Credit Union Advocacy

Consumers, credit unions, and small businesses will lose the most if the current interchange system is changed. If you use a credit card, listen up! Interchange fees, which cover the cost of fraud detection, credit monitoring, and more, are under attack. Do you use a credit card to protect your personal information from data breaches? If this legislation passes, retailers can choose a cheaper network that makes YOUR data vulnerable to foreign networks. Our credit card interchange system works, but big-box retailers are trying to change that! Some lawmakers are looking to make changes that could impact credit card security and increase costs to small businesses. You are protected from fraudulent purchases on your credit card because of small interchange fees paid by merchants. Big-box retailers want to change that to line their pockets.

Interchange fees pay for fraud detection software, identity theft protection for affected consumers, and replacement cards. But some lawmakers and big-box retailers want to change that. Merchants include the cost of interchange fees in the products they sell. When they ask Congress to help them “save” interchange fees, they’re actually asking to prioritize their profits over consumer safety. Legislation will lead to less secure, less innovative, and higher-risk transactions for American consumers. Tell Congress #InterchangeWorks to protect consumers, small businesses and small community financial institutions.

Credit unions are a not-for-profit, financial cooperative with a mission to promote thrift and provide credit access for prudent purposes. Click the graphic to learn how we’re advancing the communities we serve. But your help is needed to protect credit unions as a smart choice for consumers and small businesses! Read more from our President/CEO, Michael Augustine on how to do that here.

The Open Your Eyes campaign helps bring awareness to credit unions as a financial option. Don’t believe the myths that you can’t join a credit union, that accessing your money would be difficult or that we’re too small! We want to be at the forefront when you’re considering financial services and products.