If you're not already aware, last Saturday was "Bank Transfer Day," on which everybody is urged to pull their money out of the Too Big to Fail Banks -- Wells Fargo, Bank of America, CitiBank -- and put those funds else. Most people are choosing to transfer their money to local, nonprofit Credit Unions.
I actually pulled my money out of Bank of America some time ago, and it now appears that a lot of people are doing the same. Something like $60 Billion was deposited into credit union accounts last month alone -- more than was deposited in credit union accounts for all of 2010.
And it may be that the banks have started to take notice. Just this afternoon I received a call from a local bank wondering if I was happy with their customer service and thanking me for being a customer. This vastly amused me, since I don't have an account with this bank (I sometimes do refinancings for them, so I think that I somehow got on their customer list by mistake).
And, of course, I have no way of knowing if the weird phone call I received had anything to do with people all over the nation pulling money out of their bank accounts. But I've never received a call like that from a bank before -- not even a bank that actually had any of my money -- and I'd certainly like to think that the banks are finally recognizing that the American people are putting them on notice.