Fintech

In the San Francisco Bay Area, $3.7-billion Patelco Credit Union is still seeing a “Bank Transfer Day Effect” long after the actual day itself.

NuMark CU was a big booster of Bank Transfer Day, and one year later membership has increased by more than 7%, nearly double the previous year’s gains.

Matadors Community CU has seen a slight uptick in membership and deposits this year, but is attributing that growth to savvier consumers.

A federal judge granted preliminary approval Friday to the proposed settlement of a massive lawsuit brought by retailers against Visa, MasterCard and banks that issue their cards.

Another credit union has used the kissing booth strategy as a tactic to lure consumers from banks to credit unions. Fire Police City County FCU has been running a “Kiss Your Bank Goodbye” campaign in in response to public frustration over fees at the big banks.

The $7.9-billion The Golden 1 CU has been welcoming 6,000 new members each month in 2012, which CEO Donna Bland said is a marked improvement from the 2,000 to 3,000 it used to see each month.

One year later, Bank Transfer Day is alive and kicking in South Carolina, where CUs across the state are using “Every Day is Bank Transfer Day” as a membership rallying cry.

Membership growth at $10.5-billion BECU has been up 10% to 12% year-over-year for each of the first nine months of 2012.

Affinity Plus FCU was already several months into a “Ditch Your Bank” campaign when Bank Transfer Day hit, and the event helped augment what was already robust growth.

After doing “a pretty big blitz” on Bank Transfer Day the first time around, 66 FCU here is hoping for a repeat performance this November.