Despite the euphoria, a top researcher for J.D. Power & Associates warned credit unions last week against "popping the champagne corks too early" in expecting sustainable gains from Bank Transfer Day. That's because their data continue to show real consumer intransigence about moving accounts.

"It's really too soon to know whether the spin translates into sizable shifts into credit unions," declared Michael Beird, director of the banking services practice for J.D. Power.

Beird said the firm's most recent surveys show 28% of consumers move accounts because of life-changing events like moving and  marital status. But 17% switch because of frustration or anger over price changes and on that "we don't have the data yet, but that percentage could certainly increase" benefitting CUs.

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