11/04/2011 11:30 am ET Updated Jan 04, 2012

Local Credit Union Membership Spikes With 'Bank Transfer Day'

Credit unions are reporting huge bumps in business as people pull their money out of banks and put it into non-profit credit unions. The movement, which grew out of the scathing reaction to Bank of America's since retracted decision to charge for debit card use, has declared Saturday "Bank Transfer Day."

The day's Facebook page, which has over 75,000 "attendees," says: "If we shift our funds from the for-profit banking institutions in favor of not-for-profit credit unions before this date, we will send a clear message that conscious consumers won't support companies with unethical business practices.

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