Tuesday, April 16, 2013

"All The Banks Do It"

Royal Bank of Canada's previous logo (the crow...
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 



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.


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and have my bills withdrawn electronically.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.

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Debra She Who Seeks said...

You're a woman of principle, Francie. A credit union is a great choice here. Probably the only choice.

Magaly Guerrero said...

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...

Doug Jamieson said...

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.

Plowing Through Life (Martha) said...

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?

Pandorah's Box said...

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!

Fundy Blue said...

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!