Forty Thousand People Switch to Credit Unions
By: Stephanie Castillo
Updated: November 9, 2011
More than 40,000 people switched to credit unions on this past Saturday, as part of a movement called "Bank Transfer Day."
It started with anger over proposed fees at Bank of America and other big banks that wanted to charge debit card users.
The banks changed their minds on the fees, but resentment had some ready to leave.
The Credit Union National Association says in the past five weeks, an estimated 650,000 people joined credit unions, which often have fewer or lower fees.
