Add another credit union to the list of those offering consumersan alternative to bank-issued debit cards which often have feesattached.
|The 86,000-member, $825 million Arkansas Federal Credit Unionhas announced that it will not impose any fee for using a debitcard for at least three years.
|“We currently do not have any plans to charge a debit card usagefee now or anytime in the future…in fact, we'll go one step furtherand guarantee no debit card usage fees for at least the next threeyears,” said Larry Biernacki, CEO at the Jacksonville-basedinstitution.
|“As long as I'm in charge, no Arkansas Federal member will pay amonthly fee to use our debit card,” Biernacki said.
|“We're a member-owned financial cooperative. It doesn't makesense for us to charge our members a fee for monthly debit cardusage,” he added.
|In the wake of the announcements of debit card fees by manybanks, credit unions across the country have adopted a wide variety of approaches to welcome consumers seeking free orreduced fee products and services.
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