Lending, or AFFIL. 

What do you need to know about these organizations? 

1. They are fueled by more media attention and more user/reader input. Their content is writing and producing itself thanks to enterprising bloggers and vloggers who feel let down by their big bank. Their response is being built up within their network by one reblogging the other and dragging cross-readers along with them.
2. They're not affiliated with the banks/CUs they're asking people to consider. These endeavors are not motivated by money, they're motivated by ire at the big banks. 
3. They have to shoot at a wide target. 

When these organizations link to "find a Credit Union" services, they're going to get ballparked a few CUs based on their location. Can people find you via Credit Unions 24? How about the NCUA site? Are you available? Have you been trying to market to non-members looking to move their money? 

Set aside some time today to take a look at these sites, evaluate the resources that are available, and tell potential new members to "move it!"