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.
Robin and Jeremy

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

May 24 19 Comments

Remembering A Forgotten Scandal At Yale

Mark Oppenheimer was surprised to find how the scandal impacted those involved, almost 60 years later.

May 24 9 Comments

Arizona’s ‘Adopt-A-Burro’ Program Tries To Solve An Overpopulation Issue

The small donkeys are federally protected animals, but cause problems like digging up plants and walking on highways.

May 23 33 Comments

The Politics Of Home Ownership

Author Brian McCabe finds that our belief about home ownership as a way to improve civic life doesn't necessarily pan out

May 23 15 Comments

How Political Cartoonists Are Watching The Presidential Campaign

For cartoonists Marshall Ramsey, Darrin Bell and Gary Varvel, it's been a mixture of hilarity and sadness.