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After reading the March 31 Editor-in-Chief’s column, thought I would respond to what was said about increases in fee income as well as operating expenses.

As stated, credit unions receive interchange income from debit card transactions. We are a very small ($11 million) credit union and receive gross interchange income of around $3,000 a month. Our debit card expenses for processing, fraud and other cost are over $3,000 a month. We figure we just about break-even and give our members a nice service (until a fiasco like Heartland comes along and our operating expenses for losses go through the roof-but, I am not talking about that here).

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Peter Westerman


Credit Union Times

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