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					Customers Heading To Credit Unions and Smaller Banks After Debit Card Fees | ABC 6 WJBF-TV




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     Customers Heading To Credit Unions and
     Smaller Banks After Debit Card Fees
          Recommend                You recommend Customers Heading To Credit Unions and Smaller Banks After Debit
                                   Card Fees · Admin Page · Insights · Error




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       Customers Heading To Credit Unions and Smaller                                           Ratings    |   24 Video Views
       Banks After Debit... (Added: October 06, 2011)                                                                                  More Ways to Connect
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       A story now that's going to hit many of you in the wallet. Free
       checking accounts are soon becoming a thing of the past, as many
       banks are adding fees if you use your debit card. WJBF News                                        » View More Videos
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     By: ARCHITH SESHADRI
     Published: October 06, 2011

     » 0 Comments | Post a Comment



     Augusta, GA -- A story now that's going t o hit
     many of you in the wallet.




http://www2.wjbf.com/news/2011/oct/06/customers-heading-credit-unions-and-smaller-banks--ar-2518778/[10/14/2011 2:50:39 PM]
Customers Heading To Credit Unions and Smaller Banks After Debit Card Fees | ABC 6 WJBF-TV




     Free checking accounts are soon becoming a thing
     of the past, as many banks are adding fees if you
     use your debit card.

     Some customers say those fees are prompting them
     to switch to other banks or credit unions.

     According to the National Credit Union Administration, there are 91million credit union members and a
     spokesperson says it’s a growing trend with an average of 1 million new customers every year.

     Change is something Bob McCarthy avoids. He’s a regular at Augusta Metro Credit Union -- where he
     doesn't have to pay a fee to have an account or use his card.

     "I drive about 35 miles close to Johnston, SC. we've been banking for this banking at this branch for 19
     years,” said McCarthy.                                                                                             Popular Topics

     The Vice President of Augusta Metro Credit Union says she’s noticed more customers especially in the last          law_crime wjbf education
     few months.                                                                                                                                  human interest
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     "Georgia credit unions have a seen a 2.4% in membership this year compared to a 1.4 increase last year.                                    chief environment       politics
     Augusta metro has seen a 4.5 % increase,” said VP of Augusta Metro Credit Union, Paula Kitchens.                   south carolina america richmond county officer
                                                                                                                        county sheriff business_finance howard willis mayor
                                                                                                                        social issues technology_internet atm jackson middle school
     "I think a lot of them are going to be switching because the credit unions and small banks because the                           jillian benfield weather

     larger banks are getting ridiculous in their fees,” said McCarthy.

     But it’s not just credit unions seeing an increase. Many smaller banks say they’re getting new customers.
     The president of Georgia Bank and Trust says many big banks are charging fees to make up for losses
     because of new federal regulations.

     "It's a cost for banks because they have to come up with a way to replace the revenue,” said President of
     Georgia Bank and Trust, Dan Blanton.

     "That's ridiculous, when they charge some of the fees like they do, some of the banks, it's ridiculous,” said
     McCarthy.

     Banks lose about 20 cents loss per transaction, which amounts to billions of dollars lost every year.

     "Big banks offer some very good advantages too. If you travel across the country, you can bank with them
     all over and that's a great benefit,” said Blanton.

     Wells Fargo will charge a $3 a month fee and Bank of America and Sun trust Bank will charge a $5 a
     month, regardless of how often you use your debit card. But not all banks charge the fee - some are just
     testing it out and some may even drop the fee if you keep a high enough balance.


          Recommend                You recommend Customers Heading To Credit Unions and Smaller Banks After Debit
                                   Card Fees. · Admin Page · Insights · Error
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                                           View More : Augusta Metro Credit Union, Banking, Bank Of America,
                                           Big Banks, Bob Mccarthy, Business_Finance, Cent, Dan Blanton, Georgia,
                                           Georgia Bank, Johnston, National Credit Union Administration, Paula
                                           Kitchens, President, Spokesperson, Sun, Vice President, Vp, Wells Fargo




http://www2.wjbf.com/news/2011/oct/06/customers-heading-credit-unions-and-smaller-banks--ar-2518778/[10/14/2011 2:50:39 PM]

				
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