Special Topic

40,000 Americans Joined Credit Unions On ‘Bank Transfer Day,’ 24 Times The Usual Rate

ThinkProgress reported last week that 650,000 Americans joined credit unions over the past month, more than in all of 2010 combined. On Saturday, activists across the nation rallied Americans to move their money from the nation’s big banks to community banks and credit unions.

Now, the Credit Union National Association (CUNA) reports that 40,000 Americans joined credit unions this past Saturday, adding $80 million in new savings account funds. That’s a rate 24 times higher than the average day in 2010, when 1,643 people joined.

If you are interested in moving your money from one of the nation’s big banks to a community bank or credit union, use the Banxodus tool here.