"Don't Change Interchange" by The Disclosures

UPDATE: July 2011: Thanks for your help - http://www.cuna.org/public/press/press-release/issues/credit-union-national-a...

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Protect your credit union's debit card and contact Congress today!

Please send messages to your federal legislators urging them to cosponsor S. 575 or H.R. 1081, and thanking those who have cosponsored the bills.

Both bills call for the delay and study of the Federal Reserve's new interchange rule, which will force added costs and fees onto credit union members (and non-members!) who use debit cards.

TAKE ACTION!
1. Contact your federal legislators and learn more at:
http://capwiz.com/cuna/home/

2. Please post and share this video anywhere you see fit to help spread the word on this important issue.

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Song performed by The Disclosures with apologies to George Michael. The Disclosures are Chad Helminak (right) and Christopher Morris (left). For more info about The Disclosures, visit their site: http://thedisclosuresmusic.com

The views and opinions expressed in this video are solely those of The Disclosures.

Category:

Nonprofits & Activism

Tags:

• disclosures
• interchange
• debit card
• credit unions
• financial reform
• legislation
• not-for-profit
• cooperatives
• member-owned
• move your money
• george
• michael
• faith

[vinky102]

If you really looked into interchange fees you would be sining a different song. Ask a business owner what they think of interchange fees. Why do you want 2% of the cost of your transaction to go to a credit card company? Are you serious guys. It's nice that you can sing but don't sing for the credit card companies!

 Please get informed.

[thedisclosures]

@vinky102 we're doing this for credit unions, not credit card companies. Not-for-profit credit unions have been lumped into this issue with for-profit entities and that's where our beef lies. Interchange helps CUs cover fraud and admin costs of debit card programs (which are often free to members). They are not looking to gouge anyone. But if these rules go through, many CUs will be forced to pass costs on to members or stop providing debit cards all together. We don't want that to happen.

[shawnbsc]

Im guessing your dont have a business?? YOU try being in a business!...you have no clue as to what it cost my business per month cause people cant keep a little money (CASH) in their pocket. It cost me about $600.00 to $700.00 dollars a month for debit/credit card fees. Im a small buisenss in a small town that doesnt have alot of volume.  You need to look at both sides. By the way, dont use someone elses music like that...its just stupid.

[thedisclosures]

@shawnbsc like businesses, financial institutions come in all shapes and sizes. These interchange rules will affect them all, from the smallest credit union to the largest bank. We oppose them not b/c we are anti-business, but because many not-for-profit credit unions will be forced to raise costs for members to keep debit cards. And that's bad b/c we want them to continue shopping at local businesses like yours. Stupid, eh? You must not be a Weird Al fan. Thanks for watching our video.

[yinyang7113]

@shawnbsc You must have forgotten what it's like to process checks. Clearly you don't see the sizable benefit of being able to accept credit cards and what comes with - GUARANTEED FUNDS. Do you remember the times that you had a check come back NSF and YOU had to collect it? Through the use of credit cards and debit cards, you get your money even if it's fraud. Perhaps you should go back to accepting checks and cash. Or, just go back to cash and see how much business you lose. Just sayin'.

[chantiman]

Processing checks also has a cost however merchants are not charge 2% of every check deposit in a bank. Next thing you know Visa and MC will want to put their logo on our checks so they can charge for that too.

[WwwJoinManaDotCom]

I want to have u do a 2nd vs for my company... please contact me via website. You guys rock.. we loved the song and video.

[WwwJoinManaDotCom]

You guys rock... Im in the merchant industry... i

[TCULadvocacy]

We put you on our webpage. LOVE it!

[Tomis17]

Good job guys! ~Thong Yang