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Logged into Credit Union and saw this message:

Discussion in 'Off Topic' started by Dyjital, Jun 15, 2010.

  1. Dyjital

    Dyjital Albany, Ore Flavorite Member Bronze Supporter

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    So I decided to use the link at the bottom:
    http://capwiz.com/cuna/issues/alert/?alertid=15068616&PROCESS=Take+Action
    As a member/owner of a credit union I really appreciate the small things that they do vs a money hungry bank.

    I used the well worded form letter and I agree with all of the items so I put them all in.

    I figured it would go un-noticed and that would be that.

    Well today I got an email. (form letter)

    I find their basis for it being "one of the highest operating costs.." nope, actually for small business it's carrying liability insurance. Paying workers comp insurance which for every dollar you pay in wages you pay ANOTHER $.35 to $.50 to cover that worker.

    $.01 on the dollar if that for the use of a debit/credit card is rediculious that they want to lower that.

    Your a store owner. You charged up $20 in sales. What's $.20 or even $.15.
     
  2. PhysicsGuy

    PhysicsGuy Corvallis, OR Resident Science Nut

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    Its not always as low as 1%, I've usually seen fees around 2-4%, and it adds up. In the end that becomes pretty large chunk when your profit margin usually lies around 10-25%. Typically retailers just mark up there prices to compensate for the charges, so you (usually) end up paying for charges whether you use a card or not.

    But yeah, I do agree that it's most likely not the most expensive part of operating costs.
     
  3. Wheeler44

    Wheeler44 SW Washington Member

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    How about %.025 and $.22 per transaction...It works out to $1.50 per $50.00 sale..plus monthly and annual fees...I would welcome a reduction in expenses...