New England credit unions may see a dip in their card interchange income this quarter, according to First Data Corporation.
Snowfall helps grocery stores, food and beverage retailers, but hurts almost all other businesses.
First Data, CO-OP and The Members Group report increases in dollar volume and transactions over last year.
Hotel, travel sectors help boost spending to highest level in 13 months, says First Data.
Payments processor reports highest spending levels since last summer.
The payment processor's monthly SpendTrend report said despite the dip, overall spending remains healthy.
While card volume grew in March year-over-year, checks and prepaid card volume fell significantly during the same period.
First Data Corp. reported that January's harsh weather significantly lowered consumer spending from the previous month.
While spending dropped overall due to winter weather, retailers selling necessities and cold weather supplies saw robust growth.
Black Friday kicked off shopping spree also helped along by weather, First Data says.