LOS ANGELES (12/11/13)--Social media strategist and cooperative activist Kristen Christian will write a monthly question-and-answer column focusing on the credit union movement.
The impending launch of Christian's column was announced Monday on GoBankingRates.com--the website that will publish it (GoBankingRates.com Dec. 9).
Christian, who lives in Los Angeles, will discuss the difference between credit unions and community banks--focusing on the fact that credit unions are, by definition, non-profit cooperatives, and that no credit union has ever been bailed out with public funds.
Community banks, meanwhile, are largely for-profit institutions that can be sold to big banks, said her first column. Opening savings accounts with them doesn't confer any ownership on account holders, and community banks accepted taxpayer financed bailouts during the savings and loan crisis in the 1980s and the subprime crisis last decade, she wrote.
In 2011, Christian shot to prominence within the credit union movement when she launched National Bank Transfer Day--a movement that encouraged customers sick of big banks' fees to become credit union members. After National Bank Transfer Day occurred on Nov. 5 of that year, more than two million people joined credit unions.
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