Shout Out to Colorado Credit Unions Fighting the Good Fight Against Interchange Bill 

Posted by Alyse Knudsen on April 2, 2025

The mega-retail lobby is forcing “swipe fee” bills on state legislatures nationwide. These bills pretend to be consumer- and small business-friendly. They’re anything but, and HB 1282 in Colorado is a good example. Here’s why:

• It prohibits the collection of interchange fees on sales taxes and tips, and caps fees on charitable contributions.
• It threatens financial institutions’ abilities to offer safe, secure, and competitive card programs. Your credit union likely uses interchange revenue for fraud protection, for technology to ensure rapid and secure processing, and to offer rewards programs or better interest rates.
• It would create chaos and have unintended consequences for Colorado’s consumers, workers, and small businesses

Credit union voices matter in fighting off bad legislation like HB 1282. Hearing from your front-line workers, who are serving your consumer and small business members every day, is a game changer.

Shouting out!

Several credit unions deserve props for responding urgently when the Call to Action went out; they quickly engaged a deeper team beyond their executive leadership.

The following credit unions engaged over 50% of their teams in sending out emails on this advocacy priority:

• Northern Colorado Credit Union
• Columbine Federal Credit Union
• Electrical Federal Credit Union 
• Westminster Federal Credit Union 
• Partner Colorado Credit Union 
• SunWest Credit Union
• Guadalupe Parish Credit Union

Additionally, Canvas Credit Union topped the state with nearly 250 employee messages to lawmakers as of early this week.

Wyoming-based Blue Federal Credit Union also got a great response from its employees who serve members in Colorado branches.

More legislators in Colorado need to get this message right away!

HB 1282 has already passed out of the Colorado House and is headed for the Senate Judiciary Committee. Due to misinformation shared by large retailers, too many legislators don’t fully understand the impact this bill would have on their constituents. We have shared over 700 messages but candidly need about 2,500 more to set the record straight. Colorado credit unions are encouraged to engage their teams in the Call to Action.

This link takes you to a turnkey message your employees can send in just minutes!  This is urgent; please participate today.

Posted in Advocacy, Colorado, Top Headlines.