WMBFNews.com | Myrtle Beach/Florence, SC | News, Weather, SportsOnline program takes hold on big banking

Online program takes hold on big banking

(WMBF) - Fed up with big banks and bailouts, many Americans have begun taking their money from Wall Street to Main Street. Now, a grassroots campaign is hoping people will begin to put their trust in smaller, community-based banks.

The "Move Your Money" campaign is an online effort for those who want to ditch the world of commercialized banking for a more toned-down financial future. Those who use the program have the names of community-based banks with the click of a mouse.

While 81 percent of failed banks in 2009 were community chains, only those with a "B" rating or above from the IRA will be listed.

Campaign President Tom Hood says efforts like moving investments and money from a big chain to a smaller bank signifies a return to what banking should be at a time when it's needed the most.

"In today's issues, it should be about empathy," he commented. "A lot of people are going through some very, very tough times."

Hood admits the campaign may not do any monetary damage to big banking, but instead, holds fast that the campaign is proof power of the people is alive and well.

"They can't jerk anybody around anymore," said Hood. "They have to give some personal service."

In the three weeks since the campaign took off the ground, banks in more than 16,000 zip codes are listed.

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