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LSCU wraps up interchange district visits; Washington up next

With federal lawmakers home this week for the Memorial Day holiday, LSCU credit unions made visits in Alabama and Florida to lay out how the interchange amendment in the Senate bill would adversely affect members and consumers. Florida panhandle credit unions met with Rep. Allen Boyd (D-FL) for 30 minutes Thursday. Rep. Boyd was very engaged in the conversation and asked the various credit unions leaders from Florida Commerce, Tyndall, Envision and Community South how this amendment would impact members. Jim Warren, Tyndall CEO, told Rep. Boyd about the monetary commitment it takes to run a card business and the risks involved. Cecilia Homison, Florida Commerce CEO, put it best, "We stand between the merchant and that risk."

LSCU credit unions made a number of other visits during the week including 45 minutes with the Ranking Republican on the House Financial Services Committee Spencer Bachus (R-AL). Attention now turns to Washington D.C. and next week's Hike the Hill on interchange. If your credit union can go to Washington next week, please get in contact with Grassroots and Political Action Coordinators Robbie Gordon (Alabama) at 866.231.0545 ext. 2164 or Justin Thames (Florida) at 866.231.0545 ext. 1010.

Credit unions are also urged to continue asking staff, board, members and friends to call their lawmakers and let them know interchange will be harmful to members and consumers. Call 877.223.5275 and put in your zip code and the service does the rest. Credit unions can also contact their lawmakers through email by clicking here. It's also an easy process to put in just a couple of entries and capwiz does the rest. Rep. Barney Frank (D-MA) has said that the conference to work out the differences between the House and Senate bills will be a quick process. Time is of the essence for credit unions to react.