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MoneyChat. President Greg Smith answers what is on your mind.

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Greg's passion for the credit union difference, his love of technology, and his knowledge of financial markets make him a uniquely qualified leader.

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Credit Cards & Interchange Fees

Written by Greg Smith on 11/2/2009 12:00:00 AM

Not too long ago, PSECU sent an e-mail to members to ask for their support in opposing legislation that could result in PSECU losing a significant source of income – interchange fees. We rely heavily on this income because, as PSECU members know, we charge very few fees and have low loan rates. If interchange revenue is diminished, we might need to increase fees, increase our loan rates, or even discontinue some programs.

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