Business is good for local credit union - KWWL - Eastern Iowa Breaking News, Weather, Closings

Business is good for local credit union

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WATERLOO (KWWL) -

If you're fed up with your bank you can vent your frustrations on Saturday. It is "Bank Transfer Day."

A Facebook group is encouraging people to ditch the big banks for smaller ones and credit unions. So far more than 76,000 people on the site have pledged to move their money and they are not alone.

According to a survey by the Credit Union National Association, it says at least 650,000 people have switched to credit unions since several big banks announced plans to add on debit card fees.

Officials with Veridian Credit Union, which is based in Waterloo, say they have seen an increase in customers over the past year.

"The thing that we've see most is just more of a recognition of the credit union movement and awareness the credit unions can be a trusted partner out there in the community and that credit unions are available to most anybody within the community," said Vice President of Branches for Veridian, Mark Koppendryer.

Officials with Veridian say they have around 160,000 members and 25 branches. Their 26th branch will open in Coralville at the end of the month.

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