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Amy Cross's picture

cross-posted to womenmakenews.com

The Huffington Post’s Move Your Money Campaign is urging people to leave Citibank, BofA, and the like. Why? Because, the BIG Banks got BIG TARP money from the government and are about to pay out BIG bonuses. With squat for the little people—too many of whom are out of jobs, insurance and unemployment checks.

Huffington advocates moving your accounts to community-based banks or credit unions, which she argues are more likely to invest and help local businesses. The appeal has been answered--over a thousand people have signed the pledge to switch.

But why not go one better, and move your money into a woman’s bank?

The Big Banks of the Bailout certainly don’t have many women partners who will benefit from the Post-Tarp largesse. They certainly don't make a point of supporting women- and minority-owned businesses as these institutions below do.

Of course, there aren’t many woman-owned financial institutions—less than a half dozen. And wouldn’t you know, two are in Minnesota--which is always the progressively cool state.

If you’re lucky enough to live in the following cities, you can switch now to these woman-led banks.

St. Paul, MN                    Bank Cheroke    https://www.bankcherokee.com

Hopkins, MN                  Citizen’s Independent Bank  http://www.bankcib.com/
Robbinsdale, MN
St. Louis Park, MN
Plymouth, MN

Milwaukee, WI               Legacy Bancorp     https://www.legacybancorp.com

Los Angeles, CA             Promerica Bank     www.promericabank.com

If you’d really not entrust more money to white men, the government keeps a database of minority-owned institutions—meaning women and African-American, Hispanic, etc. If you have the patience, you can scroll through this small list and find an institution near you:

http://www.occ.treas.gov/minority.htm

However, that list needs updating:  The Adams bank, once the largest minority-owned bank got bought this fall and is no longer women-owned.

But, there is also a woman’s bank in Iraq, although it's probably not covered by FDIC.  So up to you.

Help me crowdsource a bigger list:  If you know of any others, please list in the comments below.



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