Credit unions were expected to benefit from Bank of America'snew $5 monthly debit fee but one Phoenix executive said he is stilltaken aback at the 20% increase in new member accounts his creditunion has seen.

“I'd say our online account activity has seen as manyapplications over the weekend as it usually processes in a week,”said Paul B. Stull, senior vice president-strategy/brand at the$1.2 billion Arizona State CU. One branch also saw a 50% spike, hesaid.

During the big bank bailout of 2008-09, “a lot of peoplegrumbled and we had the Huffington Post 'move your money' campaignand no changes seen but this time it's different,” observed Stull.

Members moving their accounts now mention both BofA and WellsFargo which instituted a smaller $3 fee, the Arizona State SVP said.

Fifty percent of the new account activity at the 121,000-membercredit union's Prescott Valley Branch in northern Arizona was“related to BofA, with new members mentioning them,” Stullsaid.