Bank Transfer Day has come and gone -- so what happened?
According to the Credit Union National Association (CUNA), plenty of consumers moved their accounts from banks to credit unions. The idea behind Bank Transfer Day is to switch to local institutions that ideally treat their customers and community better than the competition.
CUNA reports that credit unions opened accounts at an extraordinary pace:
"The build up to Bank Transfer Day saw around 650,000 people join credit unions in the last month, adding $4.5 billion in new savings into credit union coffers. The 650,000 total tops the membership total recorded in all of 2010"
These are impressive results. However, credit unions still play a small part in consumers' lives. Ken at DepositAccounts.com shares how assets at the top 20 credit unions stack up against a few of the largest banks.
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