The following was submitted by a Pirate supporter using the pseudonym “Hoodlump”, advocating for and sharing money advice on how to move away from the banking system towards credit unions. This article is apart of the project “Message in a Bottle”, allowing supporters of the US Pirate Party to submit editorial articles to the United States Pirate Party website.

Remember when the legendary redditor “DeepF****ingValue” ignited the hilarious short squeeze against giant hedge funds in 2021, essentially teaching the masses that it is in fact possible to shake the ground under the financial vultures that we once thought were untouchable?

It seemed like everyone went from not giving those giant hedge funds much thought to suddenly and collectively becoming aware of sinister financial practices that were always present.

Many learned what hedge funds were, what short-selling is, who the stock exchange is really for (when RobinHood banned further purchases of the GME stock) and, most importantly, that collective action seriously makes waves.

Perhaps the most important takeaway is that the correct action in our time is going to be a financial one.

After all, to whom do each and every one of us, regardless of who we are in the workforce, must answer to? Who sits at the top of the chain of command?

Ultimately, it is the shareholder; the enemy to all humankind itself.

It took for me to land a job within a financial brokerage firm to learn one important thing about banks:

They have an alternative.

While banks exist as a for-profit enterprise, using the money we all deposit as their own investment capital so that the returns can be dispersed among the vultures that already own everything, credit unions are not-for-profit.

They work the way banks are intended: for community.

The “shareholder” is you.

Instead of investing your money in weapons, tobacco, private-owned housing, etc., the credit union is allowed to invest only in the ventures that another member takes up.

According to the Credit Union National Association, credit union members save an average of $179 per member (or $376 per household) annually simply by banking with a not-for-profit cooperative rather than a shareholder-owned bank.

[1] In addition to the moral imperative, banking with a credit union actually offers better financial incentives.

(Of course it does, right? When you remove the greedy shareholder, the money suddenly becomes available to you.)

CUs offer lower fees, better savings account rates (if you don’t already know, please learn about certificates of deposit), and better loan rates.

If you want to start a business, the CU will give you personal support, as they are more directly concerned with your success, as you are not an inconsequential borrower.

When I learned about this, I immediately made the switch. I want to tell everyone and their mother and father to do the same.

Actually, I want to scream it until everyone falls in line.

We should not leave one nickel in excess to be invested by the companies that are ruining our lives and our planet.

If you have a 401k, it is a bit harder to tackle but you should absolutely still take ownership there as well.

One day, I took a look at mine and saw it was absolutely littered with weapons manufacturers, big pharma and big tech companies, and while that’s not surprising, we should not accept that either.

Your 401k likely looks the same, and if you don’t have it in you to research 100 different companies to do an ethics check and reallocate your retirement funds, don’t be shy about getting someone on the phone to help you.

You don’t need your money to be sitting in the top 500 American Companies’ hands for your golden years to be secure.

There are generally other options, and if for you there are none, perhaps you can cease any further deposits from your checks and look for better ways to invest your money yourself.

We don’t need to be relying on this broken system anymore to take care of us, because it’s clear it isn’t even trying to take care of us.

In an endless mission to put individuals before institutions, it’s important to teach said individuals how to put themselves first. This is one way you can do that.

The onus has been on us a long time now. It’s time to stop being dismissive or careless about our money, and instead be skeptical, accountable, and as the jits say, standing on business.

Sources:

[1] Credit Human

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