In the four weeks leading up to today, Wisconsin credit unions have added nearly 14,700 new members and $102 million in new deposits.
According to the Wisconsin Credit Union League, those figures are expected to increase beyond Bank Transfer Day.
Searches for Wisconsin credit unions on www.asmarterchoice.org – a credit union finder site – increased 76% over the prior week during the last week in October.
“Consumers have hit their pain threshold and are reacting. They're saying 'I've had enough' and moving to a financial institution that will treat them better,” said Brett Thompson, president/CEO of the Wisconsin league. “Because a credit union is a cooperative in which each account holder is part owner – and there are no stockholders seeking profits – it's the depositors who benefit.”
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