I used to belong to a gay credit union in Dallas. But it folded. I had a gay credit card from Florida. But the CEO got himself indicted. I've tried looking at the Gay Financial Network, but it doesn't seem too helpful. Anyone know of gay friendly financial institutions ?
Erm... Sorry if I'm ignorant, but I don't quite get what you need a gay bank for? Your money doesn't have much to do with your sexual preferences, does it? Only reason I can think of is there may be less discrimination. But then again, why should a "normal" bank inquire about your sexual orientation? Another question ... can straight people use gay banking? "Show me your gay license first, please." Hehe.
that's really funny that they have homosexual banking. Kind of stupid in my opinion. However I don't know much about the whole banking thing
I won't lower myself by starting off with a line such as, "What I find stupid is how you idiot posters can find the concept stupid!" That goes without saying and is unnecessary. Banks and financial institutions invest funds in which they are entrusted. It would seem somewhat evident that such a financial institution would place monies where our best interests are served. For example, they can invest in companies that support gay rights and gay unions. They can invest in organizations that work with gay legal issues. They can invest the money in AIDS research. Banks can do lots of things with money. If organized crime is offering big returns or if there is the possibility of soundness in investing in the Middle East, such investments would be done without a second thought. I believe it is important to be supportive of our personal interests, and my being gay is a very personal interest!
Thanks a lot for explaining! I don't know much about banking and stuff, so thanks for clearing this up. PS: I never said I found the concept stupid. I just wrote I didn't understand it.
Lighten up Duncan, many of the folks at this board are younger or have such limited funds that it never occurred to them that their finances matter. The idea of placing your money in a financial institution as being a political act it new to many of us. But thank you for explaining it. I belong to a local Credit Union with a very pro GLBT stance. Since the Credit Union is owned by the members, or folks who have accounts, it's like a Co-op. The members elect a board and have input on policies. Also the fees are lower and the services better than at a regular bank or financial institution. You may find another Credit Union which is as gay as your last one without the title. Check out the Rainbow Card, it's been around for a while. Let us know what you find that works for you. .
Duncan, you're two for two in gay financial institutions going bust, that would give me pause for concern. It does sound like a great idea to invest/deposit in a gay friendly banking institution, yanno keep it in the "family". ;-)
agreed. duncan, thank you for clearing that up. As I stated, I don't know much about banking. I shouldn't make negative remarks about topics that I know nothing about. However, even with this information, I personally wouldn't choose a bank because of a personal interest, such as homosexuality.
It sounds like a great idea, but I have to agree with hipunk about the track record of the gay financial institutions. I want my money to do some good, but I haven't got much of it and the safety and security of my money is a very big concern for me. Most LGBT folks who want their money to do good things are also concerned about other issues as well: poverty, peace, racism, etc. There will probably never be a perfect bank that satisfies all of those concerns. Good luck in your search!
I dunno. This just sounds like yet another way for the homosexual community to SEGREGATE themselves from society. Shouldn't we be working on INTEGRATION? I can understand wanting to know where one's money is going, but to create this separate world really frightens me. Gay banks, gay schools, gay this, gay that. Of course, I wouldn't bank with a "straight" bank either, or a white bank, or black bank. To segregate like this is the same to me as de-evolution. We're going backwards, people. And a bank will only invest in something that can make them money back, so I can't see too many banks, gay or otherwise, investing in AIDS research as there's no financial gain to be seen.
Exactly... NOT I couldn't disagree with you more. I have no problem with the gay community's not integrating into the main fabric. Investment is not strictly limited to gay membership, however it is believed that interests of the gay community can best be served by such organizations. Sorry dudes, but I grew up with the concept of contributing to organizations that foster and nurture my needs (which are not always individual ones). They include illnesses (lung cancer, muscular dystrophy), religious organization affiliation and in this case a fraternal organization. As for the Rainbow Card... I appreciate the fact that it is out there, however it is offered by MBNA and I do not trust that financial institution's agenda.
Gay people are not integrating with everyone else, and it isn't entirely the choice of gay people. It's not that we always choose not to be included, but that we don't always get that choice.
