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View Diary: Credit unions score 40,000 new accounts on Bank Transfer Day (109 comments)

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  •  Fees are huge to a bank (2+ / 0-)
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    Gordon20024, BYw

    They love return check fees.

    I was a branch manager when my S&L instituted a $1 monthly fee on savings accounts under $100. We had 50,000 small balance accounts company wide, so the total deposited was under $5 mil. But transactions? They generated 20,000 transactions a month, and if they had all been in one branch by themselves would have to have 20 employees to service them.

    A typical branch with 20 employees had about $100 million in deposits, so the small accounts with out the fees were a loser.

    Help! The GOP is NUTS (& the Dems need some!)

    by Tuba Les on Wed Nov 09, 2011 at 04:05:00 PM PST

    [ Parent ]

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