Nov. 5 has been proclaimed Bank Transfer Day. This publicgroundswell against Bank of America's $5 debit fee is a truenational movement that aligns well with the credit union missionand credit unions need to hitch themselves to that wagon. Is yourcredit union prepared?

On Oct. 10 CUTimes.com started covering credit union connectionwith Bank Transfer Day. On Oct. 17, following CUTimes.com articlesbeing picked up by Gawker and social news site reddit.com amongothers, 'Bank Transfer Chatter Goes Global; CUNA, NAFCU Cite SiteSurges' received nearly 25,000 unique page views that day–a recordfor a single CUTimes.com article by far. As you can tell by theheadline, credit union search sites created for consumers alsoenjoyed increased traffic.

Interest in Bank Transfer Day definitely exists but what willactually transpire on Saturday, Nov. 5 remains to be seen.Hopefully your credit union has adjusted your advertising topromote itself in connection with the day.

Taking place on a Saturday could pose a problem for many creditunions; consider opening Nov. 5 if you don't have regular Saturdayhours or you'll alienate these new potential members rightaway.

Be absolutely sure, whether your branches are open or not, thatyour website can handle the potential uptick in traffic fortransferring accounts. Again, credit unions cannot afford to tickoff these people who are already angry about their financialservices.

Those that do open locations Saturdays must ensure you haveproper staffing and extend hours of operation. You know your fieldof membership best. If you believe there could be increased lobbytraffic, beef up staffing. Making members wait in long lines wouldbe a huge mistake if you only have one or two tellers or MSRson.

If you're as prepared as possible in that capacity, be sure tohave water bottles on hand and coffee brewing to make the wait morebearable. Managers and others not working account transfers cantake the time to get to know their new potential members.

Having a sales-service culture in place will shine at times likethis. Bank Transfer Day represents consumers' anger at the $5 feeon debit cards but for financial equilibrium, credit unions needloans, too. Employees must be ready to listen to the financialproducts these folks have and want that they may not realize theywant to transfer from other financial institutions.

Ask members questions in small-talk fashion to see if they mayalso be better off refinancing their car loans or credit cards withyour credit union as well. According to Foolproof, credit unionssave a bank customer $1,000 on average for an existing auto loanwhen they refinance. They save a customer 3-5% on a credit cardbalance when they move a credit card, which amounts to hundreds ofdollars for most cardholders.

To fully take advantage of Bank Transfer Day, balance out sharesand loans to maintain appropriate asset liability management.

Local media outlets are scrounging for local angles and creditunions must take advantage. Credit unions should be prepared totalk to Anytown Gazette's attention. Provide examples ofhow the credit union has helped local people, businesses and theeconomy. It puts your brand in front of potential members andlabels your CU as a bona fide expert by an independent thirdparty.

Talk about how credit unions work for their members, not just aprofit which is why you don't have to charge a debit fee. And thendon't! It's very important to follow up on a promise like that. Youdon't want to spark a Credit Union Transfer Day.

The timing is ripe for me to reiterate tips on dealingwith the press.

1. Tell the truth. Enough said.

2. Know and respect deadlines. Deadlines apply to onlinenews.

3. Develop relationships with the press. First find out whichreporter would be most interested in what you have to offer. Thenspecifically ask the reporter for a few key topics he or she isinterested in or trends being followed. Offer up your ownobservations or provide a heads up, on- or off-the-record. Meet upfor coffee to build trust in a more relaxed environment.

4. Send press releases but don't overdo it, and don't relysolely on them. Aim for quality over quantity. You will becompeting with all the noise in journalists' professional andpersonal life. Clearly and concisely explain why your news orperspective is unique. Live action photos or graphics demonstratinga trend are nice.

5. Know your target audience. Stories should be pitcheddifferently to a trade publication than you would your local radiostation. Both might be interested in a topic but for differentreasons.

6. Know the terminology. Articles are news stories written bythe publication's writers; opinion pieces, or op-eds, are writtenby outside sources on some topic of interest to the readership.

7. Don't shy away from commenting when there's bad news. Newsdoesn't die just because you don't talk about it. The only way toget your side of the story into the media is to tell it. So yourcredit union lost money on subprime mortgages–explain how you'rerectifying it. Readers seeing, “Mr. Smith declined to comment,”immediately assume the worst.