Occupy Founders Aim for 2013 Opening for People’s Reserve Credit Union
Occupy movement activists in San Francisco first announced plans for People’s Reserve Credit Union, an in-the-works cooperative designed to serve local communities and take a stand against the city’s for-profit banks, in November 2011. The project is now well under way, with board and advisory committee meetings taking place and fundraising initiatives scheduled, said Brian McKeown, an Occupy leader who is spearheading the People’s Reserve CU project.
According to organizers, People’s Reserve CU has met the California Department of Financial Institutions’ requirements for a new credit union and will soon apply for certification. A California DFI spokesperson said the department has spoken with a People’s Reserve CU representative but has not yet received an application.