Bank Transfer Day adds $4.5 billion in deposits

Bank Transfer Day adds $4.5 billion in deposits: Bank Transfer Day, the grass-roots movement that urged bank customers to switch to credit unions on or before Nov. 5, led to at least 650,000 new credit union members and a total of $4.5 billion in new deposits, according to the Credit Union National Association.

About 80 percent of the credit unions in the U.S. saw an increase in October, with 21 of 50 states and the District of Columbia having membership increases of 10,000 or more in the past month.

Nationwide, California-based credit unions saw the biggest gains, adding about 90,000 new members and $624 million in new deposits, followed by Texas credit unions, which gained $326 million in new deposits from 47,000 new members...

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