Updated 10/21/2011 08:58 AM
Credit union: Don't have to 'Occupy' to send a message
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The crowds are much smaller, but two weeks after Occupy Austin began, the dedicated few remain out there speaking with voices, signs and their wallets.
Occupy Austin organizers say the local protestors have pulled a combined $162,000 out of national banks and deposited into local credit unions.
At least one credit union is capitalizing on the protest. Velocity Credit Union produced a commercial saying “you don't have to Occupy Wall Street to send a message" and encouraging national bank customers to make the switch to their credit union.
When shown to the protesters themselves, the commercial received mixed reviews.
"I don't think they should be doing that. I don't believe that this is a movement that corporations should be tapping into," protester Brett Skaggs said. "We don't want to make this movement commercial or advertising benefit for some other company; I just disagree with what they are trying to do."
While Skaggs disagrees, others are happy to see a local business take on their cause, regardless of their motives.
Kathy Glover pulled her money out after banking with a major chain for more than 30 years.
"I think it is a great ad,” protester Kathy Glover said. “I think it is a pretty wise option. It is reminding people that you can make a difference with your everyday life and the choices that you make, where you bank."
Even Credit Unions not running commercials that reference the protests say they're seeing a difference.
"What we have seen since the first of the month when these fees were first announced we're seeing an uptick in our branch in the sense of new accounts activity," Paul Trylko, president and CEO of Amplify Federal Credit Union, said.
Trylko said they are seeing more business—about 35 to 50 percent more accounts a month—but not because of the protests.
"We have been having a lot of questions, specifically from our members, about these fees and ‘Are you going to be charging them?’ and of course are answer is ‘No,’" Trylko said.
Whether for fees or to make a statement, he said the end result is more business for credit unions.
YNN reached out to several credit unions in Austin, including Velocity Credit Union who did not get back to us. An employee at "Austin Federal Credit Union" said they have not been impacted by the Occupy Protesters.