There may be parallels with credit unions in dealing with BankTransfer Day but small banks have their own special nicherelationship with both consumers and small business, a topexecutive of the Independent Community Bankers of America arguedThursday.

So far, the ICBA, which represents 5,000 small banks, is takingthe Nov. 5 social media event in stride and is doing nothingextraordinary to prepare since “we already have a strong bond withconsumers who realize we represent a good choice all along fortheir loans and investable funds.”

That message comes from Terry Jorde, senior executive vicepresident and chief of staff at the Washington-based trade group,commenting on what one state league described as a viral uprising on Facebook exhorting customers to switch theiraccounts from big banks to CUs and community banks.

“Unlike credit unions, many of which have a specific demographicor local base, we serve entire communities with a full range ofloan products,” Jorde said, adding that community banks cater tosmall business by holding 60% of the loans under $1 million.

The ICBA membership is composed of members who focus on a“relationship-based” approach to the business as compared to themegabanks, said Jorde, a former North Dakota CEO and chairman ofICBA who took the staffing job last April following a merger of herformer employer, CountrybankUSA, in Cando, N.D.

Meanwhile, the Financial Services Roundtable, which lobbies forlarge banks including transfer targets Bank of America and WellsFargo, said the current controversy centers on consumerchoice.

In a free market, bank customers “have a right to make their ownchoices,” said Scott Talbott, senior vice president of governmentaffairs.

Over the coming weeks, both CUs and banks have said they will bewatching carefully what percentage of accounts actually move out oflarge banks. One banking industry executive, noted, “We wentthrough this before with Huffington's Move Your Money and not muchhappened.”