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."
"In October, our membership grew 25% over September and our net checking accounts grew by 82%. But, on Bank Transfer Day, membership growth was 122% higher than our average daily membership growth in October and 169% higher than the daily average in September," he said. "That Saturday was very busy for us. We saw new members in each of our 83 branches across the state. And, we expect that the movement from banks to credit unions will continue as more consumers become aware of the better choice that exists with credit unions such as Golden 1."
