A 10% increase in postage rates could cost credit unions $30 million annualized.
There's no Call Report data that quantifies credit union postage costs, but CUNA Vice President of Economics and Statistics Mike Schenk gathered credit union data for Credit Union Times in an attempt to quantify how the 21st Century Postal Service Act, which is currently being debated in the Senate, could affect credit unions.
S. 1789 proposes a 12% increase to first class postage stamps, but currently does not increase business class rates. However, the legislation could pave the way for future rate increases that would affect credit unions.
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