SOURCE: Co-op Services Credit Union

Co-op Services Credit Union

October 07, 2011 11:12 ET

Co-op Services Credit Union Wants People to Shred Their Bank Debit Card and Will Pay $105 to Anyone Who Does

ShredMyCard.com Website Offers Details

LIVONIA, MI--(Marketwire - Oct 7, 2011) - Following Bank of America's recent announcement that it plans to start charging customers a $5 fee every month for using the bank's debit card, Co-op Services Credit Union is challenging people to shred their bank debit cards in protest and receive $105 in the process. Details of the credit union's challenge are available at www.ShredMyCard.com.

"Our credit union has always avoided the crazy bank fees," said Lisa Fawcett, Marketing Director of Co-op Services Credit Union. "We stand with America in their outrage of this latest round of excessive fees."

The ShredMyCard.com website was launched in response to the rash of fees that have been issued by banks over the last few months. The site offers users the ability to vent their frustrations toward their bank by leaving their comments on the homepage. They can also read articles and view videos covering the latest ridiculous round of bank fees.

"People are really up in arms about this latest round of bank fees," said Fawcett, "but the fact of the matter is, Bank of America normally charges their customers between $8-$25 dollars per month just to have a checking account. The new $5 fee will be on top of that. So the total monthly fees could be far higher. Co-op Services, along with most credit unions, offer free checking and no debit card transaction fees."

Co-op Services' "Shred My Card" program gives people the opportunity to take their bank debit card to any Co-op Services location, open a new free checking account with direct deposit, e-statements and a debit card then shred their old bank debit card, to receive $105.

Headquartered in Livonia, Co-op Services Credit Union has more than 52,000 members and maintains eight full-service branch offices in the Detroit metro area. Members also have access to more than 3,000 shared branches and 28,000 ATMs nationwide. For more information about Co-op Services, visit the credit union web site at www.cscu.org or call 800.321.8570.

Contact Information

  • Media Contacts:
    Greg Wohler
    Edge Creative Group
    248-568-1444
    Email Contact

    Lisa Fawcett
    Marketing Director
    Co-op Services Credit Union
    Email Contact