Bank Transfer Day: Gaggle of New Members Flock to West Coast CUs
Credit unions in California and Oregon enjoyed a surge of new members on Bank Transfer Day, as well as on the days leading up to Nov. 5. To encourage new member signings, some CUs kept branches open during extended hours while others marketed Bank Transfer Day promotions.
The $5.3 billion San Diego County Credit Union gained 362 new checking account members on Nov. 5 and more than 850 in the first week of November, President/CEO Teresa Halleck said. Compared to September’s membership growth numbers, membership grew by 62% more in October, bringing its total member count to 221,470 at the end of the month.
The $2.5 billion Wescom CU in Pasadena, Calif., reported numerous new memberships in the days leading up to Nov. 5 and said its number of new members doubled Saturday compared with a typical Saturday showing.
“The Bank Transfer Day momentum started early for us, with new memberships up all week,” said Susan McCready, senior vice president of branch administration. “Some of our branches were busier than others, but overall we saw an increase in new accounts. We are looking forward to establishing meaningful and long-term relationships with our new members.”