The $1.1 billion Michigan Schools and Government Credit Union said it is opening up its nine locations on Bank Transfer Day to accommodate bank customers who want to make the switch.
The branches in Macomb and Oakland counties in suburban Detroit will be open from 9 a.m. to 1 p.m. on Saturday, Nov. 5, and new checking accounts will receive matching deposits of up to $25, the credit union said.
“Members will also proudly display their name on a wall alongside of others that have walked away from their bank,” the 66,000-member institution said.
“Bank Transfer Day is an opportunity for people to start setting it right by taking back control of their own money,” said Michigan Schools and Government Credit Union President and CEO Peter Gates. “We’re hoping that this day allows people to discover that credit unions are a better alternative to profit-driven banks.”
Gates added, “People are tired of fees. Times are tough enough and people should not have to pay unfair banking fees that can cost an upwards of $25 a month at some big banks just to access their money.”
Clinton Township-based Michigan Schools and Government CU said it also offers a “convenient switch kit for download that can help individuals transition their accounts from a bank to the credit union.”