RANCHO CUCAMONGA, Calif. — It's not exactly unexpected but still the “find a credit union” Web sites have shown a whopping 60% increase for successful public searches during September, the California/Nevada Credit Union League said Friday.
The increases have been most pronounced, said league officials, in states like California, Florida Washington, and North Carolina where banking turmoil has been the worst.
The increases also come as state leagues and member CUs have aggressively stepped up their safety/soundness media campaigns stressing deposit insurance and most recently NCUA's $250,000 increase.
“The dramatic jump in successful searches has occurred since July in every state and can be traced to the ongoing crisis which is obviously bringing in more members,” said Catherine Arra, program manager of Find a credit union.com offered online by 28 state leagues.
In North Carolina, where Citibank and Wells Fargo have fought in court over Wachovia Bank the increase in searches rose 62% for the second quarter.
Arra said nationally the actual number of successful searches in September rose to 35,034. a 60% jump from the 21,862 in August. In California the month-to-month increase was 100% for September climbing to 9,580 from 5,500 in August, said Arra.
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