Occupy SF Wants to Create a Credit Union – Credit Union Times

Occupy San Francisco said it filed pre-Thanksgiving paperwork with the state to charter a proposed People’s Reserve Credit Union. Legislative aides to two members of the San Francisco...

Occupy San Francisco said it filed pre-Thanksgiving paperwork with the state to charter a proposed People’s Reserve Credit Union. Legislative aides to two members of the San Francisco Board of Supervisors, Eric Mar and John Avalos, who have been active in Occupy confirmed their bosses “support the c

Occupy San Francisco said it filed pre-Thanksgiving paperwork with the state to charter a proposed People’s Reserve Credit Union.

Legislative aides to two members of the San Francisco Board of Supervisors, Eric Mar and John Avalos, who have been active in Occupy confirmed their bosses “support the credit union concept” as a counter to big bank exploitation, though one said “we haven’t seen all the concrete details” on the planning for People’s Reserve.

Officials in the offices of California Secretary of State Debra Bowen and the California Department of Financial Institutions said they had not seen any applications from the group.

“But if they filed the incorporation papers last Tuesday, it would take many days before we would see them come through,”said a spokeswoman for Bowen.

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