For the 66% of account holders who would consider switching their financial institutions if the move wasn’t so painful, Texas Trust Credit Union said it has a plan to make the entire process easier and faster.
Despite the euphoria, a top researcher for J.D. Power & Associates warned credit unions last week against “popping the champagne corks too early” in expecting sustainable gains from Bank Transfer Day. That’s because their data continue to show real consumer intransigence about moving accounts.
Banks practice researcher says consumer reluctance to switch shows in the statistics.
As consumers aim to simplify their lives by cutting back on spending and building savings, credit unions are out front helping to make it happen, according to one CUSO.
Bethpage Federal Credit Union is proof that consumer trust doesn't always translate into greater awareness.