November 4, 2011 11:35 AM

Some Californians switching from banks to local credit unions

Fed up with rising fees, frustrated customers of national banks are closing their accounts. In particular, credit unions – which are nonprofit organizations – are benefiting from the consumer frustration, with an estimated 650,000 people joining credit unions nationwide since Sept. 29 and shifting $4.5 billion into new savings accounts, according to the California Credit Union League.

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