Citizens were riled up against big banks after the 2008 Global Financial Crisis. Cries of “Move Your Money” encouraged all of us to bank locally and divest from the Big Banks that crashed our economy, ripped off homeowners, and got bailed out at taxpayer’s expense. The crisis came to head in 2008, but the contrast between the big banks and community banks harkens farther back. Back at least a far as the story in the classic Frank Capra film It’s a Wonderful Life, where community banker George Bailey helps the people of Bedford Falls escape the grip of the rapacious and predatory banker Mr. Potter
If enough people move their checking and savings accounts from one of the Big Banks into smaller, more local, more traditional community banks, then we, the people, can rebuild our financial system into a productive, stable engine for our local economy. The issue is neither Left nor Right, Liberal nor Conservative — it’s populism at its best. We, the people, put our money into our economy.
Although the hubbub has mostly died down, the point is still true: It matters where you bank. The Gunnison Valley is fortunate to have two very solid, very local banks that serve our community in so many ways. Both Gunnison Bank & Trust and Gunnison Savings & Loan are trustworthy banks committed to our local economy.