Onsite Coverage: Bank Transfer Day Homeless in Hoboken?
HOBOKEN, N.J. — If there were consumers in the Hoboken, N.J., area seeking to take advantage of Bank Transfer Day, they were greeted with many lock doors this morning, visits to about a dozen credit unions near Credit Union Times’ Hoboken offices revealed.
Only one of the credit unions visited or called was open. The Jersey City branch of the $426.8 million Chicago-based Selfreliance Ukrainian American Federal Credit Union was open from 9 a.m. to 1 p.m. as usual.
Branch Manager Olha Ilnicki at first appeared to be unaware of Bank Transfer Day. But when prompted, she said had heard of it. She declined to comment on whether the movement has had an impact on her branch and said any comment would have to come from credit union executives who were unavailable Saturday.
The credit unions in Hoboken and Jersey City are predominately small, SEG-based CUs. The smallest is the $111,000 Salem Baptist FCU. But even the relatively larger credit unions in the area did not open their doors Saturday.
The Jersey City Journal Square branch of the $130.4 million Xcel FCU, whose members are employees of the Port Authority of New York and New Jersey, was locked and deserted.
The four credit unions located in Hoboken range in size from $46.5 million to $1.2 million. The largest in the city, Hoboken School Employees FCU, does not maintain Saturday hours, and Bank Transfer Day was no exception.
The main branch of the $62.4 million Liberty Savings FCU on Newark Street in Jersey City had a Bank Transfer Day flyer in the window that said, in part, “Boot Your Bank.”
The branch doors were locked and potential members were referred to the CU’s Greenville Service Center, which is about two miles away.
Attempts to reach the service center failed because there is no public telephone listing for the center.
Not all Garden State credit unions were closed Saturday, however. Totowa-based North Jersey FCU reported heavier than usual traffic at its branches.