DeFund the Pipelines - Divest RVA
The divestment movement has already moved nearly $75 million from the banks funding the Dakota Access Pipeline. Major cities like Seattle and San Francisco have responded to public pressure and committed to moving their own accounts from DAPL funders, and there are campaigns underway in New York, Los Angeles, Washington DC, Albuquerque, and Raleigh too. But many of the banks that are funding the Dakota Access Pipeline are also funding the Keystone XL and Mountain Valley Pipelines. Let’s let them know that we don’t want our money to fund harmful fossil fuel infrastructure projects!
Close your accounts with banks lending to the Mountain Valley and Atlantic Coast pipeline projects. Wells Fargo. SunTrust. Bank of America.
When you decide to move your account from a large megabank to a community bank or credit union your money stays local and help your community. Here's a helpful checklist, as provided by the Institute of Local Self Reliance:
Move Your Account Checklist
If you decide to move your account from a large megabank to a community bank or credit union -- and we hope you do -- here's a helpful checklist, as provided by the Institute of Local Self Reliance (and reprinted here with permission)
1. Open Your New Account
In most cases, you should be able open a checking account with an initial deposit of $25 to $100. At a credit union, you'll also become a member and co-owner at the same time.
2. Order New Checks and an ATM/Debit Card
These typically arrive within 1 to 2 weeks. You should also consider applying for a credit card from your new local bank or credit union at the same time.
3. Ask Your Employer to Reroute Your Direct Deposit
When you open your new account, ask the bank or credit union for a direct deposit authorization form that includes your new account information. Give this form to your employer and anyone else who makes direct deposits to your account. It may take one or more pay cycles for the change to be made, so keep your old checking account open and watch for the switch.
4. Contact Companies that Direct-Debit Your Account
Using your last bank statement, make a list of any businesses that you've authorized to directly debit your account. Ask your new bank or credit union for an automatic payments authorization form that includes your new account information. Send this to the businesses on your list.
5. Set-up Online Bill Paying for Your New Account
If you like to pay bills online, set up bill payment information for your new account. Also, stop any automatic, recurring payments you have established through your old account.
6. Close Your Old Account
Once you have started receiving direct deposits into your new account and are sure that there are no outstanding checks or automatic debits that need to clear, close your old account using our sample bank breakup letter below. Warning: do not just withdraw the last dollar and assume the account will fade away on its own. Your old big bank may start charging you fees for having an empty or inactive checking account. Instead, follow the bank's procedure for closing out the account. Take a picture and post to our Facebook page: www.facebook.com/RVADivest/