LIVONIA, Mich. – Co-op Services CU is taking advantage of the outrage over Bank of America’s new $5 debit card fee by offering $105 payments for new checking accounts under its “Shred My Card” promotion.
The credit union said it launched a challenge to bank customers who face high debit card fees. It said the Shred My Card campaign will give people the opportunity to take their bank debit card to any Co-op Services location, open a new free checking account with direct deposit, shred their old bank debit card, and receive $105.
“Co-op Services has never charged a debit card transaction fee and offers a free checking account with no monthly fees. That's a much better deal than the outrageous fees that some banks charge, especially during difficult economic times,” said Anthony Carnarvon, president of the $400-million credit union.
“There’s a major difference here,” added Carnarvon. “The big banks will take your money for just having a checking account and debit card; we give you money.”
