Friday, February 10, 2012

Money Move campaign is to encourage consumers to take a stand against banking greed. We suggest an alternative home for your money if you decide to make a stand

at Barclays headquarters in the city, the bank said Friday billions in profits and hundreds of millions of dollars in bonds to be shared among an elite group of traders and administrators. However, at ground level - and a world away from the marble and glass from the executive suites - it was a very different picture, as more than 50 customers in line outside a neighboring branch, ready to close their accounts and cut your

activists expect net discharge will become a flood as the public vents his frustration against the banks of Great Britain in the best possible way -. Moving your money

move your money campaign is a child of the movement occupy Wall Street, which has captured the imagination of the American public with a simple but powerful slogan:. "Investing in Main Street, not Wall Street"

is said to have carried more than 10 million people move their money to local financial institutions, with a "Day of the transfer order" in November saw more than 40,000 people switch.

move your money is released in the UK in March with the motto "Best Bank" in the belief that everyone can take concrete steps to create a more stable banking system and ethics. "We are all unhappy with the cuts, what happens in schools and libraries, etc., taking into account the truckloads of cash that supported banks," said Ed Mayo, Director of Cooperatives UK.

"Individually, you can not do everything possible to put the right to a fair economy - .. But you can do something to move your money that fair trade is new the

campaign for our time. "

The National Union of Students has come, and encourage student unions to local garbage accounts with five banks of ethical alternatives, such as construction of the cooperative or across the country . It is an echo of the 1980s successful boycott of Barclays and its operations in the apartheid era in South Africa.

far, just over 2,000 people signed a pledge to "record their vote against business as usual", but Louis organizer Brooke says she is still Suddenly with the site open only four days.

In March, a series of events to try and keep the campaign in the public eye, including a national petition. And not just the crusty protesters threaten to relocate their discovery - the campaign says it is close to convince even some Conservative MPs to take oath

If you want to join, what can you do? Here's the money guide where you can move your money ethically.

1. Ethical banks

Why should I change?

Because he is appalled by bankers' bonuses, salaries and stock options. Because business practices and loans have left the economy of the Western world in ruins. Because you're sick of your money for arms dealers and dictators. Oh, and also stung for £ 25 last month when he was a few pounds over your overdraft limit.

money moving

said: "Banks are not bad, but despite receiving the largest taxpayer-funded bailout in history, not much has changed banks continue to make money by lending socially useless and risky speculation, which leaves us. more exposed to the crisis, commodity bubbles and instability. "

not use notes compiled by Moody or the consumer magazine of Standard & Poor, but of ethics for banks rate. Barclays wins "ethiscore" of only 0.5 out of 20 (Standard & Poor gives A +). But it gives 13, 20 and Co-operative Bank, Triodos Bank and 15.5 to 20 to 16, Bank of Charity. He also likes the unity of the Bank, a specialist in the accounts of organizations, not individuals.

What do they offer? The only ethical bank offering a current account Co-operative, despite several building societies have also treated. Co-op account Standard offers the usual services free of charge if you stay in the dark. Their ethical commitment is now 20 years, covering human rights, environment, international development and animal welfare.

Triodos Bank agrees to lend money only to companies who make the world a better place - from wind farms to housing projects. He promises full transparency, which allows applicants to see where the money went.

Bank funded charitable social enterprises, charities and community organizations, and promises a "financial return and social impact."

What should I go?


ethics states that "cooperative approach" for "clarity and ambition" in banking ethics, names and a best-buy an ethical current account. Co-op has a score high in customer satisfaction. He finished second to lead the first in the annual JD Power survey in 2011. He was also named best current account provider 2011 by Moneysupermarket. However, its cash ISA pays interest modest 0.5%, but Isa has a fixed rate of 3% in the payment of dues Britannia. The good news is that? rate of Charity Bank cash Isa ethics, paying 2.5% , a best-buy, while Triodos pays 2% on your cash ISA. Isas higher levels pay only 3%, so switching means investors lose little to soothe his conscience.

two credit unions

Why should I change? Aa credit unions are huge in countries such as Ireland, USA and Australia, but have not taken off in a big way in the UK. However, in theory, should tick all the boxes for many people because they are nonprofit financial cooperatives owned and controlled by its members with no outside shareholders. All profits stay in the community and used to develop the body and provide a return for investors.

Their progress was hampered by restrictions that limited the adoption, but the new rules introduced last month allowing them to offer a more efficient alternative to banks, on the one hand, and lenders Payment and expensive payday loan sharks on the other. For the first time, credit unions will be able to pay interest on their savings. And they no longer have to demonstrate that all people are capable of binding to have something in common.

There are just over 400 credit unions in the UK. They are regulated by the Financial Services Authority and covered by the Financial Services Compensation Scheme (FSCS), so the first £ 85,000 of savings of a member are completely safe. Some go out of business - about seven left in the last year, and at least two have collapsed so far this year. They tend to be minor players, and most people get their money by the FSCS within seven days.

What do you suggest?

main products are savings accounts and loans. However, about 25 (including Bristol and London Credit Union Community Credit Union, which serves residents of Hackney and Tower Hamlets in London) offer checking accounts, and a handful (including Glasgow and Scotwest Credit Union, which serves those living or working in the West of Scotland) mortgages offer. A number of insurance products offer ISAs little money and prepaid cards.

Aa credit unions

pay a "dividend" instead of interest. However, being able to pay the interest should be given new impetus to the systemic circulation.

three construction companies

Why should I change?
All building societies are mutual , which means they are owned by their members. Many of them have a strong regional identity and linked to their local communities. The sector is dominated by the giant-national of one - which is larger than the other 46 companies altogether. Some believe that national and little different from other major banks, and the Ethical Consumer magazine criticizes the "remuneration of directors of the excessive." But overall, the strong corporate ethos is rewarded with a score of 13, compared to 0.5 Barclays account.

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