Thousands of people are saying bye-bye to banks and hello to credit unions 

If you’re a regular Saving Thousands! with Robert Palmer  listener, you know I’ve been encouraging people to say no to ridiculous bank fees and shop around for better deals.

We know people have been voting with their money and their feet, but now we’re seeing some numbers on just how many people are leaving banks behind.

According to the Credit Union National Association (CUNA), at least 650,000 consumers have joined credit unions since September 29;  that’s the day B of A announced its $5 monthly debit card fee (which it has since abandoned).

CUNA says during that same time period people have added $4.5 billion in new savings accounts.

The group says customers will save an average of $70 a year in fees, lower rates and better returns on savings accounts.

You might be surprised by another place people are turning to instead of their bank – Walmart. The retail giant has more than 1,000 Money Centers in its stores. Here, people can cash checks, pay bills, wire money or get a prepaid debit card – and do it cheaper than their bank or a check cashing joint.

Walmart charges 1% to cash a check less than $300 and a flat $3 fee for any check over $300. You can also get a prepaid debit card for $3 and pay $3 a month to maintain it; that’s far lower than what other retailers charge for the same product.

It’s another reminder to stand up for your money. When a few consumers complain, businesses tend not to care. When hundreds of thousands of people take their money elsewhere, big business has no choice but to listen. Nexflix is another good example, as about 800,000 customers decided they didn’t want to pay another $8 a month for DVD’s and cancelled their accounts.

If you’re looking for more tips “Like” the Saving Thousands! with Robert PalmerFacebook page.

Tune in Sunday at 11 am on FM 96.5/AM 580 - WDBO and learn how to Save Thousands! Our new FM signal means people as far north as Palm Coast, as far south as Vero Beach and as far west as Dade City and Ocala are now tuning in and Saving Thousands!