Banks, CUs Are Lobbying On Interchange Fees
WASHINGTON–Members of Congress and White House officials may have been taken aback last week when representatives of CUs and banks came to jointly lobby them against a proposed bill regarding card interchange fees.
CU and bank officials from the Capital region, as well as lobbyists for MasterCard and Visa, are among the 30 representatives that were scheduled to meet with leaders in the House and Senate and at the White House late last week, according to John Magill, chief lobbyist for CUNA.
CUNA and NAFCU have joined bankers and credit card companies in an Electronic Payments Coalition that is fighting bills to allow large retailers to negotiate their own fees with the card companies.
The stakes are the same for CUs and banks, who don’t want to see the government regulate the $42 billion-a-year interchange fees market. CUs earned more than $3 billion in interchange fees last year.
The House Judiciary Committee this week is expected to vote on a bill that would enable retailers to negotiate their own fees with card companies and have those fees ratified by a government panel. A similar bill recently was introduced in the Senate.
First Capital Offers Blank Check for Auto Purchases
YORK, Penn.–First Capital FCU said its Freedom Check program has passed the $1 million mark.
The program gives a member of the credit union a blank check–for up to the member’s pre-approved credit maximum–to pay for an automobile. The member then pays back First Capital, as with a loan payment, so the member does not need to finance through the dealer’s financial institution.
The program began in November.
Member One Plans 3 HS Branches
ROANOKE, Va.–Employees of Member One FCU are training students at Christiansburg High School to run an in-school branch of the credit union, one of three planned by the $350-million CU. The Christiansburg students–all juniors and seniors–will receive class credit through the county’s cooperative learning program, which places students in real-life work situations. They’ll also earn a paycheck. Member One plans to have branches in three area high schools: Christiansburg, Franklin County and William Fleming.
USPS FCU Outsources ATMs
CLINTON, Md.–US Postal Service FCU has signed an agreement with King of Prussia, Penn.-based Select-A-Branch to service its five ATMs. The $180-million credit union also has joined the S-A-B Network, providing branded, surcharge-free transactions to its own card holders. S-A-B ATMs are equipped with the company’s patent-pending software, which allows multiple financial institutions to deliver branded transactions through each ATM. When a card holder of a participating institution swipes his or her card at any S-A-B ATM, he or she is instantly presented with transaction screens branded with the logo, colors and marketing messages of that particular institution. The surcharge is shifted to the institution, resulting in a surcharge-free transaction to the card holder.
AZ FCU Deploys IEX TotalView
PHOENIX–Arizona FCU said it has implemented IEX TotalView Contact Management system in a bid to slash its contact center ASA and boost agent adherence. The $1.8-billion credit union deployed the system to automate the staff planning and agent management process and improve scheduling accuracy, agent adherence, service level attainment, and first call resolution. Using TotalView’s Multiskill feature, Arizona Federal has expanded the usefulness of its IVR without introducing unnecessary layers of complexity for callers. Today, it is rating agents on six skill levels, and callers more effectively reach the right agent on their first try.
CU Rewards Carpooling Employees
HAMPTON, Va.–More than 140 employees who either carpooled or walked to work at Langley FCU last Wednesday were rewarded for their efforts. Anyone who carpooled got $10 and was entered into a drawing for a $100 deposit; walkers received $5.
CU Cooks Up $15K For Hospital
PHOENIX–Desert Schools FCU raised $15,000 for Phoenix Children’s Hospital during its annual Children’s Miracle Network employee BBQ. Festivities included a BBQ lunch cooked up by senior executives and employees, a “Desert Schools Idol” karaoke contest, a raffle, and food donations from local grocer, Fresh & Easy.
This year’s fundraising represents a $5,000 increase over last year’s total of $10,000.
Desert Schools contributed $340,000 to Phoenix Children’s Hospital in 2007.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
