Our Credit Union needs your help.
The Senate has recently passed an amendment to the financial reform bill that will have a significant impact on how you use your debit card.  The credit union does not support this legislation, and we would like to explain why.

Each time you use your debit or credit card, a merchant is paid immediately and the credit union that issues your card receives an interchange payment. This interchange reflects a merchant's fair share of the costs of this convenient system and allows EPCU to provide a Free Debit Card Program. We are asking you to take a few minutes, following the directions below, to tell your Senators and Representatives that interchange should not be a part of the financial reform bill.

There are several important things that you should know about interchange fees:

• Interchange fees are not directly paid by the consumer; rather they are paid by the merchants, like Wal-Mart, to support the card payment system. 
• Interchange fees help us to offer our members debit and credit cards that include quality service and very attractive rates and fees. 
• Your credit union, not a merchant or store, is responsible for absorbing losses from fraud and unpaid balances associated with card programs. Interchange fees support everything from re-issuing cards compromised by merchant data breaches, to providing a call center to contact if your card is stolen, as well as many other essential program functions.  If interchange were reduced and could no longer contribute adequate support for card programs, consumers would end up paying more for their debit and credit cards.
• If the law passes as is, merchants will be able to set the minimum and maximum payment amounts when using a debit card or discriminate against certain cards all together, forcing you to carry cash or several cards to ensure you aren’t stranded at the register.

What can you do to support the debit and credit card programs at your credit union and set the record straight?

Go to: http://www.votervoice.net/Groups/INCUL/Advocacy/?IssueID=22057&SiteID=-1

Please send a message to both of your Senators and your Representative urging them to oppose including interchange legislation in the financial reform bill that would affect debit and credit card-issuing credit unions and the card payment system.