Where's your money?

Friends, an easy step toward democratization of the economy is moving your money to a credit union. So let's say July 14th is Fediverse Move your Money Day!

In Japan this has been an important part of the fossil fuels divestment campaign by 350.org. When you choose a credit union, ask them about their investments (you'll probably be the first one to ask).

Please boost

@Matt_Noyes How is a credit union more democratic? I don't vote on the CEO of my local credit union

@dualhammers There should be a periodic member vote on the board of directors, who probably appoint the CEO. Depends on the bylaws. @mattcropp knows much more about credit union governance than I do.

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@dualhammers @mattcropp Like any membership organization, it is up to the members to make it a functioning democracy. I admit that democratizing my credit union is not at the top of my list, but the difference between my lame credit union and Wells Fargo, for example, is massive.

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@Matt_Noyes @dualhammers Yeah, there can be a large gap between whether something is structurally democratic and it having a functioning democratic culture/set of practices.

Most credit unions in the US drifted away from the latter after Federal regulation was implemented in the 1970s for a complex set of reasons, but there are still openings to exert meaningful influence with some effort - which was how I cut my teeth in co-op movement activism. ;)

@Matt_Noyes @mattcropp have you done the due diligence to know that is true or are you assuming that based on it being a credit union?

The Franklin Credit Union was the backing bank for a massive pedophile ring. They had credit union board votes and all the trappings of democracy but clearly were not.

Point being I think it's wise to not make blanket assumptions here

@dualhammers @mattcropp corruption can happen in any institution and the sex ring thing is a hoax, right?

@Matt_Noyes @mattcropp The sex ring thing is not a hoax.

The grand jury indicted one of the victims after the DA convinced them it was a hoax. The people she and others accused have connections to the CIA.

They made sure a grand jury called it a hoax so they could print that in the papers. The Wikipedia has been locked down because Court reports and NYT articles are more important than victims stories.

The parallels with Epistein are, well, not a coincidence.

@Matt_Noyes @mattcropp That DA, after getting them to indict the victims instead of the perpetrators, went on to work in the U.S. Govt under the people the victims accused.

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social.coop

A Fediverse instance for people interested in cooperative and collective projects.