I’m closing my Washington Mutual account soon.

I’ve never had much sympathy for big banks but with the latest turmoils at Wamu, see here, I decided to give my money to a local Credit Union. And why not?

After 4 decades of banks telling the government to not interfere, the latest Wamu problems has pushed them to ask for help after lending money to dubious people. How can I trust a bank that does that? When I worked in real estate I saw how wrong it was pushing loans into most people’s hands when clearly they didn’t have much to show for. If at my little level I can see that, I would expect my bank to be wiser.

I opened an account with a local credit union with a checking account that earns money with the minimum on it being $50. After all, it is my way of saying enough is enough. It is also my way of investing directly into my community.

Our banking system is out of control and after being part of the mess we are in, they don’t need my money. If they are being bailed out because of their mistakes then this will be done without my help. Surely, no one would give me that break if I was in that situation. My, how empowering!