Credit unions see huge spike in business due to debit-card fee backlash ahead of ‘Bank Transfer Day’

Bank of America’s now-scuttled plan to charge customers a $5 monthly fee to use their debit cards has created a huge backlash.

Consumers fed up with being nickel-and-dimed by big banks have made these boom times for the nation’s credit unions.

The not-for-profit cooperatives, which are owned by their members and often offer better interest rates on free checking and savings accounts, have enjoyed a huge boost in business in the past month — thanks to the backlash against Bank of America’s now-scuttled plan to charge customers a $5 per month fee for using its debit card.

Credit unions have added about 650,000 new customers — and $4.5 billion in deposits — since Sept. 29, after Bank of America said it would begin charging the fee, according to the Credit Union National Association.

“These are very good times for credit unions,” said Kirk Kordeleski, CEO of Bethpage Federal Credit Union, one of Long Island’s largest with 24 branches and $4.4 billion in assets.

“All this conversation about fees has led to a lot of opportunity for us,” said Kordeleski, who saw a 60% hike in new members in October, to 1550 from 925.

That number is sure to grow Saturday if frustrated consumers follow through on their promise to ditch their current banks and move their money into credit unions, in a grass-roots movement dubbed “Bank Transfer Day” that boasts a Facebook page with 80,000 supporters.

Bethpage Credit Union will celebrate the “Day” by offering $100 to new members who open accounts and

“People are saying, ‘Enough is enough,’” said Kordeleski.