Arizona CU Sees a Go-Local Shift
For many credit unions, Bank of America’s failed attempt to charge a $5 monthly debit card usage fee sent their membership numbers up the charts.
The $1.3 billion Arizona State Credit Union likes to think that its recent uptick in new members is more connected to the way consumers are starting to view their relationships.
As for Bank Transfer Day, Stull said the credit union didn’t plan any specific links tied to the call for consumers to switch their financial institutions. For several months prior, Arizona State CU ran a major media campaign with the message “I Don’t Bank, I Credit Union!” He said the message had perfect timing, and the television spot resonated very well, leading to an increase in awareness of what the credit union had to offer.
Over the past 10 months, Stull said Arizona State CU also loaned out more than $227 million to help businesses and members through a still troubled economy. The credit union also touts not having any restrictions on debit card use and its free electronic services.