Bank Transfer Day: 650,000 Have Made the Change so Far

The movement is already working – Bank of America recently rescinded their debit card fee plan and noted that it was due to public outcry. Other banks are listening up.

Will it be enough, or are banks facing more backlash? It’s not just about the debit card fee; Bank Transfer Day is just part of the larger Occupy movement that’s been going on for months. For people living from one paycheck to the next, an account with a credit union can help with saving money more so than a bank account.

“The results indicate that consumers are clearly making a smarter choice by moving to credit unions where, on average, they will save about $70 a year in fewer or no fees, lower rates on loans and higher return on savings,” said CUNA President/CEO Bill Cheney. “Many credit unions across the nation–whether they are realizing new members or not–are making special efforts to tap the surging interest in credit unions.”