CUNA Celebrates Bank Transfer Day

Staff spread the word about the CU difference.

November 4, 2011

As CUNA’s director of business development, Joe Day is constantly promoting CUNA’s products and services.

But as a part of the credit union movement’s primary trade association, he’s also an enthusiastic credit union cheerleader. Lately, Day has been talking up Bank Transfer Day.

“I’ve been talking about it with friends, family, and people in the community,” he says. “It’s been pretty easy because most had already heard about it—they’d seen it in local newspapers and online. It’s fun to see the awareness out there.”

Day isn’t alone. “The movement toward credit unions over the past several weeks has been nothing less than phenomenal,” CUNA President/CEO Bill Cheney wrote in the Huffington Post. For us in the credit union movement, it is confirmation of our long-standing tenet that credit unions are “people helping people.”

Joe Day
video Joe Day and other CUNA staff explain how they spread the word about Bank Transfer Day. Watch now.

Cheney mentioned that consumers who join a credit union can expect to save at least $70 in lower rates, higher returns on savings, and lower or no fees—just as current credit union members did in the 12 months between June '10 and June ‘11.

And that’s just on average—consumers who use credit unions extensively often receive financial benefits that are much greater than the average.

“From what our member credit unions are telling us,” Cheney says, “the reason for the consumer swing is clear: Consumers are upset about bank fees; they've just had enough.”

Consumers have also been intrigued by Bank Transfer Day, another reason new members are coming in the door.

“This Saturday will no doubt be an historic day for consumers and credit unions alike,” Cheney says. “Consumers want to be free of high fees, and credit unions want to help free them.

“It's one day for consumers to make a smarter choice. But it doesn't have to end there: Every day is a good day to join a credit union.”

CUNA is gearing up for Bank Transfer Day in style, sporting shirts (pictured above) specially designed for the occasion.

The CUNA blog, CUNAverse, will award Bank Transfer Day shirts to two random people who post comments about their Bank Transfer Day experiences on the blog. Comment now.