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Bank Transfer Day: Free Means Free, Understand Prospective Members and Risk

Consultants say "this extraordinary chance at growth cannot be squandered" but CU leadership must proceed with caution.

By Andrea Stritzke, TJ Riha | Updated on November 01, 2011

Everybody’s talking about the unprecedented opportunity that sits before today’s credit unions. As programs like free checking and debit rewards circle the drain at big banks across the country, angry customers are shopping for alternatives.

To be sure, this extraordinary chance at growth cannot be squandered. That said, leadership at the nation’s CUs must proceed with caution when courting these angry bank customers.

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