This post can also be found on my other blog, The Cheddar Path. Although I haven’t posted on the Path for awhile, I have started the new year off by doing so and will try to do so in a more regular fashion for the 3 people out there who actually read this blog and then are so nice as to read another blog by yours truly. I have added a focus on managing one’s personal finances to The Cheddar Path as well, because I have discovered and believe that managing one’s finances in a healthy way is connected to the struggle for truly empowered, self-reliant communities. I don’t claim to be any kind of financial expert, but personal finance from a progressive perspective is quickly becoming a big interest of mine, especially in recession 2009 America, and I simply wish to share any useful tips I pick up along the way with others. Holla!
BofA, the Employee Free Choice Act & Credit Unions
Recently, after receiving $25 billion in federal bailout funds, Bank of America hosted a meeting with members of the business community and conservative activists to discuss sending “large contributions” to groups trying to defeat the government’s proposed Employee Free Choice Act, which would make it easier for workers to join unions. So, Bank of America is using our tax dollars to stop a bill that would help grow the middle class and put more money in the pockets of hard working Americans? Sounds pretty shady to me.
Think what you want about labor unions, but the fact is that across the board, from industry to industry, union job wages are on average 15% higher than non union wages, as well as being beneficial for a host of other reasons.
It’s hearing about stories like these that really make me want to stop supporting the huge commercial banks. I currently bank with one of them, but am strongly considering moving my money into a credit union or community bank, which is much more beneficial to my local economy. MSN has a great article laying out all the benefits of going with a credit union.