90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Thursday, November 3, 2011

Credit Unions Look To Cash In On ‘Bank Transfer Day’

(Flickr/watchingfrogsboil)

(Flickr/watchingfrogsboil)

A Los Angeles activist has dubbed this Saturday “Bank Transfer Day,” encouraging people to move their money from big banks to credit unions. The movement gained momentum when Bank of America announced fees on debit card users — fees they have since reconsidered.

Credit unions didn’t start the protest, but they hope to take advantage of “Bank Transfer Day.” Several have launched aggressive marketing campaigns to go after bank customers, and are even planning parties and giveaways for this Saturday.

A new Harris Interactive poll points to problems for big banks. The survey found that 9 percent of Bank of America’s customers are ready to leave that bank. Customers also said they were dissatisfied with customer relations. Meanwhile, more than 70 percent of customers at nonprofit credit unions say they’re highly satisfied.

The pollsters say the results could reflect a tipping point for banks, which are struggling to find new sources of revenue, after new legislation cost them $6.6 billion in debit card fee transactions.

Guest:

  • Suzanne Woolley, managing editor of Bloomberg.com personal finance

Please follow our community rules when engaging in comment discussion on this site.
Spotlight

Here & Now resident chef and cookbook author Kathy Gunst shares her list of the best cookbooks of the year.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

December 17 2 Comments

Atticus Lish’s ‘Preparation For The Next Life’

The author's debut novel centers on an unlikely romance between an Iraq veteran and a Uyghur from China.

December 17 3 Comments

Diagnosing Ear Infections With Your Smartphone

The CellScope Oto is a clip-on gadget that turns a smartphone into an otoscope — the tool doctors use to check out a patient's eardrum.

December 16 Comment

‘Sacred Journeys’ Documents Religious Pilgrimages

In a new documentary series on PBS, Bruce Feiler accompanies Americans on pilgrimages to six of the world's holiest sites.

December 16 4 Comments

Jewish Cuisine — It’s Not Just Chopped Liver

Janna Gur shares some history of Jewish cuisine, as well as three recipes from her new cookbook "Jewish Soul Food."