Happy Bank Transfer Day. Or happy Guy Fawkes day

Posted on November 5, 2011


Four hundred and six years ago this day on the evening of November 5th 1605 a group of provincial Catholics led by Robert Catesby and Guy Fawkes tried to blow up the British Parliament.  While the plot was foiled by an anonymous letter, today the plot is known as the gunpowder plot because enough gunpowder was found in the parliament building to bring the house down. That 30 barrels of gunpowder was guarded by Guy Fawkes, who was later hung, drawn and quartered. It was later proved by blowing up a full scale mock-up of the house of parliament – all the way down to the 7 foot deep walls, that if the gunpowder had gone off, it would have brought down the building and killed everyone in it. It was also on this day, November 5 that the king of England was scheduled to open the session of Parliament. Had the plot been successful, it would have killed the king,  everyone in the building and caused damage for a hundred meters in all directions. This day, the foiled plot is celebrated all over the world with bonfires and fireworks.

More recently the image of Guy Fawkes has been adopted by the hacker group anonymous as well as the occupy movement – both as a symbol of anonymity and  bringing the house down. One of the elements of bringing the house down planned was that wall street banks were bailed out while the rest of Americans were sold out. It was planned that on this day, November 5, 2011 Americans nationwide were urged to divest themselves of the “too big to fail” and start paying less for banking by banking with a credit union or a local community bank.

Today is not only Guy Fawkes day but Bank Transfer Day. Your own personal investment in bringing the house down is to change your bank to a member owned, nonprofit credit union. The National Credit Union Association reports that over 650,000 Americans have opened an account with a Credit Union in the month of October 2011 in anticipation of today. According to the NCUA, more people opened more accounts in October 2011 than in any whole year in history.

Are you banking with a credit union? Shouldn’t you be banking with a credit union?