Claiming “its first real look at hard numbers” following a fall image campaign and Bank Transfer Day backlash, the League of Southeastern Credit Unions said Wednesday that Alabama and Florida credit unions added 48,000 members in the third quarter.
Credit unions in the two states also saw a jump in assets – $1.4 billion over the same period a year ago, the LSCU said.
“The largest jump came for Alabama credit unions that saw $1.3 billion added while Florida saw $159 million in growth,” the league said.
The gains coincide with a league-sponsored marketing push that began in September just before Bank of America announced its now-rescinded $5 monthly debit card fee.
“The LSCU Statewide Image Campaign hit at the exact right time,” said league President/CEO Patrick La Pine.
The Bank Transfer Day buzz, he said, set the stage for Florida/Alabama consumers to begin looking at a credit union “and so we can clearly see the jump in numbers.”
During the third quarter, Florida CUs added 31,000 new members while Alabama reported 17,000.
“For perspective, Florida credit unions averaged 12,000 new members in the first two quarters while Alabama credit unions averaged 8,000,” the league said.