Information about Alternative Banking

The Alternative Banking Working Group of Occupy meets every Sunday from 3-5pm at Columbia University, in Room 409 (NOTE CHANGE!!) of the International Affairs Building at the corner of 118th and Amsterdam Avenue.

We are open to everyone.

We usually send out topics on Saturday and ask for more topics. To get on the list please email and request to be added to the email list for Alt Banking.

The format of the meetings are as follows:

  1. We list the topics and discuss them briefly to give people an idea of what they are.
  2. We vote for the topics to see who wants to discuss what.
  3. The top 4 topics (up to 6) are chosen, and we have two rounds of discussions in which people are free to choose whichever topic they choose.
  4. People take minutes and when the groups are large enough someone takes stack as well.
  5. After the two rounds, we have a quick summary of the discussions.
  6. The minutes are posted here after the meeting.

See you there!

4 thoughts on “Information about Alternative Banking

  1. I’d be interested in what you are doing with regards to developing community banking and creating alternatives (e.g., moving your money efforts). I’m in Chicago and active in the anti-foreclosure and eviction movement, working with Occupy folks.

  2. It?s actually a nice and useful piece of info. I?m glad that you shared this helpful info with us. Please keep us up to date like this. Thanks for sharing.

  3. In there is a section titled “Common arguments for and against Usury Laws” but all the arguments are against charging interest.

    Alternative Banking Working Group – OWS says: “There have been numerous arguments made over the years against the practice of lending money for a profit (that is, charging interest in excess of the principal of a loan)”

    BUT WAIT–interest in excess of principle doesn’t necessarily mean a profit is made by the lender because the majority of lenders have costs. I agree that there should not be profit in banking, even if there may frequently be profit in borrowing (borrowed money is often used for profit-making business purposes). But as I said, enough interest should be permitted for a lender to cover his costs for payroll, facilities, & whatever. That’s how non-profit banks and credit unions function. With respect, IMO this whole question — is ALL interest evil — is a red herring the left should stop revisiting once and for all.

    In solidarity,
    Poor Richard

  4. Dear Cathy:

    Looking forward to the Alt Banking session and discussion at CU’s IAB on 5-27-12. Thanks for your scintillating insights about the insidious machinations and nuances about the workings of this system as we know and feel it thus far.

    Sincerely, Ray

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