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POLL: Should Evanston Switch From Chase Bank?

After months of protest by Occupy Evanston activists, the city will solicit proposals from banks for a potential switch from Chase. Good or bad? Vote in our poll.

Six months after Occupy Evanston activists began protesting the city’s investments in Chase Bank, aldermen approved a motion to solicit proposals for a possible banking transfer at Monday's city council meeting.

For the past 10 years, Evanston has used Chase and First Bank and Trust as its primary banks, and the city currently holds more than 30 checking and money market accounts between the two. 

Members of Occupy Evanston met with city manager Wally Bobkiewicz within the last couple of weeks to discuss their request that the city divest its holdings in Chase Bank and other major banks. Among those requests are that the city choose a commercial bank, rather than an investment bank, and that the city find a bank that has a moratorium on foreclosures. 

Should the city switch from Chase Bank to a local bank? If so, what should the city be looking for in a new bank? Vote in our poll and share your thoughts in the comments.

William Guth June 29, 2012 at 09:51 PM
The city should do what's best for the city. If the city is in need of fast credit, a loan or other type of financial security, they may not be able to find it at another bank. That's probably one of the advantages of banking with a national leader in banking services and investments. It pleases me to know that the city also has holdings at a community bank. Could someone explain to me how or why it should make a difference where the city does its banking?
Patricia June 30, 2012 at 12:47 PM
Money talks. It sends a powerful message . If the City were to take millions from Chase it may send a message to Chase, or at least hurt the local branch, which may put pressure on Chase to re-examine its policies on foreclosure. Better yet maybe the Attorney General's office should criminally prosecute officers for breaking into and locking people out of their homes without a Court order. Maybe that would send the message to Chase and others. Just maybe Chase and others would operate within the confines of the law.
J C June 30, 2012 at 12:56 PM
Giving in to the demands of these people will set a dangerous precedent, Nothing of any value has come from this "movement". Our leaders need to do what is in the best interest of its citizens. Not some group of Ne'er-do-wells.

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