Customers Vow to Ditch Banks for Credit Unions on Saturday

Dallas credit union expects full lobby on "Bank Transfer Day"

North Texas credit unions say they expect big crowds Saturday.

Banking customers fed up with fees have declared Saturday "Bank Transfer Day." Close to 79,000 people on Facebook have vowed to take part in the event and close their bank accounts to transfer the money to a credit union.

Representatives of one Dallas credit union said it is expecting its lobby to be full of customers looking to make the switch.

"I think a lot of people are upset," said Jennifer Maraboli, of Neighborhood Credit Union. "I think this is an opportunity for people to find out about credit unions and how we can help."

Customer Erick Jackson said he is tired of dealing with banking fees.

"Smooth transition, that's all I want," he said. "I just want to put my money in my savings or checking. I just want to come in and boom, it's there. There's no late fees on it."

Unlike credit unions, banks across the nation are vowing to add on fees or hike up loan rates.

However, financial experts say there are things to consider before moving your money.

  1. Credit unions don't have as many branches or ATMs.
  2. Their hours normally aren't as friendly.
  3. Credit unions often mean more work when it comes to bookkeeping.
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