Philadelphia Federal Credit Union: stand up to the big banks
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We salute the Philadelphia Federal Credit Union, and the positive role it plays in our economy. We count on the leadership of PFCU to provide a quality community-oriented alternative to the big banks. However, we want to count on you for more—we want you to be our hero and stand up to the big banks.
We are concerned that inaction on your part at this moment in history will become complicity. For example we are disappointed by your inability to harness the energy of Move Your Money, your silence while Wells Fargo mishandles $4 billion of city money, and your disinterest in managing the city money, resulting in dollars flowing out of the community.
We know that you can do better and, as your members, we stand ready to help. We invite you to:
• Take a clearer and stronger position as an alternative financial institution;
• Recruit more aggressively to withdraw members’ accounts and mortgages out of the big banks;
• Reconsider your decision not to bid on managing some of the City of Philadelphia’s money;
• Increase priority lending to local, community economic institutions such as co-ops and land trusts; and
• Opening your governance to be strengthened by increased member involvement.
We are so glad you are here, and look forward to being part of an even stronger PFCU, as we all work together for the well-being of our community.
Move Your Money Philadelphia
Get more information on the Move Your Money campaign at: www.moveyourmoneyphilly.org