CU Gets Cold Shoulder on Bank Cooperation
When it comes to the interchange battle, the national spin may be that banks and credit unions can cooperate to defeat the Durbin amendment, but if Texas is an example, that job may be easier said than done.
For one, the $2.8 billion SACU of San Antonio said its vice president of corporate relations, Yvonne de la Rosa, made a grassroots contact with her counterpart at a local bank about "joining together" in the interchange blitz led by CUNA, NAFCU and the Independent Community Bankers of America.
However, the offer to "have San Antonio representation of financial institutions" during next week's impromptu Hike the Hill fly-in orchestrated by CUNA was turned down.
De la Rosa said, "we felt strongly that local financial institutions could follow the example of CUNA, the Texas Credit Union League and the Independent Bankers Association of Texas in opposing the Durbin interchange provision."
De la Rosa declined to identify the bank, which spurned the offer maintaining "we want to work together in the future on issues of common interest." She said she has extended a second bid to another local bank, also unidentified and so far "we haven't heard back."
De la Rosa, as SACU's advocacy representative along with CEOs of many Texas CUs, took part in a previously scheduled Texas Hike the Hill two weeks ago at which interchange was discussed and it was uncertain how many CEOs from that state would now join a second trek on June 8-9.