Opinion
 

Staff Editorial

Matthew Dulin    Geronimo Rodriguez      Cara Sarelli          Lisa Street

Put down the money

Everyone hates bank fees. They creep up on you in the form of fine print and seize money that banks would not have the right to touch save for the fact that theyire holding your money.

Banks might be able to incorporate these fees whenever they want, but that doesnit mean accountholders have to keep their mouths zipped. Furthermore, the campusi Woodforest National Bank failed to take a lot of things into consideration when it decided in February to charge student organizations $5 every month their balances drop below $1,000.

First of all, the bank should have realized it was dealing with college organizations, which might have a hard time keeping more than $1,000 in their accounts. Being on a college campus means dealing with student needs. Is the bank attempting to teach a lesson in finance while students are juggling the cost of school, bills, food and gas? Or is the bank testing its muscle, hoping student organizations will keep their mouths shut?

Speaking of keeping quiet, Nick Somarakis, president of the UH College Democrats, started a letter-writing campaign and student petition in efforts to push the bank to eliminate the fee and bring back free checking ? the feature is another thing the bank failed to consider before it acted. Like Somarakis said to The Daily Cougar, the new policy just invites student organizations to cut off their accounts with Woodforest and sign up with another bank ? one that doesnit charge unnecessary fees.

True, students havenit heard the bankis side of the story. But, without a doubt, itis not as sad as the stories student organizations will be telling when all their funds have been sucked up by the fees.

Somarakis said more than 120 organizations have signed his petition, and when it comes to taking studentsi money, thereis no doubt the rest of the groups will follow. Just think about it: $5 a month turns into $60 a year. That money could be used for school activities, a (cheap) textbook or even 12 decent meals (courtesy of Jack in the Box).

In other words, that $5 a month is valuable to students and their organizations.

What would students lose if they followed Nick "The Greek" and protested the new fee? If the bank doesnit want to back down, then students can take their money and walk out of the bank. The students who donit think the $5 will hurt them much should buy a round and say cheers to greedy banks.

The rest should whip out the almighty sword, sign Somarakisi petition and put up a fight before going down like a chump.

Send comments to dccampus@mail.uh.edu