Cooke discussed key differences between banks and credit unions in the context of Bank Transfer Day, which took place Nov. 5. Bank Transfer Day was a target for consumers to move their accounts from big banks to credit unions.
“Bank of America and other large financial institutions started charging fees for debit cards following legislation championed last year by Senator Durbin,” Editor-in-Chief Sarah Snell Cooke said. “They’ve since backed off but consumers are fed up so they’re creating a stir about moving their money to community institutions, like credit unions. Bank Transfer Day has been a huge opportunity for credit unions.”
Listen to more of the discussion here.
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For Information, contact:
Sarah Snell Cooke
CU Times Editor-in-Chief