Bank Transfer Day: Opportunity and Preparation
Nov. 5 has been proclaimed Bank Transfer Day. This public groundswell against Bank of America’s $5 debit fee is a true national movement that aligns well with the credit union mission and credit unions need to hitch themselves to that wagon. Is your credit union prepared?
On Oct. 10 CUTimes.com started covering credit union connection with Bank Transfer Day. On Oct. 17, following CUTimes.com articles being picked up by Gawker and social news site reddit.com among others, 'Bank Transfer Chatter Goes Global; CUNA, NAFCU Cite Site Surges' received nearly 25,000 unique page views that day–a record for a single CUTimes.com article by far. As you can tell by the headline, credit union search sites created for consumers also enjoyed increased traffic.
To fully take advantage of Bank Transfer Day, balance out shares and loans to maintain appropriate asset liability management.
Local media outlets are scrounging for local angles and credit unions must take advantage. Credit unions should be prepared to talk to Anytown Gazette’s attention. Provide examples of how the credit union has helped local people, businesses and the economy. It puts your brand in front of potential members and labels your CU as a bona fide expert by an independent third party.