34% Will Transfer to Credit Union According to GoBankingRates.com Poll

Online, November 3, 2011 (Newswire.com) - In a recent study, GoBankingRates.com revealed that more than 3 out of 10 consumers will switch from a national bank to a local credit union on Bank Transfer Day in response to the big banks raising debit card fees. GoBankingRates.com enlisted a focus group of its website visitors to vote in a one-question poll about their intentions to switch from a national bank to a local credit union. The poll respondents' answers were primarily divided between current credit union members and those whose votes demonstrated the power of increased national bank fees to provoke consumers to switch to credit unions.

GoBankingRates.com' poll asked consumers to cast a vote in response to the question, "Are You Switching to a Credit Union?" The majority of GoBankingRates.com poll respondents (37%) claim they already belong to a credit union and love it. Not far behind in second place, 34% of respondents agreed they are tired of bank fees and impersonal service and they will be switching to a credit union on November 5, 2011. Still, 14% of GoBankingRates.com' polled voters plan on staying with their existing national bank.

GoBankingRates.com reaches nearly 2 million consumers each month through their extensive network of hyper local, geo-targeted sites, such as LosAngelesBankingRates.com and HoustonBankingRates.com. The consumers on these sites are interested in finding new banking products, including deposit and loan offers, from financial institutions in their community. In light of the recent national bank fee increases, consumers' have a heightened interest in joining a credit union or local bank. Many of these institutions are turning to GoBankingRates.com to increase their local web presence, gaining new consumer traffic and boosting their search engine rankings. GoBankingRates.com currently features dozens of community financial institutions on their 750 local sites.

From the month of September to October, GoBankingRates.com has seen a 58% lift in credit union related searches on their sites. Some of the top searched phrases include location-based searches for "credit union list" or "credit union locations". In addition, GoBankingRates.com is projecting a 59% increase in overall traffic led by a 15% increase in their local city-and-state site traffic.

Surges in traffic as it relates to the Bank Transfer Day are especially evident in social media outlets. Big bank protestors even created a Facebook event page for Bank Transfer Day on November 5, 2011. As of November 1st, more than 65,000 consumers have RSVP-ed with their intent to transfer. In recent CUNA news, the Credit Union Times reported that nearly 650,000 consumers have already become credit union members.

Place your vote now about your switching intentions on GoBankingRates.com site.

For more information on GoBankingRates.com.com, please email Valerie Youman, Marketing Manager, [email protected].

About GoBankingRates.com
GoBankingRates.com.com connects banks and credit unions to local consumers through their extensive web community, which includes more than 750 local city and state websites and receives more than 2 million monthly visits. GoBankingRates.com.com is one of several finance-related websites owned by ConsumerTrack, Inc. The company was founded in 2004 and drives traffic to clients through online advertising in the personal finance industries, including: banking, insurance, credit, and real estate. For more information, please visit ConsumerTrack.com.