I guess the Credit Unions are more aware of what the Big Banks have forgotten: CUSTOMER SERVICE! In addition, most Credit Unions offer better rates to their members than many of the Big Banks.
Keep it going and keep the ball rolling! Sooner or later maybe these Big Banks that were bailed out with OUR MONEY might realize that it is a PRIVILEGE to have CUSTOMERS, and the ability to make a profit with OUR MONEY!
From an article in the Wall Street Journal by Suzanne Kapner, 11.07.11:
"Thousands of people flooded into credit unions and small banks over the weekend as part of "Bank Transfer Day," an effort to prod depositors to abandon giant banks. But at least some of the big banks won't mind losing those customers".
"Executives at large banks have shown few signs of worry that depositors might walk out the door".
"Moebs Services Inc., a research firm in Lake Bluff, Ill., estimates that it costs the giant banks about $350 to $450 per year to maintain a checking account. In contrast, smaller banks incur costs of $175 to $250 a year per checking account".
"Banks try to recoup such costs by imposing overdraft fees and other charges. But new rules in the wake of the financial crisis limit some of those surcharges. The recent debit-card-charge mess was a failed attempt to close the gap"
"Many banks also have done away with free checking, unless customers maintain a minimum balance and meet other criteria".
"More than three-fourths of credit unions offer no-strings-attached free checking, compared with 45% of banks, says Greg McBride, an analyst with Bankrate.com. Deposits at banks and credit unions are insured up to $250,000".
American Me? The book www.AmericanMeUs.com
MAKE A DIFFERENCE! GET INVOLVED! FIGHT BACK!
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