In another tweak of Bank of America and now Wells Fargo for their latest forays into higher checking fees, the head of the $4.2 billion Bethpage Federal Credit Union over the weekend called the moves by the two megabanks another example of good news for credit unions.
Kirk Kordeleski, president/CEO of Long Island's largest CU, also disputed the notion, often spread by banks themselves, that CUs are picking up the high-volume, low-balance accounts in a followup to Bank Transfer Day.
"We're not in the numbers game but we are pleased that based on the results we received in the last quarter we are getting primary relationships and these are members who will be taking on those car loans, mortgages and everything else we have to offer," Kordeleski said in citing the profit potential from Bethpage BTD promotions.
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