SC credit union sees rise in membership thanks to Occupy Wall Street protests

COLUMBIA (WACH) -- Some financial institutions in the Midlands feeling the impact of last weekends Bank Transfer Day, that was prompted by angry consumers across the nation.

The president and CEO of Palmetto Citizens Federal Credit Union says he TMs noticed plenty of customers opening up an account with them.

He says because credit unions are owned by members, account holders could get better rates on loans and credit cards.

The Bank Transfer Day took full speed ahead after the rise of the Occupy Wall Street protests.

"I really do believe that in these very difficult economic times the consumers do not want to be in position to have to pay more for financial services, to enrichen the bottom line of the bank. People are just looking for a better deal, says Nick Wodogaza, President & CEO, Palmetto Citizens Federal Credit Union.

Wodogaza says to date Palmetto Citizens Federal Credit Union has nearly 51,000 members.