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MasterCard Changes May Not Impact Many Credit Unions

CLEARWATER, Fla. - MasterCard's recent announcement that, as of May 1, their smaller issuers will have to generate $200,000 in business for the association or possibly drop to a lower level of membership is not likely to impact many small credit union card issuers, according to a spokeswoman for Card...

By Staff Writer | Updated on January 13, 2004

CLEARWATER, Fla. – MasterCard’s recent announcement that, as of May 1, their smaller issuers will have to generate $200,000 in business for the association or possibly drop to a lower level of membership is not likely to impact many small credit union card issuers, according to a spokeswoman for Card Services For Credit Unions. Saying that the move was “designed to help MasterCard manage risk and maintain the integrity of the system for all members, cardholders, and merchants” the Association announced that card issuers which do not generate at least $200,000 for the Association will have to either pay to make up the $200,000 or drop to a lower membership level. But Sue Chrzan, Communication’s Specialist for CSCU estimated that over 90% of the Association’s members issue Visa cards and that, of the remaining credit unions that do issue MasterCard, 90% of those are already affiliate members of MasterCard through being members of CSCU. CSCU does have some larger credit union members that issue MasterCard, Chrzan said, but these are of a size that they probably already meet the $200,000 minimum.

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