Support Your Local Economy

The national economy is doing pretty well at the moment. Unemployment is hovering at around 4 percent at the time of this writing, which is really good. Some groups and job fields are doing better than others, and there’s certainly a debate to be had about if the jobs being filled are “good” jobs (that word can mean a lot of different things to a lot of different people). But in general, if people are worried about the state of the nation, it’s not because of the economy. However, it often seems like a few gigantic corporations have a lot of power over Americans. Most of us don’t have a choice regarding where to get our high-speed internet service. There are only a handful of phone companies left, and there may be even less soon if the rumblings of a merger come to fruition. Big box stores can come into town and really do a number on the locally-owned stores. When that happens, locals will have no choice but to shop at the big box stores, which is just what the gigantic corporations need to happen for them to gain even more power. Some people aren’t comfortable with this, and understandably so. There are at least a couple of possible solutions.

Switch Your Accounts

It’s one thing to go shopping at the family-owned regional grocery store chain rather than the gigantic chains. That’s something you can do once or twice a week, or whenever you need to buy groceries. But if you want something you can do that will impact your life every single day, then it’s time to close down your account at the national bank and move that money over to a locally-owned credit union like Consumers Credit Union. For one thing, credit unions often provide better rates and services to their members. They don’t have to answer to a board of shareholders; instead, they answer to its members. If you become a member, then you have a stake in how the company operates. There’s also evidence that locally owned businesses put more money back into the local economy than those big brand names. If you’re worried about finding an ATM when traveling, know that many credit unions will reimburse some or all of the fees its members have to pay at other ATMs. If the ethical conduct of the big banks makes you nervous, then banking with a local credit union can help you sleep better at night.

Protect the Environment

It may not seem obvious, but recycling can really help the local economy. Reusing items is cheaper and more efficient than creating new ones from scratch. It goes beyond paper and plastic, too. If your workplace isn’t already recycling its scrap metal, encourage them to contract with a local company like ASM Recycling of Mobile, AL. Speaking of energy, there’s been a lot of talk lately about how to bring coal jobs back. That ignores the fact that green energy jobs are more prevalent right now than coal energy jobs, and that trend probably isn’t going away anytime soon. According to a 2017 report from the U.S. Department of Energy, the solar energy business employed more workers than the coal, gas, and oil industries combined. A local economy that focuses on green energy has a brighter future than one focused on fossil fuels.