Amid the Bank Transfer Day marketing hype, credit unions seem well on track in taking advantage of competitive opportunities but the temptation to overreach by “bashing the banks” remains strong, according to the Raddon Financial Group, the Chicago consultancy.   

“The challenge for credit unions is this,” maintained Bill Handel, vice president-research/development: “If  indeed consumers do begin to migrate their accounts to credit unions, the credit unions have to be willing to take the bad with the good. The bad is the single-service, low-balance checking accounts which will need to be subsidized by the rest of the membership.”

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