The Rundown
|- Membership growth doubled in October.
- CU sees shift toward local choices with financial relationships.
- Building relationships, existing penetration among long-term goals.
For many credit unions, Bank of America's failed attempt to charge a $5 monthly debit card usage fee sent their membership numbers up the charts.
The $1.3 billion Arizona State Credit Union likes to think that its recent uptick in new members is more connected to the way consumers are starting to view their relationships.
"We have been seeing a swing in buying habits to more local choices in doing business. Consumers see the real value in doing business locally, whether it's buying produce from local farmers or choosing a credit union," said Paul Stull, senior vice president of strategy and brand at Arizona State CU.
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