Marketing

A CDCU already in the media spotlight for having run afoul of Goldman Sachs was the focus of a NBC story about Bank Transfer Day this past Saturday.

The results of Bank Transfer Day apparently were very good for credit unions but CUNA and NAFCU said Monday they are still determining just how good.

CUNA, NAFCU say Bank Transfer Day interest showed on Web pages and will soon show up in deposit reports.

Bank Transfer Day was lauded for helping to nudge consumers toward credit unions. It was belittled as mere media hype. It was feared it would only bring in deposits and not loans, which would tip delicately balanced capital ratios.

Amid the general excitement about Bank Transfer Day, some commentators have urged caution upon credit unions. They have pointed out that small-dollar, single-product new members may not be profitable; that a large influx of deposits may dilute net worth ratios; and that promises that well never charge you fees may...

Occupy Wall Street demonstrations in New York City and across the country continue to grow as organizers seek to keep the momentum going by connecting with credit unions.

When Bank of America announced a monthly $5 debit card fee would take effect in 2012, questions about the potential backlash ran through my head. Would consumers put up with this? Would the bank cancel the fee to combat lost business? How angry would the fee make Gen Y?

For many credit unions, Bank of Americas failed attempt to charge a $5 monthly debit card usage fee sent their membership numbers up the charts.