USA - Big Banks Losing Customers to Credit Unions - between September 29 and the first week of November, 650,000 customers joined

Uploaded by FinancialNewsOnline on Dec 2, 2011

Customers are fed up with doing business with big banks are finding it difficult to break ties with them. Fees for cashiers checks, fees for closing an account that's been open less than 90 days and being asked to meet with a personal banker prior to closing their account are some of the ways big banks have gotten in the way of a customers' ability to leave and put their money into a credit union. Despite these snafus, between September 29 and the first week of November, 650,000 customers joined credit unions. Big banks do not expect these withdrawls to significantly disrupt them since they are awash in deposits. It also remains to be seen if the customer service given at credit unions will be better since they offer less locations and rarely offer extended hours.