First, I’ve decided that I will only talk about specific bank closings from this point on to the rest of the year only if a major bank of some kind is involved, or if there’s something specifically newsworthy about it. The number is now up to 123, and climbing

Instead, let’s talk about the latest thing some of these large banks that we probably should have just let collapse are doing. Citibank just announced that they’re now going to have a $7.50 a month fee on checking accounts with balances under $1,500. Bank of America did the same sort of thing, only they already had a fee and they’re raising that fee $3 a month.

Frankly, I’m thinking that it might be time for many people to start looking for different types of banks. For instance, there hasn’t been a single instance of a credit union closing this year, and maybe that’s the way for some people to go. Not everyone is qualified to join a credit union, but if you are, it might be something to think about.

Also, it might be time to start shopping around your area for a smaller bank, one that’s local, but also one that’s a bit more stable. Sure, many small banks have closed, but almost all of them have been absorbed by someone else, which means those banks must be somewhat stable, otherwise the FDIC wouldn’t have gone for it.

I’m so happy that my bank still have free checking. It’s relatively local, but not necessarily so small. And it’s across the parking lot from Chase, where every time I go in to pay my mortgage (which was assumed by them after my original lender and whoever had it afterwards closed their doors many years ago) I’m asked if I’d like to set up a checking account. Not happening; they have to be close in raising their fees as well.

Of course, in this economy, no one will probably be safe forever. That’s unfortunate, but it seems like we still haven’t reached our threshold yet.