Bank Transfer Day: Navy Federal Reports October Spike
Making the most of Bank Transfer Day and anti-bank fervor, the nation’s largest credit union, Navy Federal, reported Friday that October finished with a 39% jump in new account openings.
“It’s obviously been very good for us in making everyone aware of credit unions—to let people know of their options,” said Jennifer Sadler, assistant vice president of corporate communications at the $45 billion, 3.8-million member credit union.
For the year, new account openings are up 23% at the Virginia-based Navy Federal.
Nothing extraordinary for Bank Transfer Day on Saturday “though we will have cakes and cookies at every one of our branches” in a gesture to thank members,” Sadler said. Navy has 230 worldwide facilities.
Navy branches will be open normal hours “but we certainly will not be closing if there’s a line out the door,” she said.