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>Move Your Money movement celebrates community banks

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>Residents and small business owners in Northwest Connecticut have known for a long time the value of our local community banks.

Now there is a nationwide movement urging people to support community banks by switching their deposits from mega-banks such as Bank of America, Citibank and Wells Fargo.

“…since April, JP Morgan/Chase, Citibank, Bank of America, and Wells Fargo — all of which took billions in taxpayer money — have cut lending to businesses by $100 billion,” Arianna Huffington and Rob Johnson said in a column announcing the Web site www.moveyourmoney.info, which helps consumers search for community banking options.

No searching necessary here … If you’re down with this concept, consider supporting Torrington Savings Bank, Northwest Community Bank, Litchfield Bancorp or First National Bank of Litchfield, and in the Farmington Valley, Collinsville Savings Society, Simsbury Bank and Farmington Savings Bank.

And don’t forget the credit union option – a very good one – including Northwest Hills Credit Union, Torrington Municipal Teachers and Federal Credit Union and Hartford Federal Credit Union.

With each of these local financial institutions, you can have confidence that money stays local and is reinvested in the community.

And if you have a problem, you can know that the top decision makers are accessible. They are your neighbors. They are involved in community organizations and serve on local boards.

The whole concept of “Move Your Money” is at the very least an opportunity to be grateful for what we have in this region in terms of solid community banks.

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Written by mattderienzo

February 17, 2010 at 8:31 pm

Posted in Uncategorized

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