New York Credit Union Sees 50% Increase in Free Checking Accounts Due to Bank Transfer Day Movement

PEARL RIVER, NY--(Marketwire - Nov 4, 2011) - Palisades Federal Credit Union, the largest Rockland County based Credit Union, has experienced accelerated checking account growth in recent weeks benefiting from the "Bank Transfer Day" movement. Fifty percent more individuals opened a new checking account at the NY Credit Union in October than in any other month of the year.

Tomorrow, November 5th 2011 has been dubbed "Bank Transfer Day" by the movement's founder Kristen Christian, an art gallery owner from Los Angeles, California. The consumer activism initiative calling for a voluntary switch from banks to not-for-profit credit unions has drawn more than 40,000 supporters on its Facebook page, the encouragement of the "Occupy Wall Street" protesters and most importantly, countless individuals who are taking action and opening checking accounts at local credit unions nationwide.

"We have nothing against banks and value their contribution to the local economy," explained Anthony Pili, Vice President of Sales and Marketing for Palisades Federal Credit Union. "The recent grass roots movements have definitely heightened Credit Union awareness and informed consumers that they do have options when it comes to where they bank." The Rockland County based Credit Union has been offering free checking since its inception in 1941 and as an added benefit, will be paying a $150 bonus to any new member who opens a free interest checking account on November 5th. For more information on this account, visit the credit union's website: www.palisadesfcu.org

About Palisades Federal Credit Union

Headquartered in Pearl River, NY, Palisades Federal Credit Union (www.palisadesfcu.org), with more than $150 Million in assets, is the largest Rockland County based Credit Union. The New York Credit Union operates 4 branches and provides full service banking products and surcharge-free access to over 45,000 ATMs and 4,000 branches nationwide. Credit Union membership and Credit Union loans are open to anyone who lives, works, studies, volunteers or worships in Rockland County, NY.