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| Royal Bank of Canada's previous logo (the crown was removed). (Photo credit: Wikipedia) |
In 2007,
according to McLean's Magazine, the CEO of the
Royal Bank
of Canada took home over
$44,000,000.00
But this
year, (although his salary has increased since
'07),
the CEO was
not a happy camper.
There was
still some loose change out there.
So he and
his henchpersons found a loophole in Canadian
law that
allowed them to fire a bunch
of Canadian bank workers
and replace
them with foreign workers who would work for peanuts.
But one of
the Canadian workers blabbed to the CBC and soon
the news of
corporate greed was spread across the land.
As outraged
as most other Canadians I phoned the bank.
"Other
banks do it too," said the Service rep.
Right.
I suppose
he thought I'd go away happy when I heard that.
Instead I
began the long process of disengaging from the
Royal Bank.
I joined a
Credit Union.
It has
taken quite a bit of my time because I bank online
and have my
bills withdrawn electronically.
And the
dust won't settle on the whole process for a few months
I'm sure,
but the hardest part is over.
Losing my two
tiny little bank accounts isn't going to bring RBC
to its
knees.
But I'm
standing taller today.
6 comments:
You're a woman of principle, Francie. A credit union is a great choice here. Probably the only choice.
I've been with a credit union since 1998. Most of their office are in or around military bases. I opened an account with a local bank when I got back to NY. They were part of certain scheme and I, too, my wee-poor-woman account.
Like you said, I know that my leaving them won't do anything to their wallet, but it makes me feel better. And who knows, if a few millions of tiny accounts leave them, too, maybe they huge wallets would get smaller...
Francie, good for you for standing by your principles.
Too many of us just grouse, and take no action.
I think credit unions now offer most of the services of the banks. They used to offer higher interest rates on savings accounts, too. Maybe they still do.
Good for you, Francie! Banks have become so greedy that it makes me sick.
"Other banks do it too," Why not do better than those other banks?
Good for you Francie! I was appalled when I read all that in the news.
A credit union you say? I wonder what that is all about? I will have to look into it!
You go, Girl! I love your passion and your action! I'm so tired of the greed! These people are like parasites feeding off the people who do the actual work! 44 million a year isn't enough? Give me a break!
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