Bank Transfer Day: Michigan CU Adds 72, Keeps Promos Going
More than 70 people ditched their banks on Saturday and made the switch to Michigan Schools and Government Credit Union, the credit union announced on Monday.
The Clinton Township, Mich.-based credit union celebrated Bank Transfer Day by opening the doors to its nine branches and handing out T-shirts to new members.
“Bank Transfer Day was an exciting opportunity for individuals to start setting it right with their finances by re-evaluating their relationship with their banks,” said CEO Peter Gates.
“With 72 new members in one day, we certainly saw a surge in account openings on Saturday and hope that individuals will continue to discover that the credit union is a better alternative to big banks.”
To keep the momentum moving forward, Michigan Schools announced Monday that it will continue to offer a special new member bonus, where the credit union will match deposits up to $25 for new members that open a checking account.
“While some banks are charging an upwards of $25 a month for their checking accounts, we’re rewarding our new members with up to $25,” said Gates.
The $1.1 billion, 66,000-member credit union has stressed that its checking account has no monthly or per-check fees.