Occupy movement wants to start a financial institution

DAN MCMENAMIN/ Bay City NewsA group protesting the policies of the Federal Reserve

DAN MCMENAMIN/ Bay City NewsA group protesting the policies of the Federal Reserve

Call it the First Bank of Occupy.

The denizens of the embattled tent city on San Francisco’s Justin Herman Plaza have been pushing for folks to close their accounts at big banks and put the money in credit unions instead. Now, the movement wants to form its own institution to keep their money out of the hands of the reviled 1 percent.

A survey circulating Facebook and other social networking sites asks some simple questions that occupiers hope will relay the demand for such a credit union when the results are sent to the state’s Department of Financial Institutions.

The effort, which will be detailed at a meeting on Wednesday at 4:30 p.m. at the camp, is indicative of Occupy SF’s movement toward more initiative in solving some of the issues it has raised, according to Occupy member Shon Kae.

“People in the Occupy movement in general are starting to want to be more creative and more problem solving,” Kae said. “There has been too much appealing to banks and governments to do what they now want to change themselves.”

dschreiber@sfexaminer.com

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