Bank Transfer Day: CU Experts See Mixed Blessing in More Deposits
If more people transfer their accounts to credit unions it could be a mixed blessing for some credit unions. However, that’s a challenge credit unions would be glad to worry about.
Credit unions may have to find ways to invest the money they would receive from new deposits that could come on or around the so-called Bank Transfer Day on Nov. 5. That could be a challenge because of low interest rates and caps on business loans, according to several industry experts.
