For Redwood Credit Union, the national switch day resulted in 600 new accounts.
The $1.9 billion credit union in Santa Rosa, Calif., said as a result of Bank Transfer Day, the figure was equal to six times the normal number of new accounts. Following a record October in new accounts for RCU, with an 83% increase over October 2010, the growth shows no signs of stopping, according to the financial institution.
“While we're thrilled to be welcoming so many new people to RCU, the real winner is the consumer or business owner who will see immediate savings and better service by making the smart decision to switch to a credit union,” said Brett Martinez, president/CEO of RCU.
“Because credit unions are not-for-profit, people who switch enjoy more affordable banking with a higher level of personal service, and at the same time, they are helping strengthen the local communities where they live and work,” Martinez said.
The credit union serves 200,000 members, has 18 branches and access to 28,000 fee-free ATMs the CO-OP Financial Services.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
