Check this out! The Occupy Money Cooperative

[OneGrassRoot]

Last edited Sun Jul 21, 2013, 09:42 PM - Edit history (2)

http://www.occupycooperative.com/

Another Occupy-Inspired Innovation – The Occupy Card. A prepaid debit card by the 99% for the 99%.

Access to financial services is an important public service. It should belong to the public. Your support will help launch the coop and its first product, the Occupy Card.

The Occupy Money Cooperative will be owned and controlled by its members. Its members will consist of its customers. If you use its products, you will automatically become a member of the cooperative, with a voice in how the coop will be run, and what services it will develop.

It’s that simple.

Read more about the Coop on this site. This Coop is the start of something very exciting - a transformation of how we use financial services, who controls them, and who benefits from them.

It’s time to take the financial system back. Join the Revolution.


More About The Occupy Card

The Occupy Money Cooperative will provide people access to low cost financial services. The first service will be The Occupy Card. It's a low cost, full featured pre-paid debit card.

The Occupy Card will provide the basic financial services that people need and use on a daily basis without the cost, or the balances required for a regular bank account.
The Occupy Card will be an individual’s debit card, a savings facility, and a “virtual checkbook” all rolled into one easy-to-use package: a “bank on a card”.


The Occupy Card is an innovative financial product that everyone can use. There will be no upfront cost. The card will be 99c per month. --When was the last time you saw a cents sign for anything, let alone a financial service?

FDIC Safety - As the service is covered by FDIC insurance, Occupy Card holders get the same level of safety as a traditional bank account.

The Occupy Card provides everyone with a safe way to pay for items in stores or on the Internet, and a way to send your landlord the monthly rent check without getting nickel and dimed or building up debts.

The Occupy Card has a host of mobile apps and other services including mobile deposit capture of checks.

This card will directly tackle the concerns of the unbanked and the underbanked. Users of The Occupy Card will be able to participate in the cashless economy at a significantly lower cost.

The Occupy Card will be a highly useful, high-quality product, based on an innovative concept and platform. Many will see Card use as “A Protest with Every Purchase,” BUT, the card isn’t only for Occupy supporters. People who are unbanked, underbanked, and even just angry banked, will all benefit from using the Card because it is a better and cheaper product.



http://www.occupycooperative.com/

Interesting and potentially very exciting!

[RainDog]

1. k&r n/t

[99th_Monkey]

2. Cool man

[hootinholler]

3. Isn't this a credit union?

I don't know, but it seems very similar. Good on Occupy if they can get this going.

Couple this with something like bitcoin and it would really be something.

[OneGrassRoot]

5. I'm learning, too. I just added more content to the OP. :) n/t

[DeSwiss]

51. Yep, pretty much. :-) n/t

[Squinch]

4. This is the future! Yay!!!!! I'm IN!

[Zorra]

6. I'm in. Highly recommend! nt

[rhett o rick]

7. k&r thanks for posting.

[Marie Marie]

8. How long till the big banks find a way to shut this down?

Exciting indeed - hope it becomes wildly successful.

[GreenStormCloud]

35. What make you think that bankers aren't the ones bankrolling this?

OM has to get start-up capital somewhere. And the people putting this together have to know banking/credit union laws and regulations. I suspect these are some bankers trying to use the OM name.

[Blanks]

47. That's not necessarily true...

There could be people familiar with the system who just don't want to be a part of that world.

My concern is that this is a marketing tool. I expect there isn't a copyright on 'occupy'. Allowing anyone to fleece the supporters of the movement - simply because they want to support it.

It's long been my belief that if occupy is going to be around for the long haul - they are going to have to make their move into this arena.

When there was a lot of emphasis on buying American in the '80's and '90's, companies that shipped their manufacturing operations overseas tried to give their products decidedly American names Pittsburgh this, Chicago that etc.

I'm not saying that this isn't on the level, but before I support it - I want to be sure I'm not handing money over to an entity trying to cash in on the 'occupy' brand.

[cantbeserious]

9. Thank You For Sharing

eom

[Politicub]

10. I'll need to see the fee schedule before I start jumping for joy

The monthly fee for the card is .99, but how much does it cost to use at an ATM and how many epays will you get each month?

Is there a fee to load it?

[hwmnbn]

11. K&R.... I'm on board!

[BlueCollar]

12. I'm in

I'll toss a few bucks into the pot to get this started. Now all we have to do is find an insurance company that wants to follow thew same model...

[loudsue]

50. An insurance company to follow the same model...great idea!!

I'd sign up with that in a heartbeat.

[mick063]

13. Circumvent the overlords.

Bypass their system. Abstain from purchasing "golden parachutes" for Bankers that produce failure.

I love this idea.

Beware though. ALEC will work on passing legislation to kill it ASAP.


Edit: I just joined and am a member.

I use a debit card from my local credit union and pay cash for almost everything, so I don't see myself as really needing the service at this time. I will, however, keep tabs on their services and see how I can fit it to my lifestyle. If they require capital to extend loans, and the money is federally insured, I am tempted to place a decent chunk of money into a savings account with them.

I need to read up on this a bit.

[Waiting For Everyman]

14. Very cool! I'm in!

[defacto7]

15. I'm definitely checking this out.

if only experimentally it's something to try for sure.

[sabrina 1]

16. Excellent, Occupy is changing the world, they are so innovative.

[liberal_at_heart]

17. would I get approved even if medical bills have destroyed my credit?

I've tried credit unions and they said as long as I had bills that haven't been paid then I couldn't be a part of the credit union. My $925/month medical insurance premium prevents me from being able to afford my copay. I never pay my copay. They always go to collections.

[Egalitarian Thug]

18. It's a very reasonable fee-for-service debit card, not a credit card. $0.99 a month. n/t

[JNelson6563]

19. Brilliant!

[Zorra]

20. kick

[limpyhobbler]

21. cool.

A good step. Will consider getting this.

It still runs over the Visa network. Maybe some day we can run our own processing network instead.

But this seems like a fantastic step.

[Fantastic Anarchist]

42. This kind of reminds me of Proudhon's peoples' bank.

In some sort of fashion. His was evolutionary (building the new in the shell of the old) as opposed to revolutionary.

I like this idea.

[GreenStormCloud]

22. I already get all of that for free.

I get a debit card, no fees checking account, online access, online bill-pay, direct deposit, national ATM network (no fees) and if I do need to talk to someone face-to-face there is a local branch.

The bank also runs promotions in which I get cash back if I use the debit card at certain merchants. Mostly they are merchants that I don't use, but occassionally I do. It is nice to sometimes see a small, extra deposit show up,

Why should I leave a bank that is giving me all that for free to pay for a card that has less?

[OneGrassRoot]

23. I take it you're either not familiar with or not a fan of the Occupy Movement? n/t

[GreenStormCloud]

25. Why should I pay for something I am getting for free? N/T

[Zorra]

27. You really, honestly don't have any clue? nt

[GreenStormCloud]

32. You want me to use it, offer me an advantage to use it.

In entering competition with the banks, the Occupy Movement (OM) will discover that they will have the same problems that the banks do. They will have people who will be trying to take advantage of them. They will have employees to pay. They will have to find a way to make money to pay their bills, so like the banks they will have to loan out money. They will be governed by the same rules that govern banks and credit unions. IOW - They will become a credit union.

IOW, this plan is a group of bankers who are trying to use the OM name to market their product, and at a higher price.

I suggest that it is you who doesn't have a clue.

[Zorra]

41. The clue is: It is an alternative to supporting the system that crashed the world economy in 2008.

This may not be important to you, so, therefore, you may not see any value in it for yourself.

That's your right, and choice.

[GreenStormCloud]

49. They will be part of the world monetary system.

There is no way to avoid that.

[datasuspect]

24. it's a service offering

you're not under any compulsion to use it.

but there are tons of people who have various reasons for not using or not being able to use traditional banks.

[OneGrassRoot]

28. This certainly may not be a good option for many people...

even those who support OWS right now. I'm anxious to see what else they offer down the line.

I agree that, from a practical perspective, this most helps those who cannot get a bank account for any reason. And it may be attractive to those who can afford to be involved regardless of fees and features they current have via another bank or even credit union.

I haven't explored it further since I posted late last night. I need to learn more myself.

[Zorra]

29. Wow, it took them awhile to find this thread. nt

[OneGrassRoot]

33. lolol...yep n/t

[MineralMan]

31. What's next? Occupy Checking Accounts?

Occupy Home Mortgages?

Fascinating.

[Zorra]

39. Nah. We calmly replace the entire profit based system with a system wholly dedicated to providing

the highest quality of life for everyone in the country, and ultimately the planet, to the greatest degree possible.

Is this so wrong?

Some may not be pleased about this, particularly 1% of the population, but the overwhelming majority of people everyhere will be lovin' it.


http://occupywallst.org/

[MineralMan]

40. Yes, well, I read the information at the link.

This will be a Visa debit card, and will be offered through a bank. They haven't identified the bank yet, though.

Just because something says "Occupy" on it does not mean that it is not more of the same old banking stuff.

Do go and read the link thoroughly.

[Zorra]

43. "This is a new venture whose purpose is to offer excellent value, transparent financial services to

anyone.

Today, many people are either locked out of the banking system, or end up being charged excessive fees."

"Access to financial services is an important public service. It should belong to the public."

Apparently, you missed the part about how this differs from the same old banking stuff.

I think most people would agree that reading comprehension is a very critical component of reading.

[MineralMan]

44. No, I read that, as well. If I were writing that web site, I'd say the

same things. There's very little detail on that website about the mechanics of how this all works. I also read the info about the Board of Directors. In fact, I read the entire site, for what that is worth. I write websites for a living.

[L0oniX]

34. Walmart will get congress to stop this.

[GreenStormCloud]

36. Why?

The more people that have debit cards, the better things are for WM. WM is happy that few people use checks anymore, and that they don't have to have as much cash on hand as they formerly did. WM loves for people to pay with debit cards.

[L0oniX]

37. Uhm ...they have their own debt card they want people to use.

[GreenStormCloud]

38. WM has gift cards and a store brand CC.

CCs, even their own store brand CC, carry a risk for the store. Someone may run up a bill and not pay. With debit cards, WM gets paid. They are happy with debit cards. They make money both ways.

[Brewinblue]

45. Unfortunately, Occupy may be a little late with this card.

AMEX offers the exact same thing, but free.

http://www.bluebird.com

Personally, I'd rather my money be with Occupy, but I think the masses will feel safer with the AMEX brand name.

[Shankapotomus]

55. Yes, but in association with Walmart

Who wants to help Walmart? Not me and I'm sure not you or anyone at DU.

[Lifelong Protester]

46. Giving it a K & R for something to watch for

I don't know enough to be on board with no reservations, but I am interested enough to want to have future updates.

Off the "grid" and away with the corporatocracy!

[ZombieHorde]

52. I feel the same. Excited, yet cautious. nt

[Xyzse]

48. Interesting... I'd be very curious

Oh, it's a prepaid card? I don't know, those things have a bad reputation.

I mean, it is 0.99 per month, which is affordable, but for what?
To access the money that you pay in to it, to use for debit/credit card transactions?

I guess, it works a bit since many banks don't always provide service for some areas.
Thing is, what else does it provide? Does it provide a no cost check cashing service? Ability to deposit checks in to it, to make it act like a bank checking account?

I'd need more info.

[DeSwiss]

53. K&R

- There may be hope for cooperative banking after all.....

[Shankapotomus]

54. I'm tombstoning my bank

as soon as this launches! Big, Big K & R!

[Shankapotomus]

56. Bumping for exposure

They still need donations and it's critical that we set up an alternative to the corporate banks!

https://occupymoney.nationbuilder.com/donate