http://www.whitenewsnow.com/blogs/rainer/ A news and discussion site supporting the interests of White people en Tue, 21 May 2013 10:06:06 GMT vBulletin 300 http://www.whitenewsnow.com/images/misc/rss.jpg http://www.whitenewsnow.com/blogs/rainer/ http://www.whitenewsnow.com/blogs/rainer/91-lot-individuals-took-part-bank-transfer-day.html Thu, 10 Nov 2011 08:54:39 GMT Backlash against fee gouging from banks led to an online campaign for “Bank Transfer Day,” when individuals pledged to close accounts at large banks... Backlash against fee gouging from banks led to an online campaign for “Bank Transfer Day,” when individuals pledged to close accounts at large banks and open up accounts at credit unions and neighborhood banks. Thousands of individuals switched. Source of article: [URL="http://personalmoneynetwork.com/moneyblog/2011/11/08/bank-transfer-day/"]Early Bank Transfer Day numbers show success[/URL] [B]Over half a million already left[/B] A number of people have gotten really angry about fee gouging at retail banks. ”Bank Transfer Day” is an online campaign. It began as soon as Bank of America declared the monthly $5 debit card fee. With the campaign, everybody was anticipated to switch financial institutions quickly. This was intended to happen before or on November 5 and would take consumers to credit unions and local banks rather than large banks. As reported by the Credit Union National Association, 650,000 individuals joined credit unions between Sept. 29 and Nov. 5 adding $4.5 billion in assets to the unions, the New York Times explains. Credit unions all across the nation were reporting large increases in membership. The number of people that joined credit unions in 2010 was less than that. There were 600,000 total for the whole year, according to CNN. [B]Huge surge over weekend[/B] The National Association of Federal Credit Unions reported a massive increase in the number of new member applications over the weekend. Between November 4 and 6, there was a 54 percent increase in applications. Other credit union associations are still collating data, but individual unions are reporting large increases from the weekend. The Wall Street Journal reports an enormous increase in the Boeing Employees Credit Union in Seattle, Washington. The credit union got 659 brand new members on Saturday breaking a record for the business. According to CNN, Digital Federal Credit Union did really well also. It got 133 brand new members that signed up. In New England, Digital Federal is the largest CU. Usually, it signs up 85 new members on Saturdays. In 131 credit unions in the MCUA, the Missouri Credit Union Association reported 7,100 brand new accounts being opened in the last six weeks such as Bank Transfer Day, according to the Maryland heights Patch. Over $49 million in deposits were added by consumers. The North Jersey Federal Credit Unions got 48 brand new accounts on Saturday, according to NorthJersey.com. Five is typical. [B]Is it the switch for you?[/B] As reported by ABC, credit union members are less likely to be charged maintenance fees. Almost 80 percent of credit unions do not require a minimum balance and have free checking, which is much better than the 64 percent of banks that do that, as reported by Moebs Services. Credit card rates of interest will be lower at credit unions too. There are 500 credit unions with more than one branch. That is a very low number. Furthermore, credit unions have far fewer ATMs than the large financial institutions do. [B]Articles cited[/B] [URL="http://money.cnn.com/2011/11/07/pf/move_your_money_day/index.htm?iid=SF_PF_Lead"]CNN[/URL] [URL="http://online.wsj.com/article/SB10001424052970203733504577021972358085822.html"]Wall Street Journal[/URL] [URL="http://bucks.blogs.nytimes.com/2011/11/07/did-you-participate-in-bank-transfer-day/"]New York Times[/URL] [URL="http://marylandheights.patch.com/articles/bank-transfer-day-pumps-up-missouri-credit-unions-with-49-million"]Maryland Heights Patch[/URL] [URL="http://www.northjersey.com/news/133418053_Bank_backlash_a_boon_to_N_J__credit_unions.html"]North Jersey[/URL] [URL="http://abcnews.go.com/Business/WorldNews/credit-unions-54-percent-increase-membership-related-bank/story?id=14897356#.Trl4L2WP-_0"]ABC[/URL] ]]> raineR http://www.whitenewsnow.com/blogs/rainer/91-lot-individuals-took-part-bank-transfer-day.html