Become a digitalPLUS subscriber. 99¢ for 4 weeks.
BusinessConsuming Interests

Saturday's Bank Transfer Day nets credit unions 40,000 new customers

FacebookBank of America Corp.

Last Saturday was Bank Transfer Day, the deadline created by campaign on Facebook for bank customers to switch to a credit union.

The Credit Union National Association, which surveyed 1,110 of its members, says credit unions around the country reported adding a total of 40,000 members on Nov. 5th. The new members also that day deposited $80 million in credit union savings accounts. Meanwhile, credit unions reported making $90 million in new loans on Saturday.

In the weeks leading up to Bank Transfer Day, about 650,000 people joined credit unions and deposited $4.5 billion in them.

Credit unions should send Bank of America a dozen roses. The bank’s plan to add a $5 monthly debit card fee next year caused an uproar and encouraged a 27-year-old gallery owner in California to come up with the Bank Transfer Day.

 

Copyright © 2014, The Baltimore Sun
Related Content
FacebookBank of America Corp.
Comments
Loading