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News Now

CU System
Fresno faith-based group helps move 750K from banks
FRESNO, Calif. (7/25/12)--A Fresno, Calif.-based faith group has led the transfer of $750,000 in deposits from Bank of America, Wells Fargo, Citigroup, JPMorgan Chase and Goldman Sachs in the Fresno, Calif. area.

Faith In Community, an interdenominational group, joined with Occupy Fresno to transfer the funds to local communities through credit unions and small banks, the groups said.

A San Francisco faith coalition moved $10 million from Wells Fargo in February, and more groups joined the movement during Lent.

About 50 people rallied at St. Anthony Claret Catholic Church in Fresno Monday. They held signs with names of people who have transferred or will transfer their money from big banks to credit unions or local banks in the Fresno area (Fresno Bee via Thinkprogress.org July 23).

As a result of Bank Transfer Day, Nov. 5, credit union membership grew 399,721--to 93,052,509 from 92,652,788--during the fourth quarter of 2011, according to the Credit Union National Association.

Faith groups were among the biggest activists, moving $55 million from Wall Street banks before last Thanksgiving.


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