National Bank Transfer Day: Coloradans Move $100 Million Into Credit Unions

The Colorado Independent:

As the social media-sparked Bank Transfer Day approaches, the Credit Union National Association (CUNA) reports that over 650,000 people have joined credit unions in the last four weeks. In Colorado, the group reports 14,000 new accounts and $100 million in new deposits.

Read the whole story: The Colorado Independent

Comments

[hchavez]

02:57 AM on 11/07/2011

"“We’re focused more on the needs of our clients and less on the bottom line,” said Joy Audet, director of corporate communications for the credit union association in Colorado."

I think this sums up what people are looking for today. Personalized service, and not distant, far-off, changing the planet attitudes. Just doing all this locally.

[1differentdrummer]

05:22 AM on 11/07/2011

Yeah, but get active in your CU, don't trust the board to do what's right without member involvement.

[D-Driller]

12:10 PM on 11/06/2011

About 5 million of us here - that is $20 p/person.... Whoo. Hoo. $7142 p/new account... That'll show'em... That is what I like to call an EPIC FAIL. Now, let's be realistic - if you want change you can believe in, you have to do it at the ballot box, not at the local credit union who, if they grow "too big to fail", will be the next corporate vermin on the bail-out list, and you'll feel stupid, and let down, because you are trying to apply emotion to a cold, emotionless numbers game. And no, don't console yourselves, don't say, "It was a good try" or "We sent a message". The only message that was sent was that people hang on the coat tails of some idea passed around on Facebook or Twitter, and didn't sit down and actually come up with a real solution. Moving some cash into a credit union... Yeah, that took the wind out of Wall Streets sails, let me tell ya...

[SteveDenver]

06:21 AM on 11/07/2011

There's so much wrong with your sarcastic post, but where you're right is that change can occur at the ballot box.

You belittle this action, but it really sounds like justification for you being lazy and smug. $100 million moved out of banks is a huge start. Why not be encouraging of a good thing?

[D-Driller]

04:42 AM on 11/08/2011

I won't encourage an absolutely useless act. In your own reply to me, you just said that the way to actually change is at the ballot. I agree. Standing in a park on Colfax is not changing anything. Moving $20 p/person to another account, with another bank, which at sometime will itself become 'too big to fail" if we don't change the system is an exercise in absolute futility. If it makes you feel better moving accounts or standing in traffic, go for it. But don't kid yourself that "your voice" is being heard from a park in Denver to Wall Street. It is not. You can get your $20 back just by opening a new account with another bank! However, if you want to change something, elect officials who will support massive bank regulation as well as a trimming down of investment vehicles (derivatives, etc) that can be traded that will actually have some impact. While you're at it, lets vote to get oil and natural gas off the commodities exchanges.

[malander]

11:34 AM on 11/06/2011

Go Colorado!