MANHATTAN BEACH, Calif.-The $3.3-billion Kinecta FCU saw a lot of activity on Bank Transfer Day, much of it from one determined member.
KFCU, which has 23 branches plus 12 "Kinecta at Nix" locations at the sites of a check cashing company it acquired, reported that one long-time member who was active in the Bank Transfer Day movement brought six new members to its Gardena member service center on the Thursday before Nov. 5. A Kinecta spokesperson said the member was responsible for promoting the switch for residents of the Gardena and Hawthorne areas. The group works together and carpooled in from several miles away to join.
The member told branch staff that she would be handing out leaflets in front of Bank of America on Nov. 5 in Hawthorne and escorting people over to Kinecta member service centers to open accounts.
Kinecta's Santa Monica office opened five new accounts on Bank Transfer Day. Several members mentioned that they came in to support the movement and were looking for the benefits credit unions offer over banks. Others reportedly said they were dissatisfied with the banks and bank fees.
Kinecta's Hawthorne branch opened six memberships over the weekend, with the majority of those transfers being former Chase customers. Kinecta said it has been getting a significant number of former Chase customers since summer.
"We are also starting to see more Bank of America and Wells Fargo customers convert as well," the spokesperson said. "These new members don't typically come out and state the reason they are switching to a credit union unless we ask but many have said it is due to our lower fees and better service. They are going online to find out information about us or getting a recommendation from other Kinecta members. It also helps that we are the only credit union in the area and located on a major intersection."