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).

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@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.

@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. ;)

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social.coop

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