Today, November 5th is National Bank Transfer Day. As part of the Occupy Wall Street movement, thousands of other concerned citizens like you will be taking their hard earned money and transferring their money into community credit unions or banks. How does this affect you, your money and your community?

First off, there is no real data showing the kind of affect this movement will have on "Too Big to Fail" Banks such as Wells Fargo and Bank of America. But the idea is to teach these banks a critical lesson in ethics, sending a message from conscious consumers that they won't support companies with unethical business practices.

The personal benefit of switching your money into a community bank or credit union is that you will experience lower fees and higher interest rates.

Also, your local bank or credit union most likely has a tremendous impact on the sustainability and the health of your community. These local institutions give loans to small businesses, provides investment opportunities and provides the flow of energy and wealth within your community in which you live. Just by investing into your local bank or credit union you make your community a more joyful and abundant place to live.

Here are a list of local places you can transfer your money to in order to account for a healthy community and a health financial relationship with your bank.

1. Philadelphia Federal Credit Union

Philadelphia Federal Credit Union is a not- for-protfit financial institution owned by members and not by stockholders. Therefore they pass their earning onto you, their members once you join their Credit Union. You just have to live, work, worship or study in Philadelphia or Columbia county.

They have no monthly service fee, no minimum balance requirement and no fee to use your debit card when you select “Credit” at checkout. Plus, you’ll receive access to PFCU’s Free* Electronic Bill Payer, free eStatements and 24/7 account access online or by phone. Not to mention, your PFCU Check Card is covered by Visa’s® Zero Liability Policy so you’re covered against unauthorized use of your card. 

2. SB1 Federal Credit Union

SB1 Federal Credit Union is a not- for-protfit financial institution owned by its members. Membership is limited to only people living, working, attending worship or school, within certain Philadelphia area zip codes.

Rather than existing with the first priority of providing a profit for stockholders, as is the case with many banks, Credit Unions like Sb1 exist with the sole purpose of providing the most value possible to their membership. In other words, our only stockholders are our members. 

3. American Heritage Federal Credit Union

American Heritage Federal Credit Union ranks among the nation’s top performing credit unions for value and personal service. American Heritage proudly offers Totally Free Checking with No–Fee Debit Cards. They also offer lower rates on loans, higher rates on savings and fewer and lower fees. 

These are just three Philadelphia based Credit Unions you can choose to transfer your money into today. Hopefully we can give these "Too Big to Fail" banks a lesson in ethical business practices and that we as conscious consumers aren't taking their arrogance lightly.