In this episode Jason Sole talks about how the banks are in fact becoming an outdated monetary establishment. The very way that a bank works is becoming very out dated.
The North Dakota pipeline access project is a perfect example of where a big oil company is trying to trample over the rights of people for its own gain. The pipeline was a huge project miles long and it was going to be very damaging to the environment. However the Indian people stood up against to the big corporate bully which was supported by the government. The response of the people was brilliant and many protests were organised against the dominance of the oil company. There was a viral video that went up and featured a banker that withdrew his funds from the bank and put it into a savings union instead.
The option to choose the savings union is one that should be taken by empowered people because the will in turn be the owners and shareholders of the company and will not be dictated to. A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services. Because credit unions are not banks they actually care about their clientele and shareholders. So this means when decisions are made that the shareholders will be involved and not left out. There is a massive element of inclusion involved with members of credit unions and so the organisation moves as a unit in unison not. Whereas a normal bank may make decisions in secret from its shareholders and cover things up, it is actually the opposite of what the credit union would do. Transparency is the name of the game with unions and so that means all things can be worked out at any point.
By joining company credit unions, you can save money on banking fees. They offer core services such as savings accounts, auto loans and checking accounts. And some credit unions are branching out to community members to become an alternative to banks. One example is California-based Alliance Credit Union.
The days of banks being able to rip people off are truly over and the people have woken up and a revolution is beginning. Will you be part of the revolution or will you remain behind in the dark ages being dictated to by banks?
Links: http://www.bbc.com/news/business-42655716 , https://www.investopedia.com/terms/c/creditunion.asp, https://www.businesslive.co.za/bd/opinion/2017-11-06-digital-revolution-in-the-banking-sector-propels-india-into-future/
By Alex Mitchison