Corporate governance

SACRAMENTO, Calif.-The Golden 1 Credit Union is reporting "tremendous" growth in membership and new checking accounts since the beginning of October following the BofA debit fee announcement. Scott Ingram, SVP of marketing for the $7.4-billion CU, said, "We had a great Bank Transfer Day."

MANHATTAN BEACH, Calif.-The $3.3-billion Kinecta FCU saw a lot of activity on Bank Transfer Day, much of it from one determined member.

RANCHO CUCAMONGA, Calif.-Henry Kertman, a spokesman for the California and Nevada CU Leagues, noted CUNA estimated California has had the largest number of new members for any state since Sept. 29: 90,000 and $624 million in new deposits. He said the leagues estimate credit unions have been seeing 2.5 times the average number of new member sign-ups per week.

SAN DIEGO-During the California and Nevada Credit Union Leagues' Annual Meeting and Convention, Credit Union Journal asked, "Do you have a formal switch kit or do you simply have procedures in place to greet a walk-in new member?," and "How is your credit union doing for Bank Transfer Day?"

ARVADA, Colo.-Partner Credit Union here went all out for Bank Transfer Day, opening four branches that would normally be closed on Saturdays.

NEW YORK-The nation's 10 largest retail banks are at risk of losing $185 billion of deposits over the next year as customers will look to move primary accounts to community and regional banks that they perceive as being more consumer friendly, according to a new study.

ST. PAUL, Minn.-Affinity Plus FCU here was busier than normal during Bank Transfer Day, but according to one person, the day was really more of a continuation of the CU's recent membership surge.

MADISON, Wis.-Heartland CU here did a low-key push in advance of Bank Transfer Day, and much of its activity from new members came online.

WASHINGTON-In their 100-plus years of history in the United States, credit unions have never seen anything like the membership surge of the past two months.

YORK, Penn.-New business was slow but steady here early on Bank Transfer Day, as First Capital FCU saw three new members join within the first hour.

CHARLESTON, W.Va.-Not every credit union saw much in the way of transfers on Bank Transfer Day. Pioneer West Virginia FCU said it didn't see a dime of increased business.

SANTA ROSA, Calif.-Redwood Credit Union reported it saw a significant spike in new accounts over the weekend of Bank Transfer Day, with more than 600 new accounts opened on Friday and Saturday. That is six times the normal number of new accounts, the credit union said. Overall, October set a record for new accounts, up 83% over the same period one year earlier.

WARMINSTER, Penn.-Freedom Credit Union reported a 67% increase in new membership applications on Bank Transfer Day over standard Saturday volume. That represented 35 new members. The credit union had earlier announced a promotion in which it is offering to pay members $5 a month to use their debit cards when they open a new checking account.

WALL, N.J.-First Financial FCU said its parking lots "were filled" on Nov. 5 when it opened 23 new full relationships. Previous transfers were made prior to Nov. 5 and the credit union said it will continue to promote Bank Transfer Month throughout November.

TINTON, N.J.-United Teletech Credit Union placed banners on its branches and electronic signs near the road to announce that it was the "Bank Transfer Headquarters" of northern New Jersey.

PORTLAND, Ore.-More than 200 people here marched from a downtown branch of JPMorgan Chase to Northwest Resource FCU on Bank Transfer Day. Of those, 17 opened new accounts.

DALLAS-Texas Trust Credit Union offered a cure for "F.E.E. Syndrome." The credit union said "F.E.E. Syndrome" is its term "for the weariness consumers feel in the face of irritating and ever-growing number of fees that their financial institutions are imposing or increasing.

SACRAMENTO, Calif.-Schools Financial Credit Union said Nov. 5 was its biggest day for new members of 2011, and helped to cap a record October during which it opened 1,064 new accounts. Similar volumes were seen at Landmark Credit Union in Wisconsin, which said it added 945 new members, 733 of whom opened checking accounts. And in Berkeley, Calif., Cooperative FCU reported opening accounts for 316 people in October, nearly triple the number of accounts opened in October 2010.

HARRISBURG, Penn.-At Pennsylvania State Employees CU, new account sign-ups jumped by more than 50% on Nov. 5, part of a big month for membership growth.

SAN JOSE, Calif.-Sara Holtz, marketing manager with San Jose CU, said the credit union was "thrilled" with traffic on Nov. 5. "I don't know what we were expecting but it was everything we were expecting and more. We opened 30 memberships today, which is half of what we normally do in a month."