Credit Unions Get Bump From Occupy Wall Street Movement – Hartford Courant (Connecticut)

For decades, credit unions have existed in the shadow of the more highly visible banks and their presence on Main Street. But the Occupy Wall Street movement —...

For decades, credit unions have existed in the shadow of the more highly visible banks and their presence on Main Street. But the Occupy Wall Street movement — now in its third month — is challenging the dominance of the big banks, stepping up criticism of proliferating fees and soaring senior execu

For decades, credit unions have existed in the shadow of the more highly visible banks and their presence on Main Street.

But the Occupy Wall Street movement — now in its third month — is challenging the dominance of the big banks, stepping up criticism of proliferating fees and soaring senior executive pay in protests across the country and in Connecticut. And earlier this month, the Facebook-promoted “Bank Transfer Day” urged fed up consumers to move accounts to credit unions, after Bank of America and other national banks instituted monthly debit card fees.

While it is too soon to tell if the push has staying power, credit unions in Connecticut say they saw a spike in account openings in the weeks leading up to Bank Transfer Day on Nov. 5.

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