Some LIers switch to credit unions on 'Bank Transfer Day'

MINEOLA - Organizers of the online movement "Bank Transfer Day" designated Saturday as the day when people should pull their money out of big banks and switch to credit unions, and some Long Islanders have answered the call.

A group of protesters rallied outside a Chase Bank in Mineola today, voicing their frustration with large financial institutions that have been accused of failing to help small businesses after receiving a government bailout.

The "Bank Transfer Day" movement was launched on social media sites like Facebook in response to Bank of America's announcement that it will begin charging a $5 fee for debit card transactions.

"Big banks for far too long have mismanaged funds and utilized unethical business practices," says organizer Kristen Christian. "So it's time that we vote with our dollar and help restore our local communities."

Bank of America has since shelved the fee plan in response to public outage.

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