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.
PSECU opened 153 new accounts, compared with its daily average of about 100, explained CEO Greg Smith. The CU also experienced the a 50% increase in its monthly new member total, opening 3,012 new accounts in October compared with 2,017 for the same period last year.
"I'm optimistic that Bank Transfer Day has raised awareness among consumers that they have choices and that credit unions are by far the better choice when it comes to banking services," said Smith. "Banks have a profit motive that drives their pricing. There's a significant difference with credit unions being non-profit and it works to the consumer's benefit."
The $3.8-billion credit union paid staff overtime to come in on Nov. 5 (
