Today is International Credit Union Day, and local CUs have plenty to celebrate. The recent outrage over rising bank fees and spreading Occupy Wall Street demonstrations have put national financial institutions in a negative light, to say the least. All the while, local banks and credit unions are snapping up enraged customers left and right.
In fact, the growing nationwide disdain for banking giants and their excessive fees has become so great that November 5, 2011 is now Bank Transfer Day. The Facebook event page describes the purpose of this day:
“If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won’t support companies with unethical business practices.”
There are undoubtedly a number of advantages to banking at a credit union, including lower fees, personalized service and more competitive interest rates.
So we want to know, will you be ditching your bank and joining a credit union?
What Is International Credit Union Day?
International Credit Union Day is celebrated on the third Thursday of October each year. It is a day that recognizes the great work that credit unions do and raises awareness about the benefits of joining one of these financial institutions. This year’s theme is “Credit Unions Build a Better World.”
Credit unions around the world will be celebrating by hosting open houses, parades, contests, festivals and more. Find out what your credit union will be doing and show your support.
Kind of funny that no one really cared about this day until this year with all the issues around the big banks and occupy wallstreet
you realize that if everyone were to switch to Credit Union’s, they (the CU) would have to increase, staff, security, websites for the increased traffic, larger buildings or more buildings to keep it conveinent….this stuff doesn’t come for free, or just happen by magic…so their fee’s would increase. No one on a major scale is gonna switch, or atleast not enough to put a dent in banking industry. If your receiving fee’s from your bank you are probally low man on the social totem pole or lack the intellegence to properly manage your money. I have been with my bank for years, I have larges balances, not from a big business but from smart spending/saving. I have never recieved a fee of any sort…
Chris: I managed my money at a big bank, managed to maintain a humble balance with no fees and am not a financial idiot. I’m switching on principle. Not everyone a part of this movement is an idiot, and I think it will make more of a dent than you’re assuming. People are pissed and have been reluctant to act for too long.