The decision by big banks to back away from new fees has sloweddown new member signups at one Georgia credit union, but thenumbers are still good, a spokeswoman there says.
|New member signups at the $59 million Northwest Georgia CreditUnion in Rome has noticeably slowed down during the last few daysbefore Bank Transfer Day, said Tiffany Greenway, NWGACU's director ofmarketing and strategy, although the credit union ran a promotionthat included “LESS FEES, MORE LOVE” T-shirts and a drawings forVisa gift cards and an iPad this week.
|Greenway said NWGACU won't be open Saturday but that fromAugust through October, the 12,500-member credit union gained316 new members, compared with 231 in the previous threemonths.
|“That's nearly a 37% increase,” Greenway said. “Now that thebanks have rescinded their fees, it's affected us a little bit. ButI still believe the positive message we're getting out, from apublic relations perspective, is as much a benefit for us as thenew accounts opened.”
|She said the viral social media nature of Bank Transfer Day hasbeen particularly notable, including at her own credit union.
|“To me this is a trend we're seeing around the world, withyoung people using social media and then it all moves into themainstream media,” Greenway said. “I believe that's the primarydriver for banks rescinding those new fees.”
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