As the Oct. 1 deadline for the Durbin amendment interchange cap to go into effect draws near, consultants who work with credit unions on managing their debit programs are urging CUs to focus more attention on their debit programs.

All but the three largest credit unions – Navy Federal, State Employees’ CU of North Carolina and PenFed – are exempt from the cap, but analysts contend that even those exempt CUs will see their interchange income erode under the weight of the cap’s interchange limits and processing rules. And if credit unions have not taken the steps to better familiarize themselves with their debit programs and how to manage them, how will they know how much of an erosion they are seeing in their debit income, the analysts ask.

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