Valentine's Day might be a good day to break up with your bank,according to McGraw-Hill Federal Credit Union.


The$304 million East Windsor, N.J., credit union has releasedsurvey results it said showed that more than 70% of Americans woulddo just that if offered a better alternative, and 40% citing high hidden fees as thebiggest reason.


McGraw-Hill FCU said it used the online services of Toluna,which said it reached out a nationwide pool of 1,050 people overage 18, none of them credit union members, to come up with theresults.


The 20,300-member credit union said its poll results showed:

  • 36% likened dealing with their bank to interacting with theirin-laws (in a negative way)
  • Over 25% of women surveyed, selected “I Can't Make You Love Me”as the song that best described how they feel about their bank
  • 73% of respondents ages 18 to 29 were interested in learningabout a new banking option.

McGraw-Hill FCU said credit unions are the healthy antidote fora loveless relationship with a bank.


“Credit unions can provide consumers a caring, healthy financialrelationship,” said Shawn Gilfedder, the credit union'spresident/CEO. “Attaining financial wellness helps consumers gaingreater control of their finances, resulting in better decisionmaking, fewer financial worries, and reduced stress.”

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