The Occupy Money Card

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The Occupy Money Cooperative will provide people access to low cost financial services. The first service will be The Occupy Card. It’s a low cost, full featured pre-paid debit card.

  • The Occupy Card will provide the basic financial services that people need and use on a daily basis without the cost, or the balances required for a regular bank account.
  • The Occupy Card will be an individual’s debit card, a savings facility, and a “virtual checkbook” all rolled into one easy-to-use package: a “bank on a card”.Occuy Card
  • The Occupy Card is an innovative financial product that everyone can use.  There will be no upfront cost. The card will be 99c per month. –When was the last time you saw a cents sign for anything, let alone a financial service?
  • FDIC Safety - As the service is covered by FDIC insurance, Occupy Card holders get the same level of safety as a traditional bank account.
  • The Occupy Card provides everyone with a safe way to pay for items in stores or on the Internet, and a way to send your landlord the monthly rent check without getting nickel and dimed or building up debts.
  • The Occupy Card has a host of mobile apps and other services including mobile deposit capture of checks.

This card will directly tackle the concerns of the unbanked and the underbanked.  Users of The Occupy Card will be able to participate in the cashless economy at a significantly lower cost.

The Occupy Card will be a highly useful, high-quality product, based on an innovative concept and platform.  Many will see Card use as “A Protest with Every Purchase,”  BUT, the card isn’t only for Occupy supporters. People who are unbanked, underbanked, and even just angry banked, will all benefit from using the Card because it is a better and cheaper product.

Who is Behind the OccupyCard?

Founding Board

The Occupy Money Cooperative is governed by a board of directors who will guide the development of the Coop in its early days.  Eventually, the membership of the Coop will vote for board members in a democratic and participatory procedure.

Carne Ross

Carne is a former British diplomat who founded and now runs the non-profit diplomatic advisory group,Independent Diplomat. He is also a writer and commentator on international affairs (and banking). A resident New Yorker, he founded the alternative banking working group with an announcement in Zuccotti Park.

Carne Ross is a trained negotiator, economist, and author. His latest book The Leaderless Revolution was published in 2011.  He blogs on international relations, the crisis of capitalism and banking.

Robert Hockett

Robert Hockett is a Professor of enterprise-organizational, finance-regulatory, and monetary law at Cornell University Law School, and has been involved with the OWS movement since its first weeks in Zuccotti Park. A Fellow of the Century Foundation and regular commissioned author for the New America Foundation,

Hockett also does regular consulting work for the Federal Reserve Bank of New York, the International Monetary Fund in Washington, Americans for Financial Reform, and a number of federal and state legislators and local governments. He holds advanced degrees from the University of Kansas; the University of Oxford, where he studied as a Rhodes Scholar; and Yale University. Following law school, he also clerked for the Honorable Deanell Reece Tacha, Chief Judge of the U.S. Court of Appeals for the Tenth Circuit.

Paul Ferris

Paul is an engineer, marketer and technology-expert with an international background in the financial services. His passion for new approaches in payments and investments have been applied by global financial firms and local micro-credit communities.  He has 20 years of experience as a businessman and entrepreneur, helping companies meet their obligations and improve their business by combining technology and decent marketing in large scale campaigns.

He is active on Board, management and community-level in charity initiatives; from building a land-mine hospital in Cambodia, to launching safe learning centers for poor kids, through to supporting Oxfam, Fairtrade and other initiatives tackling inequality.He spent far too much time at University flying hang gliders as well as learning about engineering, business and economics.

Christian Brammer

Christian trained as a banker – he did a full rotation through Deutsche Bank before becoming a longtime Director. Christian was also a Managing Director at Rabobank in London.

After growing estranged from wholesale and investment banking, Christian moved to the Adirondack Mountains where he spent the best part of three years designing and building a house for his family. More recently he has taught about capital markets at Skidmore College, and tried his hand at acting with a local theater group. He was also Director of Risk Management at Cornwall Capital, a successful short-side hedge fund, during the 2007 financial crisis. Currently Christian is working as a risk management consultant.

Cathy O’Neil

Cathy O’Neil is Senior Data Scientist at Johnson Research Labs.

Cathy earned a Ph.D. in math from Harvard, was postdoc at the MIT math department She was also a professor at Barnard College where she published a number of research papers in arithmetic algebraic geometry. She is co-authoring a book (with Rachel Schutt) called “Doing Data Science” to be published by O’Reilly in Fall 2013. She previously worked as a quant for the hedge fund D.E. Shaw in the middle of the credit crisis, and then for RiskMetrics, a risk software company that assesses risk for the holdings of hedge funds and banks. For the last couple years she’s been a data scientist in the New York start-up scene. She writes a blog at mathbabe.org and is involved with the #OccupyWallStreet Alternative Banking Working Group.

Ray Gillenwater

Ray is a former executive at BlackBerry and a current entrepreneur and investor. Ray has a passion for activism and is focused on disrupting inequality via technology. Apart from TOMC, Ray is focused on his own nonprofit, The Spark (www.thespark.org).  About The Spark:  The Spark is the counterbalance to corporations and governments that defy the public interest. Users post and vote on PROBLEMS that we face as a global community. The most popular problems are voted to the top. Users then post and vote on SOLUTIONS so that the community can take ACTION. Once The Spark reaches critical mass, the global community will have a voice that is too loud to ignore. Spark the change YOU want to see in the world. Public Beta coming in 2013.

  • richard foote

    Hi, i’m Richard from Australia. What an excellent initiative. I hope it can become an international card, available to us in Oz as well. Power to the people!!

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  • FichenDich

    Twelve bucks a year ($11.88 wisenheimer!) would be worth it just to make a committed statement. The old “put up or shut up” updated for the current era. Online petitions are all well and good, but…

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  • https://www.facebook.com/rich.hart2 Rich Hart

    I’ve been hoping that someone would do this ever since the 2008 crash. A very smart solution to a very complex problem. Here’s hoping it takes off.

  • chrislunnspeaks

    I’ve been around ‘investing’ and ‘speculating’ for pushing 4 decades. I have a request to this august group of folks. How is the little guy supposed to place faith and trust in a group of ‘manager/experts’ who all come from the depths of the rabbit hole that has victimized us all?

    Though I totally desire a ‘reasonable’ banking system, one that is not trying to make a penny, make a dime, make a buck via penalty and reduced service, I am hard pressed to not view this group as the next generation of usurpers spawned to stealthily do a bait and switch down the road.

    I truly apologize for coming across as cynical, but forty nine times bitten, I’m now dizzy with self hate due to how many times I’ve TRUSTED in ya’ll who touted, and I’m certain grew quite wealthy, the very system that wrought our present fiscal and social miasma.

    PLEASE HELP ME DISPELL THIS BURDEN OF MISTRUST!!??

  • https://www.facebook.com/kim.cooper.5623 Kim Cooper

    @chrislunnspeaks– maybe you should volunteer to be on the Board as our watchdog?
    Part of the answer is that it needs to be organized a in democratic way so that no one person can change the original aim of the organization.

  • https://www.facebook.com/kim.cooper.5623 Kim Cooper

    Actually, my question: is this national? when can I get one?

    • Kevin Zeese

      These are the early announcements, almost pre-announcements, so a lot of details are not yet known, but it looks like it will be national.

  • http://gravatar.com/deafbeg65 deafbeg65BEG

    I’m actually curious as to what kind of ATM availability this card will have? I assume a lot of stuff will have to be available/done online, and that you’re not going to have branches in every city for at least a while. So you’ll be using other bank infrastructure — and that leads directly to my ATM question — as we all know, that’s another type of fee the banks gobble hard earned money down with…

    Thanks for any answer.

  • Robert Hockett

    Thanks, All, for your comments and good wishes. We’ll work very hard not to let you down!

  • em

    My initial thoughts are the same as chrislunnspeaks.’ Would love for this to be as it’s stated butwhat oversight & controls will be in place?

  • Sophia Bright

    Where is the parity please? I agree this needs to be done, ASAP! It is a very important step in removing control of the money flow from the rapist Bankers. But surely you realize that a top heavy male-to-female ratio makes this look suspect, especially with an Occupy label on it. I am unaware of racial or ethnic background, but I am thinking this might also be a problem. PLEASE INVITE MEMBERS OF THE COMMUNITY TO JOIN. May I start by nominating Catherine Austin-Fitts, Carol Brouillet, or Debra Brown? There are numerous qualified individuals on display at OpEdNews. Rob Kall and Brad Friedman can probably steer you in the right direction. Including representatives from the NAACP, the Interfaith Council, the Unitarian Universalists, and other social justice organizations might extend your reach and improve your profile tremendously. I would also contact the Sovereign Nations Councils. There is a lot of money right there, and the likes of Tom DeLay and those other felons who robbed the First Nations people blind will give a strong motivation to remove as much of OUR MONEY from the Ripoff Nation Rapists’ greedy little hands. Hope you folks are on top of this. I have plenty more ideas. Those were for free, but my time and intellect are available at a modest rate if you want more.