Big news has been popping up all over the credit union industry, and while I’ve written about these topics before, they deserve follow up and re-examination.
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.
Whether Nov. 5 will go down as a day everyone will remember remains to be seen.
Lessons from Bank Transfer Day and the nomination of Carla Decker.
The $1.7 billion NEFCU in Westbury, N.Y., said it opened a total of 932 accounts last week, nearly two and half times the normal pace.
Nov. 5 may have been Bank Transfer Day but AmeriCU had some other priorities — supporting the troops and its members by taking part in the re-organized Central New York Veterans Day Parade & Expo.
Money is flowing out of banks and into credit unions, especially from Bank of America and especially into bigger credit unions.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.
Bank of America alone is in danger of losing 10.3% of its retail customers over the next 12 months, study says.
The Northwest Credit Union Association said more than 2,100 people switched to a credit union on Bank Transfer Day in Oregon and Washington state.