The Cheddar Path | A blog about economics, politics and personal finance

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BofA, The Employee Free Choice Act & Credit Unions

February 04, 2009 ( 2 Comments )

Recently, after receiving $25 billion in federal bailout funds, Bank of America hosted a meeting with members of the business community and conservative activists to discuss sending “large contributions” to groups trying to defeat the government’s proposed Employee Free Choice Act, which would make it easier for workers to join unions. So, Bank of America is using our tax dollars to stop a bill that would help grow the middle class and put more money in the pockets of hard working Americans? Sounds pretty shady to me.

Think what you want about labor unions, but the fact is that across the board, from industry to industry, union job wages are on average 15% higher than non union wages, as well as being beneficial for a host of other reasons.

It’s hearing about stories like these that really make me want to stop supporting the huge commercial banks. I currently bank with one of them, but am strongly considering moving my money into a credit union or community bank, which is much more beneficial to my local economy. MSN has a great article laying out all the benefits of going with a credit union.

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There are 2 Comments to "BofA, The Employee Free Choice Act & Credit Unions"

  • Debbie says:
    February 6, 2009 at 1:46 am

    Dear Cheddar,

    I’m canceling my Check, Savings, and Credit Card account with Bank of America tomorrow!!! I’m so heated, my tax dollars to stop Employee Free Choice Act?? Oh hell no. Those fuckers! (Sorry, is profanity prohibited on the Path?)

    Great Post ;)

  • KC says:
    February 6, 2009 at 3:10 pm

    Debbie,

    Freedom of speech is highly valued at the Path, have no worries about censoring yourself here. Hateful language, however, is not tolerated (don’t worry, I don’t view BofA as a “victim” being “oppressed” by your language).

    Thanks for coming through!

    KC

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