What a cosmic joke.

They are going to protect their clients from all of the 'risks' of dealing with the established banks, and the "U.S. economy"...but they are dependent upon the same Federal Reserve System that we all are. Until they establish their own currency (which is illegal), they offer nothing. This is like giving up Starbucks, for your neighbor's kid's lemonade stand....

Not to mention that they have promised FDIC insurance: "To get FDIC insurance, which the cooperative promises, which bank will the Occupy Money Cooperative team up with?"

Losers, pretending that they aren't....

Did anyone else catch that they are 'raising money', not 'raising capital'?
Are they going to be using gofundme.com or doing real capital presentations for real investors. If they can't get the language right it doesn't bode well for being able to actually run a successful business. Perhaps they're planning ahead for a fair share law to give them a bank.

Anyone who has ever run a business would know that providing all of the services promised will cost a heck of a lot more than 99 cents per month per user...

Hilarious.. they have no understanding whatsoever of the cost involved in conducting financial transactions. They need to print and mail the cards, not to mention replacement cards, they have to staff a call center to handle issues, put up a website, hire an IT staff to build a secure infrastructure for keeping track of the cards and transactions, pay one of the major credit card companies to place their logo on their cards, there are fees for declined transactions, possibly from the merchant's bank, and much much more. If they ever get through all of these problems successfully, they will end up with the exact same product all other banks have. This stuff doesn't just grow on trees.

Nothing teaches like experience. I wish them well. Just a couple of notes:

1. It is NOT illegal to have your own currency. See here:http://www.michigancoinclub.org/Baybucks.htm

What is illegal is having your own COINS as MONEY - serious technicality in the law - though you can have your own TOKENS in coin-like form, and many entities (such as casinos) do.

2. While credit unions are defined by a membership population, that can be simply locale; such community area credit unions do exist in several states.

Again, I wish them well for the same reason that I salute Michael Moore as a successful capitalist.

Okay so first of all... *sigh*. It would be funny but the guy in the video is so sincere. :/

Second, please excuse my novice understanding of banking but I honestly want to work through how this *could* work. (Could it?) First the Occupiers get donations to fund "staff and other operating expenses". Assuming that actually happens, then they begin issuing prepaid debit cards. Members pay 99 cents a month in fees, and otherwise they have the "prepaid" amount on the card available at all times, with no room for overdrafts. Here's the main question - how will the Occupy credit union (co-op, whatever) continue to fund its staff and operating expenses (building lease, utilities, etc.)? Doesn't seem possible to me, unless they have tens of thousands of members.

Now to Eudaimonia's point three - how SHOULD this be done?