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.