Corporate governance

WINSTON-SALEM, N.C.-Break-ups aren't always a bad thing. That's what Members CU here learned during October when its "Break Up With Your Bank" campaign increased membership by 83% over the previous month.

LAS VEGAS-Just two days after Bank Transfer Day, Credit Union Journal asked attendees of the Credit Union Executives Society's CEO/Executive Team Network conference how much activity their credit unions saw?

SAN LUIS OBISPO, Calif.-Bank Transfer Day was a mixed bag for small credit unions in the Golden State, as most did not have the resources to launch marketing campaigns.

WEST JORDAN, Utah-Despite Bank of America's attempt to wave the white flag by rescinding its $5-per-month debit card fee, consumers poured into Mountain America CU here.

RENO, Nev.-Dennis Flannigan, president and CEO of $103-million Great Basin CU in Reno, Nev., said on normal Saturday it might get five or six new accounts, but on Nov. 5 it had 18 new accounts plus six current members added checking accounts.

SAN DIEGO-San Diego County Credit Union combined Bank Transfer Day with a "Shred Your Big Bank Debit Card" promotion.

VENTURA, Calif.-The $542-million Ventura County CU opened 315 new accounts on Bank Transfer Day. The credit union is usually closed on Saturdays, but increased its hours in response to consumer demand.

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."

MANHATTAN BEACH, Calif.-The $3.3-billion Kinecta FCU saw a lot of activity on Bank Transfer Day, much of it from one determined member.

RANCHO CUCAMONGA, Calif.-Henry Kertman, a spokesman for the California and Nevada CU Leagues, noted CUNA estimated California has had the largest number of new members for any state since Sept. 29: 90,000 and $624 million in new deposits. He said the leagues estimate credit unions have been seeing 2.5 times the average number of new member sign-ups per week.

SAN DIEGO-During the California and Nevada Credit Union Leagues' Annual Meeting and Convention, Credit Union Journal asked, "Do you have a formal switch kit or do you simply have procedures in place to greet a walk-in new member?," and "How is your credit union doing for Bank Transfer Day?"

ARVADA, Colo.-Partner Credit Union here went all out for Bank Transfer Day, opening four branches that would normally be closed on Saturdays.

NEW YORK-The nation's 10 largest retail banks are at risk of losing $185 billion of deposits over the next year as customers will look to move primary accounts to community and regional banks that they perceive as being more consumer friendly, according to a new study.

ST. PAUL, Minn.-Affinity Plus FCU here was busier than normal during Bank Transfer Day, but according to one person, the day was really more of a continuation of the CU's recent membership surge.

MADISON, Wis.-Heartland CU here did a low-key push in advance of Bank Transfer Day, and much of its activity from new members came online.

WASHINGTON-In their 100-plus years of history in the United States, credit unions have never seen anything like the membership surge of the past two months.

YORK, Penn.-New business was slow but steady here early on Bank Transfer Day, as First Capital FCU saw three new members join within the first hour.

CHARLESTON, W.Va.-Not every credit union saw much in the way of transfers on Bank Transfer Day. Pioneer West Virginia FCU said it didn't see a dime of increased business.

SANTA ROSA, Calif.-Redwood Credit Union reported it saw a significant spike in new accounts over the weekend of Bank Transfer Day, with more than 600 new accounts opened on Friday and Saturday. That is six times the normal number of new accounts, the credit union said. Overall, October set a record for new accounts, up 83% over the same period one year earlier.

WARMINSTER, Penn.-Freedom Credit Union reported a 67% increase in new membership applications on Bank Transfer Day over standard Saturday volume. That represented 35 new members. The credit union had earlier announced a promotion in which it is offering to pay members $5 a month to use their debit cards when they open a new checking account.