Credit unions hope the growing consumer anthem of “We’re not gonna take it,” over the latest debit card bank fees, has those consumers primed to make a switch.
Credit unions across the land are “seizing this marketing opportunity”, as CUNA officials put it Tuesday, to take advantage of the favorable industry media coverage following the announcement of Bank of America’s $5 monthly debit fee.
The issue of revenue that banks and credit unions make from transactions on their debit cards moved from the obscure corners of the financial services industry into the national spotlight last week as the Federal Reserve's debit interchange cap came into effect.
Tinker FCU buys one drive-through site from banking giant.
Arizona State CU SVP says new members citing new bank fees in decision to switch.
Michigan CUL issues localized press releases touting CU difference in Wolverine State.
Bank giant's move may create openings for smaller institutions.
Sandler O'Neill's Peter Duffy says deals most likely to be in real estate rather than account relationships.
Bank of America will make $10 million available for deposits in community development credit unions across the country, according to the National Federation of Community Development Credit Unions.
Deposits of capital will help community development credit unions make loans across country.