What Bernie Should Do About Banks

Nationalization (an alternative spelling is nationalisation) is the process of taking a private industry or private assets into public ownership by a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being transferred to be the state. The opposite of nationalization is usuallyprivatization or de-nationalization, but may also be municipalization. Industries that are usually subjected to nationalization include transport, communications, energy, banking and natural resources.

The Danger: Reverse Privitization occurs when state-owned assets are privatized and later nationalized again, often when a different political party faction is in power. A renationalization process may also be called reverse privatization. Nationalization has been used to refer to either direct state-ownership and management of an enterprise or to a government acquiring a large controlling share of a nominally private, “Public company”.

To Prevent This:

A credit union is a member-owned “Financial institution” cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members.
Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with assets worth several billion US dollars and hundreds of thousands of members.”Mutual organization” and cooperative banking.Public enterprise building societies.

Credit unions are “not-for-profit” because their purpose is to serve their members rather than to maximize profits. But, unlike charities and the like, credit unions do not rely on donations, and are financial institutions that must perforce make what is, in economic terms, a small to remain in existence. According to the World Council of Credit Unions” revenues.

“Credit Unions “are, according to paragraph eleven of the German law of cooperatives, ‘merchants’ as defined by the common code of commerce. They accordingly form a sort of commercial business enterprise of which the owners are the Credit Unions’ members”.

The countries with the highest percentage of credit union members in the economically active population were Ireland (75%), Barbados (72%), St. Lucia (67%), Belize (65%), Grenada (59%), Trinidad & Tobago and Jamaica (54% each), Canada (46%), Antigua & Barbuda (45%), and the United States (44%). Several African and Latin American countries also had high credit union membership rates, as did Australia. The average percentage for all countries considered in the report was 7.5%

Credit unions often form cooperatives among themselves to provide services to members. A Credit Union Service Organization (CUSO) is generally a for-profit subsidiary of one or more credit unions formed for this purpose. For example, CO-OP Financial Services, the largest credit union owned interbank network in the US, provs an ATM network and shared branching services to credit unions. Other examples of cooperatives among credit unions include credit counseling services as well as insurance and investment services.”This claim needs references to reliable sources. (January 2012)”>

State credit union leagues can partner with outside organizations to promote initiatives for credit unions or customers. For example, the Indiana Credit Union League sponsors an initiative called “Ignite”, which is used to encourage innovation in the credit union industry, with the Filene Research Institute. The WCCU is both a development agencya>. The WOCCU’s mission is to “assist its members and potential members to organize, expand, improve and integrate credit unions and related institutions as effective instruments for the economic and social development of all people”

Self Help Credit Union:
Self-Help Federal Credit Union was chartered in 2008 to build a network of branches throughout California serving the state’s working class families and communities. We provide fair and affordable basic financial services as well as home loans; community facility loans; and personal loans, including auto, citizenship and small dollar loans.

Self-Help Federal currently has some $600 million in assets and 20 branches in California. We also have three branches in the greater Chicago area operating as our Second Federal division. Altogether, we serve over 80,000 people.

Credit Unions should be State, Federal, and Municipal, with laws preventing Re Privatization. Also applying the 10 Amendment Illegalizing Banks permenantly.

President Jackson broke up the banks on to be restablished later.



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