The interchange fight in Congress may be heading toward a climax in the next few weeks but merger-ready Sound Credit Union has long prepared for an income hit certain to bring about a product repricing, according to Richard Brandsma, its president/CEO.
Brandsma said he remains concerned how many of the nation's small and medium-size CUs, having withstood the assessment shock, can now absorb the revenue loss and still grow should the delay bill fail.
It's much easier for larger CUs to handle this kind of financial trauma, Brandsma said, adding that even his $1.1 billion institution "will have to consider our platter" of checking products to make conditional increases.
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