Students turn to credit unions to avoid big bank fees

By Lindsey Herzik

Many people, including Loyola University Chicago students, are upset with the bank bailouts and the new debit card fees, but instead of just complaining, people are taking action.

Occupy protesters, students and other and dissatisfied big bank customers are turning to community banks and credit unions for their banking needs resulting in a surge of new customers for these local banks.

“At least part of the trigger was some of the unhappiness with big banks. The fact that they were bailed out. And the fact that  some of the CEOs made very large bonuses despite the problems,” said Nicholas Lash, a finance professor at Loyola University Chicago.

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