Move Your Money: Where Populist Fervor Meets Friendly FacesSubmitted by meekandmild on Tue, 01/26/2010 - 12:50
Huge bonuses to bank executives, casino-style financial practices and millions of unreturned stimulus dollars have made many consumers angry at the nation's biggest banks and looking for a way out.
Daniel Mica knows just where they should go. The president and CEO of the Credit Union National Association said in an interview with the Huffington Post that he hopes "the cold shock-wave" of populist fervor sweeps the financial system and leads customers to credit unions.
And consumers will find that switching won't just be an effective protest, it will also be a change for the better, he says. "At a credit union they treat [you] like a person, not a number," Mica said, because smaller financial institutions don't have the "dismissive arrogance" of the largest banks.