Trades' Rally Members on Interchange
The major credit union trades, CUNA and NAFCU, along with state leagues are pushing an array of online messaging formats today in challenging the interchange fee cap.
For one, NAFCU urged its members to use their own websites to drum up higher levels of public support to forestall the interchange rice cap rule and make consumers "aware of the impact this rule would have on their wallets..."
Form e-mails are not as effective as personal messages directed online or in writing from members to their representatives and senators, said NAFCU.
NAFCU President/CEO Fred Becker stressed that the trade group is joining the Electronic Payments Coalition in supporting "a number of press and advertising activities to advance the understanding of the harmful impact the interchange price cap would have on small financial institutions and consumers."
"The content of our messages is the key," said Becker, citing a new study that detailed how to reach congressmen and their staffs through "substantive messaging."
Meanwhile, the Pennsylvania Credit Union Association citing the urgency of sending comments to the Fed by the Feb. 22 cutoff date, also suggested that while "there is a sample letter for you to use, we urge you to personalize the suggested talking points with facts about your own credit unions' debit card program and costs and send it post haste via e-mail print or fax."