Facebook group calling on people to transfer money out of banks and into credit unions

(WXYZ) - A new Facebook group is calling for people to transfer money out of for-profit banks and into not-for-profit credit unions. They've declared Saturday, November 5 " Bank Transfer Day ."

The group was started in response to some banks' recent decision to start charging a monthly debit card fee.

The new fees were not well received and Bank of America is one of the banks reportedly rethinking its plan in response to the widespread consumer anger.

The National Association of Federal Credit Unions says it's seen a huge jump in traffic to its credit union locator site, CULookup.com . The organization says it saw a 350 percent increase in the two weeks since Bank of America and other banking giants announced plans to begin assessing debit-card and checking fees.

 

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