Credit/Debit Fees Legislation

Recently legislation has been put together which could dramatically affect our members as well as Extra Credit Union and every other financial institution in the country.

The issue revolves around debit and credit card fees. Presently retailers pay a small fee every time you use a credit or debit card, but retailers have joined forces to pass legislation that would make those fees the responsibility of either the issuing financial institution or the cardholder themselves.

As you could imagine, this change would dramatically impact the cost of both issuing and using debit and credit cards.

LUCKILY, we live in a democracy and have the ability to stop this law from passing! We are urging our members to follow this link and fill out the email template to express your objection to this legislation. All emails must be sent by November 2, so please do not hesitate to take action!

Again, be advised that if this law does pass, cardholders may need to pay fees for their debit and credit card transactions, or financial institutions will be forced to consider no longer offering debit and credit cards. This is a serious issue that we hope to stop before it becomes a reality.

Thank you for your support in this matter.