Hundreds flocking to local credit unions after ditching big banks

Local credit unions across New Jersey have seen a spike in new customers after banks started proposing new fees on customers.Most notable was Bank of

HACKENSACK - Local credit unions across New Jersey have seen a spike in new customers after banks started proposing new fees on customers.

Most notable was Bank of America's plan to charge $5 a month to use a debit card.

The proposed fees sparked an online push for people to ditch big banks and move their money to credit unions on a day known as "Bank Transfer Day," which was today.

While Bank of America and other large banks have withdrawn their plans to charge a debit card fee, many are still moving their money over.

"Ever since the grassroots movement came into play with Facebook and through the media, we've seen a spike in our new member activity," says Glenn Guinto, Vice President of the Greater Alliance Credit Union.

advertisement | advertise on News 12

Trending Video

More than 1,000 runners dressed as Santa Claus 1 Santas run through Asbury Park for charity
VIDEO: News conference on arrest in murder of 2 VIDEO: News conference on arrest in murder of Sarah Butler
News 12 New Jersey - Weather On The 3 New Jersey Weather Forecast
As News 12 New Jersey has reported, Khalil 4 Vigil held for slain Montclair woman
5 Toys from 'Rogue One: A Star Wars Story' hit shelves

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE