The Northwest Credit Union Association said more than 2,100 people switched to a credit union on Bank Transfer Day in Oregon and Washington state.
The NWCUA said Oregon's 660 new members and Washington's 1,430 new members comprised 5.3% of CUNA's national estimate of 40,000 consumers who opened new credit union accounts on Saturday. A total of $2.9 million was moved in the two states, the trade group said.
Between Sept. 29 – the day of Bank of America's $5 monthly debit fee announcement – and Oct. 31, 10,700 new members joined in Oregon and 23,000 in Washington, more than 22% of the total growth of 153,174 in all of 2010, the NWCUA said.
“Credit unions around the nation are experiencing well-deserved fourth quarter growth following what bankers have done to themselves in the marketplace, and Oregon and Washington are no exception,” said NWCUA CEO John Annaloro.
CUNA has said more than 650,000 new credit union members joined between Sept. 29 and Nov. 3 in the run-up to Bank Transfer Day and that another 40,000 signed up on Nov. 5 itself.
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.
