Big Bank Debit Fees = CU Boon Posted by AVCU on 11:17 AM

As consumers and politicians reel from news of new big bank fees, like Bank of America's new $5 per month debit card fee, credit unions are reaping rewards with various efforts to draw those disgruntled consumers to their branches. 


Take Randolph Brooks FCU in Texas, for example. The credit union ordinarily pays free checking account customers 10 cents for every purchase they make with their Freedom Check Card. Last week the credit union upped the ante by bumping that reward up to 15 cents per debit card purchase through 12/31. The credit union has seen a 76% increase in its usual rate of member growth since the Bank of America's announcement.