Victor Valley Federal Credit Union NEEDS YOUR HELP!

(Please see last paragraph below to see what you can do.)

Your support is needed-there is legislation in Congress NOW that will negatively affect debit and credit-card issuing credit unions and the card payment system.

Last week, the U.S. Senate approved an amendment to the Financial Reform Bill (S. 3217) that would harm consumers and the credit union’s ability to deliver critical financial services.  The Financial Reform Bill also known as the Restoring American Financial Stability Act is supposed to deal with banking failures and the high-risk activities that contributed to the economic crisis.  Instead, it has become a vehicle to deny basic revenue to financial institutions that had nothing to do with the crisis.  Institutions like YOUR Victor Valley Federal Credit Union!

Background

Each time you use your debit or credit card, a merchant is paid immediately and the credit union that issues your card receives “interchange” through the card payment system.  This interchange reflects a merchant’s fair share of the costs of this convenient and beneficial payment system.  At VVFCU, interchange helps offset the costs of re-issuing compromised cards (most commonly from merchant data breaches), losses due to card fraud, and providing a call center to contact if your card is lost or stolen. 

What Can You Do?

To make your voice heard in support of credit unions, sign on to www.connectforthecause.org and follow the on screen instructions to identify your public officials and send them a letter voicing opposition to these amendments.  You may use the letter provided on the site or change it however you like.  There is no cost to make your voice heard!  If you have any questions, please contact me at the credit union.

Thank you for supporting VICTOR VALLEY FEDERAL CREDIT UNION and other credit unions!

Rebecca Cervino, CEO

 JULY 1ST THROUGH AUGUST 31ST

AUTO LOANS NEW OR USED 4.99%

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Good things to come in 2010. Your CREDIT UNION is working for YOU!!!!

                    EXPERIENCE ALL YOUR CREDIT UNION HAS TO OFFER!