Credit unions benefit from backlash against big banks

credit union

Credit unions added more new members during that month than in all of 2010.

Credit unions are benefiting from the backlash against big banks over new fees.   And in Texas, credit unions gained $326 million in new deposits from 47,000 new members during the month leading up to the so-called Bank Transfer Day. The Saturday event was orchestrated by an online campaign urging consumers to move their money from banks to the generally smaller credit unions.

 

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