While national credit union trade organizations are still adding up the numbers to determine just how good bank transfer day was for their members, a new report shows that in Texas alone over 47,000 people joined credit unions over the past month:
In protest of rising bank fees, hidden charges and profit-driven business motives, occupiers are making a collective effort to transfer their money into what they see are more ethical and trustworthy institutions.
About 47,000 Texans have joined credit unions in the past month, moving some $326 million by November 2 – four times the usual growth rate, reports the Texas Credit Union League.
Anecdotal reports from places as diverse as Charlotte, Berkeley, Los Angeles, Des Moines and Rohnert Park all tell the same tale of booming credit union growth.