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While Bank of America and other large banks have withdrawn their plans to charge a debit card fee, many are still moving their money over.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