Ever notice all the big posters all over the place from the big banks that show someone with a dog grooming salon or a cupcake shop who couldn’t have done it without Wells Fargo or B of A? Well, I can tell you firsthand that you would certainly get laughed out of any of the big banks if you asked for money for such an endeavor. So why do they bother advertising for something they don’t do? Is it all just P.R.? Maybe they can’t make loans because all their money is tied up in bogus ads. I don’t know.
Anyway, we at Chop Bar are generally supportive of financial justice, but not so interested in camping in front of City Hall. So seeing as our big bank has taken a huge bailout but still refuses to invest in our community, we’ve been looking for a way to use whatever power we have to support a more ethical financial system. That’s why we are moving our money to a community bank.
Torrey Pines is a San Diego based bank that has merged with local bank Alta Alliance. They have a good track record of lending to small businesses and non-profits, and also support local charities like Go Oakland Public Schools. They’re definitely not “Too big to fail.” We’re hoping that, because they are a relatively small bank, they will be more accountable to us, their other customers, and the community,
Here’s a link to a site that can suggest some good banks and credit unions near you:
If even, let’s say, 10% of small businesses moved to better banks, I think it might make a big difference. I can definitely guarantee that it feels awesome. Care to join us?