03/21/17 1:43pm

In early February the Seattle City Council voted unanimously to divest from Wells Fargo Bank because of its financial backing of the Dakota Access Pipeline in North Dakota. While your checking and savings accounts may seem paltry compared to the assets of the 18th largest city in the U.S., moving your money to a credit union is an incredibly effective way of investing in your local economy and taking your hard earned dollars out of the hands of corporate interests.

Large corporate banks like Wells Fargo, Chase, Citibank and TD Bank use customers’ deposits to invest in a wide range of ventures, some of which are risky, divisive and take money outside of the communities where customers live. We’re talking an oil pipeline that threatens drinking water and Native American sovereignty; we’re talking mortgage-backed securities; we’re talking investments that you the consumer are never consulted about and may never know about, in companies and with entities you would never intentionally support.

Unlike so many thorny political and financial issues of conscience though, there is a good answer for this dilemma: Join a credit union.

“It’s like shopping local,” says Michael Mattone, the vice president of public relations for Municipal Credit Union. “We’re the shop local of banking.”

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02/03/17 10:56am
This book dispenses common sense money advice for parents to pass along to their kids. Photo: Simon & Schuster

This book dispenses common sense money advice (like “don’t raid their piggy banks!”) for parents to pass along to their kids. Photo: Simon & Schuster

Last year when I was complaining about the cost of getting my car towed, my young son said, “Don’t worry! I can pay for it. I’ve got a cash register full of money!” I quizzically watched as he pulled out his Learning Resources toy register hidden under a pile of stuffed animals and old Lego pieces. Although we bought that toy for him in hopes of teaching him about the value of money and learning about interest through imaginary play, he had actually just assumed this was real money collecting dust in his bedroom. Epic fail.

Make Your Kid A Money Genius (Even If You’re Not), a new book by Beth Kobliner (author of New York Times Bestseller Get A Financial Life) is here to hold parents hands as they wade into uncharted conversations about cash with their kids. Beyond just receiving early entry to Stern Business School, financial talks can prevent spoiled behavior, build charitable leanings and set kids up for secure futures. Kobliner divides the book into chapters ranging from “Insurance”, “Giving Back” and “Saving for College” and further divides her chapters into age ranges. Talking to your preschooler about investing will look different than with your teenager, but from the start you can build some pretty strong scaffolding for the importance of financial security. (more…)