Today is International Credit Union Day, and local CUs have plenty to celebrate. The recent outrage over rising bank fees and spreading Occupy Wall Street demonstrations have put national financial institutions in a negative light, to say the least. All the while, local banks and credit unions are snapping up enraged customers left and right.
In fact, the growing nationwide disdain for banking giants and their excessive fees has become so great that November 5, 2011 is now Bank Transfer Day. The Facebook event page describes the purpose of this day:
“If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.”
There are undoubtedly a number of advantages to banking at a credit union, including lower fees, personalized service and more competitive interest rates.
So we want to know, will you be ditching your bank and joining a credit union?