Bank Transfer Day: Trades Report Page Views Boost
Bank Transfer Day was a boon for CUNA’s and NAFCU’s websites that help people find a credit union to join and help credit unions gain more members, the trade groups said Monday.
NAFCU said its CULookup website had a record number of page views on Saturday but declined to reveal a number.
The additional Web traffic has helped fuel an increase in membership for the trade association’s’ member credit unions, the trade groups said.
NAFCU said a survey of its members found that 54% reported an increase in share growth and/or fees because of Bank Transfer Day. The survey also found that 41.7% of respondents have experienced a share growth increase of more than 20% over last month.
In addition, 21.7% of those surveyed said share growth in October was more than 20% greater than in October 2010. The trade association also reported that 63.9% of all responding credit unions reported an increase in membership in October.
CUNA said it hasn’t received all the data yet from its credit unions. However, CUNA Chief Economist Bill Hampel said the growth from Bank Transfer Day and the events leading up to it could cause the credit union system to now have more than $1 trillion in total assets.
The industry had $942.5 billion in assets as of June 30, according to the NCUA.