More Customers Becoming Members

So first, let's have a little recap of what has happened the past few days in Young and Free world. I posted a video on Friday evening, and maybe you didn't get to see it. I'm going to be trying an experiment in March where I take a picture of everything that I eat. I will then tweet the picture and also post on the Young and Free Maine Facebook page. My hope is that more people will get involved and we can keep each other accountable for the mass amounts of garbage we eat throughout the week. You can at least yell at me (nicely of course) so I don't consume mass amount of grease. I need to fit into a suit in four months! Also, in other news, the Oscars were last night. Apparently I don't watch any movies because there was only...two that I was familiar with. I had seen one of them. So really, it wasn't overly exciting to me. Alright, back to our real blog!

I was searching the internet for fun articles about...well anything really. Some days are easier than others. In fact, some days you find a nice juicy article that just has to be shared, and today is one of those days! According to CNN Money more people are leaving their big banks as customers and joining smaller institution (like credit unions) to become members!

According to the article, last year the average defection rates for big banks ranged from 10 and 11.3 percent. That number is up from 2010. On the flip side, credit unions and small banks only lost 0.9 percent, which is a HUGE drop from 2010 where the defection rate was 8.8 percent.

So what is the reason for people dropping their banks and switching? Well, the article attributes this to a few different things. New fees are a big reason why people are heading for the door and looking for different alternatives. Another reason? Customer service also played into the equation. Makes sense doesn't it? You want to feel comfortable at your financial institution, and if you aren't getting the service you should, chances are you'll leave. Thankfully, the lovely people at Maine credit unions are all about service and will make you feel at home. Believe me on this one. I've been to quite a few of them and each time I go, I feel welcome.

You should absolutely read the article because it will put joy in your heart to know that credit unions are kicking butt right now! CHECK IT OUT!

What's your favorite thing about your credit union?

Seth P.