October 4, 2011
At a time when many FIs plan to begin charging consumers for debit card usage (most notably Bank of America), one Texas credit union is taking the exact opposite approach. Randolph Brooks Federal Credit Union will actually be raising the amount its customers can earn for purchasing via debit.
“Through the end of the year, RBFCU will pay 15 cents, up from 10 cents, each time a member uses his debit card,” reports KSAT.com. “Member-owned, not-for-profit credit unions have been booming in recent years. Randolph Brooks Federal Credit Union is enjoying a record-setting year for new memberships, according to Sonya McDonald, senior vice president of marketing.”
(Click here to read the full article on RBFCU.)
Bank of America, JP Morgan Chase, Regions Bank and Sun Trust Bank are among the FIs already implementing or considering additional debit fees in light of newly implemented interchange limits. (More details)
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