Bank Transfer Day, which took place Saturday, Nov. 5, was a target for consumers to move their accounts from big banks to credit unions. Cooke discussed the key differences between banks and credit unions with WNIJ in the context of the day that has received national attention. "Bank of America and other large financial institutions started charging fees for debit cards following legislation championed last year by Senator Durbin," Cooke said. "They've since backed off but consumers are fed up so they're moving their money to local, community institutions, like credit unions. Bank Transfer Day has been a huge opportunity for credit unions and I hope they continue to exploit it."
Listen to more of the discussion here.
Click here to view other relevant articles.
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.
