The 220,000-member, $5.4 million San Diego County Credit Union reported that a debit card promotion tied to Bank Transfer Day wound up doubling the number of accounts the CU usually opens.
Volunteer training, dealing with growing compliance demands and staying profitable enough to stay alive.
Horned Frogs and Bulldogs with Make-a-Wish as the winner.
Final numbers show debit cards without fees generate significantly more members.
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.
San Diego County Credit Union gained 362 new checking account members on Nov. 5 and more than 850 in the first week of November.
The $5.3 billion San Diego County Credit Union wants to offer a way for locals tired of big bank fees to work out their frustrations.
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.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.
Credit unions across the country have been making the most of the opportunity that Bank Transfer Day represents.