BOCA RATON, Fla. – Bethpage FCU continues to average more than 550 new checking accounts per week, volume it credits to momentum built in the weeks and months leading up to 2011’s Bank Transfer Day.
SVP Bob Hoppenstedt said the “lifetime no fees” pledge that Long Island, N.Y.-based Bethpage made in response to Bank of America’s once-proposed $5 per month debit fee has created new account volume that shows no sign of abating. “We did constant advertising for the no-fee guarantee,” said Hoppenstedt. “We wouldn’t let it go. It remains relevant with big banks charging fees. We were doing 300 checking accounts per week; now we’re doing about 550 per week. For us, Bank Transfer Day has really become Bank Transfer Season.”
Hoppenstedt’s comments came during CO-OP Financial Services’ THINK 12 Conference here.
