Move Your Money Campaign Having Unexpected Impact, According to Huffington Post Staff

The Move Your Money campaign was initiated by the Huffington Post and has inspired nine percent of Americans to transfer their money to smaller banks.

I recently emailed Arianna Huffington with questions about the statistics of the Move Your Money campaign, an initiative she and other Huffington Post staffers began in December of 2009 in order to bring down “too big to fail” banks and support small community banks.  Tonight, she responded, and referred me to Julian Hattem, who is leading the campaign.

Just how many people have moved their money from big banks to community banks in response to the campaign?

Hattem said that a recent Zogby poll showed that nine percent of Americans have moved at least some of their accounts to protest the big banks.  The Huffington Post site has had about a million unique visitors, he said, and almost all of the zip codes with a bank branch have been searched using the tool on their Web site.

“What’s more, a number of state and local governments had started catching on to the Move Your Money bandwagon, and legislatures in New Mexico and Minnesota have explicitly cited the campaign in proposed measures that would prioritize local banks for dealing with state deposits,” Hattem said.  “So the campaign is going somewhere we didn’t even expect it to, and it’s just getting bigger.”

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