WEST PALM BEACH, Fla.-Other credit unions around the country have also been reporting increases in both inquiries and actual new members. Among them:
• The $345-million LA Financial CU, Pasadena, Calif., said it received 175 applications in the two weeks following the announcement by Bank of America it would implement a $5 monthly fee on debit cards. That's compared with 27 during the same period in 2010. • Credit Union of Atlanta has moved to begin offering online account opening following an increase in new members. The $71-million CU said it has grown by $4 million in assets since Aug. 30.
• The $1.8-billion SAFE CU, North Highlands, Calif., said that online account applications in the past 30 days had increased 54%, in part due to local news coverage.
• The $1.6-billion Washington State Employees CU, Olympia, Wash., reported that new accounts were up 22% as of Sept. 28 over the previous month.
• CUNA reported that the aSmarterChoice.org site saw 36,000 visitors from Sept. 29-Oct. 9, more than double the average of 16,500 monthly visitors in the previous nine months.
• In Ft. Worth, Texas, American Airlines FCU stressed that its Priority Checking account pays a premium dividend of 2.51% APY and that ATM fees of up to $20 a month are refunded by meeting minimal requirements, such as making 15 transactions a month, signing up for direct deposit and receiving online statements. "We have no intention of adding a monthly service fee or debit card usage fee to our checking accounts," said Nancy Crouch, managing director of card services.
• In Pleasanton, Calif., Patelco Credit Union has launched a campaign to let its members and the public know that it not only offers free checking and free debit card usage, but full banking services-just like the large banks-including bill pay, online banking, and investment services.
Patelco is spreading the word via its Web site, media pitches, print ads, online advertising with newspaper sites and e-mails to members. It also posted a message to followers on its Facebook page telling people to spread the word about free checking, free debit cards and a nationwide network of over 28,000 free ATMs and a branch network consortium of over 6,000 locations.
• In Jacksonville, Ark., Arkansas FCU has pledged that it will not charge any debit card usage fees for at least the next three years," said CEO Larry Biernacki.
