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

Bay Area NewsLocal

Just Posted

Cyclists and runners move along JFK Drive in Golden Gate Park near the de Young Museum and the Music Concourse on Tuesday, May 11, 2021. (Kevin N. Hume/S.F. Examiner)
Your chance to weigh in: Should JFK remain closed to cars?

City proposes a host of mobility improvements for Golden Gate Park

The Hotel Whitcomb on Market Street was one of many hotels that took in homeless people as part of The City’s shelter-in-place hotel program during the pandemic.<ins> (Kevin N. Hume/The Examiner)</ins>
Closing hotels could disconnect hundreds from critical health care services

‘That baseline of humanity and dignity goes a long way’

Dreamforce returned to San Francisco in person this week – but with a tiny sliver of past attendance. (Courtesy Salesforce)
Dreamforce returns with hundreds on hand, down from 170,000 in the past

High hopes for a larger Salesforce conference shriveled during the summer

The remnants of trees burned by the Dixie Fire near Antelope Lake, Calif., on Friday, Sept. 3, 2021. (Christian Monterrosa/The New York Times)
California’s wildfires invisible effect: high carbon dioxide emissions

This summer California fires emitted twice as much CO2 as last year

Latinos are dying at a lower rate than white and Black people in California. However, Latinos have had the sharpest increase in the death rate in the last month, rising from 2.4 deaths per 100,000 people in August to 4 per 100,000 in September. (iStock)
Who’s dying in California from COVID-19?

In recent months, those who are dying are younger

Most Read