The week prior to the official Bank Transfer Day, credit unionswere busy encouraging consumers to take action.

Launched by Kristen Christian, a Los Angeles art gallery owner unhappy withher bank, Nov. 5 has been dubbed Bank Transfer Day, when consumersact on their growing frustration with big banks by switching to acommunity bank or credit union. While many are uncertain how manypeople will actually change financial institutions, credit unionshave been making the most of the media blitz.

Three of Long Island’s largest credit unions, the $4.3 billionBethpage Federal Credit Union, the $4.1 billion TeachersFederal Credit Union and the $1.7 billion NEFCU joined forces tolaunch BetterBankingforLongIsland.comto show locals how good banking can be by proving that there is abetter way to bank. The microsite encourages consumers to “Take astand: Join a community credit union today” or on Bank TransferDay. According to Edward Paternostro, president/CEO of NEFCU, theday provides yet another opportunity for credit unions to educateconsumers about the value of credit union membership.

“We are seeing significant, fundamental changes taking place inthe banking industry that are transforming the way people do theirbanking,” said Kirk Kordeleski, president/CEO of Bethpage FederalCredit Union. “These changes, coupled with consumers overalldiscontent in the financial arena, are creating positive awarenessabout the advantages of banking at a credit union. We are veryenthusiastic about this national movement and are proud to all worktogether to help promote it.”

"With more and more individuals and businesses gettingfrustrated with the additional fees they are being charged bybanks, people are starting to look at their options," added RobertAllen, president/CEO of Teachers FCU.

The $2.5 billion Wescom Credit Union decided one way to promotethe campaign to join credit unions was to play off the “I voted”stickers given out on election day.

So the Pasadena, Calif., CU has handed out “I Transferred MyMoney to Wescom” stickers to consumers who mention they are openingan account at the CU due to the Bank Transfer Day initiative.

CUNA and the state leagues have also pushed out marketing andadvertising efforts for Bank Transfer Day, employing an array oftools, including model press releases, Q&As and management andstaff talking points with an eye toward spiking account volume.

Social networks and more traditional means need to beconsidered, CUNA advised. NAFCU also said it has on the shelf a panoply ofnew and existing marketing materials to help credit unions get theword out, including posters and inserts.

North Jersey FCU has plans to hold open house events on Nov. 5at its four branches, offering services and incentives such as freecredit scores, credit counseling, $25 for opening an accountor taking out a loan, a two-month skip-a-payment every year for theduration of a new personal or auto loan applications, and giveawaysand children’s entertainment.

“Often times, the reason why people don’t take advantage ofcredit unions isn’t because they don’t like what we offer. Theysimply aren’t familiar with our products and services,” said JohnHolt, president/CEO of Nutmeg State Federal Credit Union. “We’veseen more traffic on accounts opened online, but I wouldn’t sayit’s a dramatic increase for us. I think the opportunity that BankTransfer Day presents is that more people are looking for bankingalternatives. I think the more we talk about the value ofmembership and build that understanding that, yes, they can bemember, I think more consumers will join over time.”

Holt said the Rocky Hill, Conn.-based Nutmeg State FCU hascreated an easy switch kit online and for the branches, whichrequires one signature. The credit union handles transferringeverything from direct deposits to automatic payments.

Tampa, Fla.-based Suncoast Schools has also focused on takingthe hassle out of the equation for consumers. As part of its “Makethe Switch” campaign, the $5 billion credit union has formed aswitch team in its contact center to provide the extra attentionthat some new members may need.

“Feedback we get from frontline staff reinforces what's beingreported in the news, that a barrier to consumers moving theirchecking relationship is the perception that it's a hassle,” saidPatti Barrow, marketing vice president at Suncoast. “While it doestake some effort to switch automatic payments, direct deposits andother ACH transactions, it's really not that complicated. Our keycomponent is that Suncoast will spend the time necessary withmembers who need assistance. “

Staffed with five to 13 call center agents, the switch team iscomposed of supervisors and experienced call center agents whospecifically expressed an interest in providing an increased levelof help.

So far the effort has been paying off.

“We’ve had a greater increase in checking accounts already thismonth than during the entire second half of 2010,” said Barrow.

For San Jose Credit Union, Bank Transfer Day will mark thekickoff of its “Be Free” promotion, where each month duringNovember and December, for every 10 debit card transactions, amember will receive an entry to win an iPad 2 or $500 cash.

“Our debit card has always been free, so we’ve been toying withthe idea of debit card promotion for a month. With the BankTransfer Day grassroots effort, we decided what better day to kickit off?” said Sara Holtz, marketing manager at the $125 million SanJose, Calif.-based credit union. “We’re excited to educate and showconsumers how convenient credit unions can be and just how easy itis to make the switch.”

For some credit unions, the timing could not have worked outbetter.

First Community Federal Credit Union will unveil its “Skip theFee, Swipe for Free” campaign.

Over the course of the three month campaign, the $650 millioncredit union has committed to give an estimated minimum of $200,000back to members.

During the months of November, December and January, theParchment, Mich.-based credit union plans to pay its members up to$5 each month based on their aggregate debit card point of saletransactions. In addition, First Community will hold weeklydrawings based on the previous week’s POS transactions to award$500 to 12 members. At the end of the promotion, one person will berandomly selected for a grand prize of $5,000.

“It was our CEO Cheryl A. DeBoer’s idea to show how we’redifferent from banks. Not only has our MasterCard check card alwaysbeen free, but we’ll pay members to use it,” said Nancy Loftis,marketing manager.

“Giving back to our members is what we do as a standardbusiness practice,” said DeBoer. “Our recent loan transfer campaignwas an example of this, along with our Skip the Fee, Swipe for FreeDebit Card campaign, where we are very excited to send this ongoingmessage to our current and potential members”.

The $269 million OMNI Community Credit Union in Battle Creek,Mich.. took the opportunity to debut a checking rewards andcash-back program tied to debit cards called “OMNI Pays in ManyWays.”

The campaign, which runs through year end and includes $3,000 inprize drawings keyed to usage, encourages current OMNI members whodon’t have a checking account at the credit union–as well as thosein the community who aren’t yet members–to make the switch with achance to win $250 in free debit card purchases each month for ayear.

“There are both immediate and long-term benefits and we’repaying our members in two ways,” said OMNI CEO Ted Parsons. “One isthe chance to win free debit card purchases for a year. The otheris to increase their share of the cash-back rebate paid out at yearend.”

Despite the marketing push and reports of an uptick in accountsat some credit unions, some industry analysts remain skepticalabout what the actual results will be.

“Much like the Occupy Wall Street movement, Bank Transfer Dayfeels like it wants to be a full-blown revolution, but in theannals of history, this event will probably be regarded as littlemore than a minor bank customer uprising,” wrote Jeffry Pilcher ofthe Financial Brand, in his blog titled “4 Reasons‘Bank Transfer Day’ is Silly.”

He compared Bank Transfer Day to the Huffington Post “Move Your Money”efforts, which drew little new business to credit unions.

“The challenge for credit unions is this,” maintained BillHandel, vice president-research/development at Raddon FinancialGroup, the Chicago consultancy, “If indeed consumers do begin tomigrate their accounts to credit unions, the credit unions have tobe willing to take the bad with the good. The bad is thesingle-service, low-balance checking accounts which will need to besubsidized by the rest of the membership.”

The good part, said Handel, “is the accounts where relationshipsare built. But if too many bad checking accounts are attracted andthe credit union is not successful in cross selling, then at somepoint I believe they will need to move away from free and movetoward a relationship-based pricing structure.”

Research, said Handel, does show clearly that consumers detestadditional fees, but surveys also show that big banks “no longerhave as much of a concern with the mass market forchecking. They will not impose debit card fees on valuableaccounts.”

Handel urged CUs to shy away from claims, statements or oathsthat “we will never impose fees and never do evil.” Statements likethat “can come back to haunt us two or three years later,” hewarned, adding that includes “throwing so much mud” against bigbanks.