Get SF Weekly Newsletters

Wednesday, February 29, 2012

Occupy SF Protesters Really Close to Forming People's Reserve Credit Union

Posted By on Wed, Feb 29, 2012 at 2:45 PM

Occupy has found something more productive to do than occupy
  • Occupy has found something more productive to do than occupy

While Occupy Oakland protesters are busy destroying the reputation of Oakland, occupiers in San Francisco have adopted a more thoughtful approach to attacking the 1 percent.

Remember last November when protesters, some of whom were affiliated with Occupy SF, announced plans to turn protesters into bankers with the creation the People's Reserve Credit Union? Well, they were serious -- so serious that they've already formed a nine-member board to oversee the credit union.

The Credit Union Times reports that Occupy is ready to start moving our money out of the big nefarious banks and into local interests in the form of micro-loans that will help the 99 percent.

"We hope to announce our board members by March 5, and it will include some well-known people in the community who we expect can help us get launched with $500,000 as a startup goal," Brian McKeown, a member of the proposed People's Reserve Credit Union, told the Credit Union Times.


McKeown, who lived in a tent at San Francisco's Occupy camp until police broke it down,  says he has been communicating with officials of the Department of Financial Institutions about the chartering for the credit union. However, an agency spokeswoman told the Credit Union Times that as of last week no paperwork had been filed.



Occupy SF has said it backs McKeown as a group, but noted that the People's Reserve "operates separately from Occupy SF." However, a number of Occupy SF protesters did come up with the idea for the credit union while occupying together at Justin Herman Plaza last year.

So, who will be the first to turn their hard-earned dollars over to protesters?

Follow us on Twitter at @SFWeekly and @TheSnitchSF

  • Pin It

Tags: , , , ,

About The Author

Erin Sherbert

Erin Sherbert

Bio:
Erin Sherbert was the Online News Editor for SF Weekly from 2010 to 2015. She's a Texas native and has a closet full of cowboy boots to prove it.

Comments

Subscribe to this thread:

Add a comment

Popular Stories

  1. Most Popular Stories
  2. Stories You Missed

Like us on Facebook

Slideshows

  • clipping at Brava Theater Sept. 11
    Sub Pop recording artists 'clipping.' brought their brand of noise-driven experimental hip hop to the closing night of 2016's San Francisco Electronic Music Fest this past Sunday. The packed Brava Theater hosted an initially seated crowd that ended the night jumping and dancing against the front of the stage. The trio performed a set focused on their recently released Sci-Fi Horror concept album, 'Splendor & Misery', then delved into their dancier and more aggressive back catalogue, and recent single 'Wriggle'. Opening performances included local experimental electronic duo 'Tujurikkuja' and computer music artist 'Madalyn Merkey.'"