Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CUNAs Cheney Transfer Day Founder Christian interviewed on iFox Businessi
WASHINGTON (11/9/11)--Consumers and media members nationwide have continued to focus on credit unions' role before, during and after last Saturday's Bank Transfer Day, and Credit Union National Association (CUNA) President/CEO Bill Cheney appeared alongside Bank Transfer Day organizer Kristen Christian to discuss the movement toward credit unions, and the value they provide to their members, in a Fox Business Channel interview earlier this week.



A CUNA survey released on Tuesday found that credit unions brought in 40,000 in new members on Bank Transfer Day, capping a month that resulted in nearly 700,000 new credit union members joining the movement. Credit unions brought in $80 million in new savings account funds and made $90 million in new loans on Saturday. (See related story: CUs add 40k new members, $80 million in savings on BTD)

"There is clearly traction here, and movement, toward credit unions," Cheney said during the interview.

Describing Bank Transfer Day as a "consumer awakening," Christian said the main motivation behind Bank Transfer Day, in her eyes, was citizens that "are tired of seeing their money used to be distributed to amongst a select group of stockholders, when those profits could easily be used to reinvest in our own communities and stimulate economic growth on the local level."

Cheney said credit unions would "build momentum" following Bank Transfer Day, and added, overall, that he sees a movement toward the nonprofit sector and cooperative businesses.

Cheney also represented the credit union view on SiriusXM Radio's Stand Up with Pete Dominick on Monday and appeared in CNN and ABC News pieces over the weekend. (See related Nov. 8 story: CUNA responds to national quest for more BTD info)

Bank Transfer Day was also covered in hundreds of national and local media outlets, from print media, to television, radio and blogs. Those outlets included MSNBC, NPR Morning Edition, Marketplace radio, The Wall Street Journal, the Los Angeles Times, The Washington Post, the New York Times, USA Today, Fox Business Network, Time, CNN.com and many others.

For more of the recent credit union/Bank Transfer Day media coverage, use the resource link.


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
3 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
23 hours ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
1 day ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
1 day ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
1 hour ago