Formation of the Occupy Bank Working Group

Posted by & filed under Assemblies, Past Proposals.

We would like to request to have ratification of our Working Group status placed on the agenda for tomorrow’s GA.

The Occupy Bank is a sub-group of the existing Alternative Banking Working Group, facilitated by Cathy O’Neill. We have been working since early October on conceiving and establishing a democratic, transparent financial institution for the 99% that would be plausibly competitive with the existing banking system, with the long term goal of replacing the current banking system altogether.

We work closely with the Alternative Banking Working group, but the Occupy Bank group wishes to be recognized as a formally separate working group so that it is easier to publicize our meetings on the NYCGA website. Many people are interested in our work, but have to go indirectly through the Alternative Banking Working Group first.

We meet at 7:00 PM every Wednesday either at 45 East 20th street, or at 9 Bleecker Street, depending on availability. With a central NYCGA website, we will be able to publicize information like this more easily for interested participants.

We have made serious concrete progress over the last six months and believe that recognition as a separate working group will help us in our mission to create a new institution to replace the existing banking system for the 99%.

13 Responses to “Formation of the Occupy Bank Working Group”

  1. sumumba

    so how is this different than the alternative banking group? and are we talking about starting a actual ‘bank’ or credit union? if so im all in… :)

    • DirekConek (aka Dallas)

      Occupy Irvine is a couple steps ahead on that, @sumumba occupyfcu.org – maybe collaboration is in order?

  2. sumumba

    i heard there was a OCCUPY BANK in San Francisco too… we need to BUILD some INSTITUTIONS at OWS…this is a good idea i say and maybe it will help with fund raising/resources… who knows…

    • Brian McKeown

      Yes there is…in the works, we are called Peoples Reserve Credit Union…I am the Founding Organizer and would like to be put in contact with Cathy and others leading the charge in NY…Power to the people!

      • sumumba

        great work Brian…i LOVE the whole ‘POWER TO THE PEOPLE’ as long as those people don’t steal from the bank or credit union..we need QUALIFIED, honest and COMMITTED folks to be part of this efforts…TOTAL inclusion won’t work with a BANK or CREDIT union…im sure the ‘Peoples Reserve Credit Union’ HAS figured this out and hope u all can teach us how to better manage any future monies we get…

  3. Lucy

    This is an excellent idea! I heard the radio broadcast with Cathy O’Neil and I think, with a little effort ,it can really get off the ground and become something useful for a lot of people who do not have direct access to a credit union or community bank. There are a great deal of expertise will be needed for its creation so they will need a lot of help.

  4. sumumba

    this could work but for HEAVEN’S SAKE can we PLEASE CREATE some BETTER than any banking or credit institution/system than we have now?

  5. Darrell Prince

    Institutions! Gasp! We should tear down institutions and live in mud huts. Institutions don’t work, because, like building a lean to, and having it knocked down by a hurricane means building structures is worthless, waste of time, one bad situtation means there was never a reason to do that thing in the first place.

    And we are ready to convert everyone over to a moneyless society, right, now, today.

    or not.

    • sumumba

      amen brother…lets ALL be EQUAL in poverty….no classes, no money, no need for food, schools or shelter…. :)

    • DirekConek (aka Dallas)

      Clearly you simply lack the massive brainpower to understand that the only solution is to rediscover fire and reinvent the wheel, @alg0rhythm ! :D

  6. Darrell Prince

    Yay own bank, and yes, there are much better structures for banks, I have a lot of thoughts on them, and have not gotten down to their meeting… so looking forward to it.

  7. Darrell Prince

    They should Occupy Amalgamated Bank Space… aka SIS.