USF Federal Credit Union Celebrates National Bank Transfer Day

TAMPA, Fla., Nov. 9, 2011 /PRNewswire/ -- In September, some major banking institutions announced a plan to implement monthly debit card fees after a legislation-- protecting bank customers from exorbitant fees-- was enacted. The announcement of debit card fees sent a surge of protests throughout various parts of the United States. An aftermath of angered consumer reactions prompted the creation of National Bank Transfer Day on November 5—a day when thousands of bank customers are projected to make the switch from banks to credit unions.

"The whole brouhaha with bank fees and seeing new bank regulations evolve has been interesting, to say the least. Banks have left their customers with a sense of instability. I don't believe suspending the plan to charge debit card users will dramatically sway the opinions of bank customers intending on making the switch to credit unions," stated Richard Skaggs, CEO of USF Federal Credit Union (USF FCU).

In recent news, some of the biggest banks have recalled their plan for charging debit card users. Before abandoning the plan completely, some banks were testing the idea of reducing the debit card charges by two dollars, but still pursuing debit card charges as a way to make up for monetary losses.

The volatile climate of banks and their fees is not a new concept to the Tampa-based credit union. USF Federal Credit Union launched a campaign in the summer of 2011 titled as BullsRunfromBankFees.Com. This campaign leveraged USF bull mascot and illustrated one of the key differences between excessive bank fees and credit unions' minimal fees. Credit unions are not-for-profit institutions, so any fees charged directly benefit members after paying overhead costs. Another similar conglomerate campaign for credit unions in general is a viral campaign titled BetterNameForBanking.Com.

National Bank Transfer Day will help bank customers worldwide commit to credit union leadership—a change that research has shown is thought of as being challenging, yet is a very simple procedure. The event is the first of its kind to have an influential effect on bank customers who are daunted by increasing bank fees. USF Federal Credit Union's main campus and the location in new Tampa will open their doors, with extended hours, this Saturday, November 5th, from 9 A.M. to 4 P.M. for National Bank Transfer Day. USF Federal Credit Union invites employees, staff, faculty, students and alumni to open an account to become a member. Family members are also eligible to join.

USF Federal Credit Union is a leading financial institution serving the faculty, staff and students of the University of South Florida. Additionally, USF Federal Credit Union membership is open to organizations that have employees on the campuses of the University of South Florida, members of the Alumni Association and family members. USF Federal Credit Union offers a wide range of financial services and participates in the Shared Services Network which allows access to branch locations nationwide. USF Federal Credit Union was chartered in 1959 and deposits are federally insured by the National Credit Union Administration.

To learn more about USF Federal Credit Union, contact them at 813-569-2000, or visit them at www.usffcu.org or at www.bullsrunfrombankfees.com  

SOURCE USF Federal Credit Union

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