SANTA ROSA -- Redwood Credit Union opened six times more new accounts than average over the so-called "Bank Transfer Day" weekend, according to a release from the credit union.
The credit union opened 600 new accounts on Friday and Saturday. The surge followed a record-setting October, when the credit union opened 83 percent more new accounts than during the same month in 2010.
The Santa Rosa-based credit union cited Saturday's "Transfer Day" event for the increase. The event supported the move from large financial institutions to local banks and credit unions, and nearly 60,000 people had "liked" a Facebook page dedicated to Bank Transfer Day as of Monday.
The Credit Union National Association said that over 650,000 people transferred $4.5 billion into new credit union accounts in the month leading to the event.
Redwood Credit Union serves 200,000 members in the North Bay and San Francisco and has $1.9 billion in assets.