The Rundown
|- Account openings, online and in-branch, double in October at BECU.
- Randolph-Brooks FCU reports 22% of new funds through ACH are from Bank of America.
- Online account opening up as much as 40% at Andera, Harland and Fiserv.
While Bank Transfer Day, and the dump-your-bank sentiment that serves as its backdrop, has earned a lot of media coverage and promotional dollars among credit unions, are people really switching?
The folks whose job it is to facilitate that move behind the scenes, who manage the so-called "switch kits" of electronic banking, say it's so.
Several big credit unions and the vendors who supply their technology told Credit Union Times last week they have seen a surge of new memberships that began when Bank of America declared its $5 a month debit fee in late September.
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