As we steam toward Bank Transfer Day this Saturday, Nov. 5, local credit unions are staffing up and making extra copies of their application forms. Indeed, it seems that L.A. art gallery owner Kristen Christian’s initiative—to dump your lyin’, cheatin’, extra-fee-chargin’, bailout-hoardin’, refi-refusin’ corporate bank and cast your lot and your shekels with a locally owned bank or credit union—is already yielding some results locally. “We have since the beginning of the month seen a considerable increase in new accounts opening,” says Carlos Rodriguez, marketing director for Santa Cruz Community Credit Union. “People are saying they’re moving away from big megabanks in the area. They’re saying they’ve been meaning to do it and just didn’t get around to it and this was the last straw.” Rodriguez says SCCCU got more than 160 new accounts this month—roughly double the usual number of newbies. The credit union’s two branches are staying open this Saturday to accommodate BTDers. Over at Bay Federal Credit Union, Vice-President Tonee Picard also reports a 100 percent jump in new checking accounts. “On average we open 300-350 new checking accounts per month,” she wrote us, “and we just closed October [with approximately] 600 accounts.” “We continue to see it growing on a daily basis,” she adds. “We expect this to be a very busy week. We have been staffing the branches to support this opportunity.” No fees or lines? Where do we sign up?
Credit Unions See Boost from Bank Transfer Day
Occupy Santa Cruz protests outside local bank branches. Photo by Samantha Larson
