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And to the DC bureau and talk about tomorrow.
Tomorrow is November 5.
It is cooled or being dubbed bank transfer today and -- the -- is with us right now.
Now you're CEO of a lot Akron -- -- explain to everyone what you are the CEO of but.
These are basically Maryland and DC credit unions correct.
I guess they are -- CEO of the pan American health organization World Health Organization credit union.
And also chairman of the -- in DC credit union association on board of directors.
OK and so EU.
You also very much so we believe that consumers have a choice and have a good choice and certainly in credit unions and this is a time for consumers to take action and really investigate the other options that are there for them for for their financial welfare.
OK so let's talk about the pros and cons credit unions and not to -- -- remembers this all started when Bank of America decided to charge.
-- five dollar fee monthly fee.
To its -- users.
Just basically for accessing their money so everything if you use your debit card even once during the month.
Bank of America was going to charge you a five dollar fee for that now.
Bank of America has -- since rescinded that five dollar -- they took -- back but in the process these.
Grassroots day was created November 5 bank transfer day.
And really to push to get of the big banks into the smaller credit union so sir can you explain the benefits of being with a credit union.
Are sure there is government -- many benefits -- primarily is is really our business model the business model is the fact that -- Canadians are owned by its account holders.
To our shareholders are the people have accounts with us which is obviously a very much different business model than what you see in the in the on the banking side.
Cycle is credit unions can offer lower rates on loans.
Better dividend -- better rates on deposits and now we have less these.
OK but what about the argument then that.
Pay my bills online it's sometimes hard to get to a credit union like for instance that you we have one in our building and -- -- need to get here on the weekends like the buildings closed.
Well that's that that's that's that's -- that's actually you know -- -- stated information me from.
-- today you'll find in many many credit unions offer all the same array of products and services as any any of the banks.
We offer -- home banking.
Internet banking we offer -- and an -- -- Auto loans credit cards home mortgages student loans and many -- they're even offering our small business lending.
With regards to convenience.
Even myself -- -- CEO of a small one off this credit union but my members have access to.
Locations across the country where they can make deposits and transaction -- my accounts.
They also have 28000 ATM locations at no charge that they can use.
And again 28000 compare that to Citibank.
We have been equal number of access points as they do across the United States.
-- -- But there -- part of I mean I know I've talked to people here who are members of -- unions who say they cannot bill pay with their credit union -- that.
They only have limited access and things like that so not all of them have these services.
Now that that's that's exactly -- correct not not all the credit unions have all the services but there is a majority of credit unions that do and there's certainly options as well on the credit an industry that you couldn't -- belong to more than one credit union -- find the one that best suits your financial needs.
OK now let's talk about the perks of being with a big bank there are perks I mean there's a lot of you know there's branches everywhere you go there's an online system is really sophisticated I could get it on my phone my android and -- things like that.
I mean -- there are technological advances to being with a big bank.
Well I -- disagree with Eli offered to you that credit unions today can compete head to head with any of the big banks when it comes through that and technological services and that's the way you -- back with some institutional.
You can find.
-- of credit unions including my my credit and who's.
You know I was much smaller than the Bank -- -- were Citibank or any of the large players and you know you can you can you can you can -- that you can have Internet -- you can have.
You can use your iPhone and Droid on technology you can scan your checks and -- those assertions that are being offered today by credit unions.
When like -- spent.
Is there Placer be able to -- they can find a credit union that hasn't things they need.
Yes there is there is website called a smarter choice dot org.
And that's basically put in your zip code that I believe and then they'll find you credit unions that in -- -- that you may be able to join.
Also -- -- -- more of our credit unions are regulatory agency has a good website for with a lot of good consumer information called -- -- dot gov.
Dig in and offers a good consumer information.
Mind and seeing.
Today and nationalist -- national city administration has -- -- but.
But a smarter choice stuck -- is again a good good place for consumers to find multiple credit union.
So then -- -- what's argument.
It -- an occasion there's a fantastic why are people still with so many people still a big banks.
Well I I think -- I think you're seeing a move I think a thing a lot of movement right now I think consumers are tired of the kind of the arrogance are seeing from big banks indeed the tired of the greed did that profits CX this process the bailouts.
And you've seen not just in the last month -- -- BankAmerica announced their feet over 690000.
New accounts were opened a credit unions.
Across the country and -- that that's more in one month than we had all of all of last year.
So you're -- the movement -- -- in this area here I've got a credit is reporting a 45% increase in second accounts opened over the last month.
So consumers are are seeing other difference are -- -- to have a choice and and they're gonna do with the something about it.
Hey will you certainly are you get a word out there Miguel -- thank you so much for being with us chairman of Maryland and DC credit union association data DC thank you -- The thank you very much basic tomorrow again as national transfer day in November -- checking out before you make the switch.
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