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Credit Union Foreign Fees: Is It Time for a Change?

Three factors can help determine whether dropping foreign transaction fees is the right move for your credit union.

By Tina Orem | Updated on March 20, 2016

Credit unions are always looking for new revenue streams, but a few are voluntarily giving up one – foreign transaction fees.

Foreign transaction fees are typically added to cardholder purchases that are made in a foreign currency or that go through a non-U.S. bank. According to a CreditCards.com survey last year, of 163 cards from 12 of the largest issuers in the U.S., the number of cards that are ditching foreign transaction fees has increased by 80% since 2012, up from 21 to 38.

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Tina Orem

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