Record numbers of new clients have opened New Resource accounts in recent weeks, fueled by the Bank Transfer Day grassroots movement and our own Move Your Money campaign urging people to move their money out of big banks and support a bank that puts their money to use for good.
Typically, we process 40–60 new accounts per month. In October we opened 154 new accounts; the number went off the charts in the first two weeks of November, when we opened 174 new accounts. And new accounts keep coming in, even though Bank Transfer Day was Nov. 5 and Nov. 15 was the last day of our Move Your Money promotion, in which we pledged to donate $25 to one of four nonprofits for new clients who maintain their account for at least six months.
Nearly all new clients have mentioned Bank Transfer Day or our Move Your Money campaign, and we owe much of our success to current clients who referred their friends, family and colleagues—thank you!
The campaigns also doubled traffic to our website and put our bankers in the media spotlight. In early November television crews visited our Howard Street office, and we fielded interviews for TV and radio programs as well as print and online publications. The bank was profiled or prominently featured in the New York Times’ DealBook section (print and online), and Fast Company’s website showcased the bank in its Nov. 4 feature story, “The Financial Institutions Banking on Occupy Wall Street’s ‘Move Your Money Day.’”
The website NerdWallet featured a Q&A with CEO Vince Siciliano titled “The Small Bank, the Small Business and the Benefits of Thinking Local.” Local media coverage included an in-studio interview by the NBC affiliate with CEO Vince Siciliano on Nov. 5, an interview with EVP Bill Peterson Nov. 4 on KPFA’s Terra Verde program, a Nov. 7 article in the San Francisco Business Times (“’Bank Transfer Day’ Signals Shift in Protest to Deposits ”), and a spot in KALW’s live broadcast from the San Francisco Green Festival. CBS Channel 5 also sent a news crew to the bank—keep an eye out for their story.
It’s hard to know how many people throughout the country moved their money for Bank Transfer Day, and there are no counts for small and community banks, but the Move Your Money website reports that more than 80,000 people pledged to make the move, and the Credit Union National Association reported more than 650,000 new credit union accounts since September.