In March of 2011, Imagine Dynamic closed all accounts at Chase Bank, and moved to a local credit union.
In general, our decision was reached by reviewing the facts:
- The banks took taxpayer bailout money, and paid themselves huge bonuses with it.
- After posting record-breaking quarterly earnings, they decided to generate more income from the poor by increasing their minimum account limits to avoid fees.
- The banks then decided to try and generate more income by charging ridiculous fees for anyone who used a debit card.
All of these facts just seemed like an insult to America. The only action that made sense was to pull our money out of the bank and put it into a local credit union.
So far, our credit union has been better for us than our bank ever was.
We encourage other local business owners to make similar moves and put their money where it is appreciated.
