The Move Your Money campaign was started by American university students who are encouraging their universities to shift their investments from corporate giants to local financial institutions. Similar campaigns are ongoing in other US cities such as New York and Los Angeles.

More and more Americans are abandoning corporate banks and moving their financial business to local credit unions and banks. These local institutions stimulate business activity in communities by providing loans to local businesses. Local financial institutions tend to be more willing to help local business. Moreover, the structure of credit unions as non-profit cooperatives means that their members are the shareholders and decision makers.

Most local financial institutions offer almost identical services to big banks, but fees and rates are usually lower for members. In 2008, credit union members saved $9.2 billion by doing business with their credit union instead of with a bank.

The movement, backed by Arianne Huffington (MoveYourMoney.info) and Rob Johnson of the Franklin and Eleanor Roosevelt Institute, is gaining popularity. This is because Americans are increasingly incensed by exorbitant bank executive bonuses and rising interest rates and bank fees. Bankers seem unable to recall that their entire industry was saved from ruin by American taxpayers.

The Move Your Money campaign seems destined to gain in popularity as American continue to vent their frustration at the banking industry.