AN IMPORTANT MESSAGE FROM THE
PRESIDENT OF VELOCITY CREDIT UNION

Dear Velocity Member,

The U.S. Congress is considering legislation that would reduce the amount of interchange fees paid by merchants when they accept a credit or debit card for payment. Interchange fees help pay the cost of processing credit and debit cards payments, with a portion going to card issuers like our credit union to cover risk, fraud and operations cost.

The vote is coming up fast and we need your help.

This issue is important to you, as a member and owner of this credit union. It allows our credit union to offer low- or no-cost products and services including free checking. Interchange income also helps us absorb the cost of fraud that takes place on credit and debit cards.

A significant loss in interchange income could mean our credit union would have to charge more fees, increase interest rates on loans, or even suspend some products and services. Credit and debit card programs are an important service, but if merchants don’t pay for their benefits of the system, it’s unfair.

I am asking you for your help in expressing your opposition to this legislation by contacting your Congressional representative.

Please go to www.cuvoice.com. There is a toll-free number and more information about this important issue. The more credit union members that weigh in on this issue, the greater chance we have to stop the legislation in Congress.

Thank you very much for your support.

Debbie Mitchell, President/CEO
Velocity Credit Union