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Credit unions play on anti-fee view – Charleston Daily Mail (West Virginia)

When Bank of America tried unsuccessfully a few months ago to charge its customers a $5 monthly fee for debit cards, some angry consumers advocated a so-called "Bank...

By Anthony Murray
22 December 2011
When Bank of America tried unsuccessfully a few months ago to charge its customers a $5 monthly fee for debit cards, some angry consumers advocated a so-called "Bank Transfer Day."Pioneer West Virginia Federal Credit Union took its own jab at bank fees by running an advertisement in the Sunday Gazet
By Anthony Murray
22 December 2011

When Bank of America tried unsuccessfully a few months ago to charge its customers a $5 monthly fee for debit cards, some angry consumers advocated a so-called “Bank Transfer Day.”

Pioneer West Virginia Federal Credit Union took its own jab at bank fees by running an advertisement in the Sunday Gazette-Mail headlined, “Fee’d up with banks? Let’s make change!” Pioneer said it would pay its members 5 cents every time they use the credit union’s debit card. The ad declared, “Finally checking that makes cents!”

C. Dana Rawlings, Pioneer’s chief executive officer, said, “We started it in the midst of the uproar about the Bank of America wanting to charge its customers $5 a month for the privilege of carrying around a little piece of plastic in their wallet. We’re a co-operative; we work with the community and our members. We said, ‘We’re going to buck this trend and pay our members 5 cents every time they use the credit union’s debit card.’

“We have some members who swipe their card 50 to 60 times a month,” he said.

The “Fee’d up with banks” campaign began in September. In October and November the credit union attracted about 75 new members who opened checking accounts and asked for debit cards.

Read more

In this article
  • bank
  • banking
  • C. Dana Rawlings
  • Charleston Daily Mail
  • Cheque
  • Credit cards
  • Debit card
  • Economics
  • Electronic commerce
  • Finance
  • Payment systems
  • Person Career
  • Pioneer West Virginia
  • Quotation
  • Social Issues
  • the Sunday Gazette
  • Transactional account
  • Visa Debit
  • West Virginia
Anthony Murray

Anthony has been working as a co-operative journalist since 2002. As editor, he ensures the overall style and content is consistently relevant for the movement. He also keeps in touch with the global movement as a member of the International Co-operative Alliance's Communications Committee.

Show More

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