Welcome to Americo Federal Credit Union
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Rates as low as 3.99% APR*
July 1, 2010 ~ July 31, 2010
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APR=Annual Percentage Rate.
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4/24/10
WE NEED YOUR HELP
Your Credit Union Debit Card
The Federal Government is voting on a bill that will limit interchange income for all credit unions and banks, costing Americo FCU - and ultimately our members - a lot of money.
When merchants accept debit or credit cards as a form of payment, they are paid immediately, and they do not have to deal with cash or wait for a check to clear. The interchange that the merchant pays is a cost the merchant pays to card issuers (financial institutions) for the convenience of accepting debit and credit cards - it is their cost of doing business. This income allows the credit union to cover our cost of offering debit and credit card programs. These costs include fraud protection and monitoring, card issuing and reissuing, transaction processing, security and general card maintenance. A reduction in interchange rates will adversely affect debit card programs.
The Financial Regulatory Reform Bill that is being reviewed by Congress has an amendment that will mandate price controls on interchange fees paid by merchants for accepting debit cards, a move that will severly hurt smaller community banks and credit unions.
Americo FCU encourages you to contact our lawmakers to have them remove the interchange amendment from the Financial Regulatory Reform Bill. There are a few ways to make your voice heard:
Together we can urge Congress to make the right changes to the Financial Regulatory Reform Bill, so we can continue providing you the premium card services you deserve.
6/14/10
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EAST OFFICE
4101 Main Street
Erie, PA 16511 |
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WEST OFFICE
2545 West 23rd Street
Erie, PA 16506
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