Georgia-Florida UM Federal Credit Union Offers Shelter from Credit Card Rate Increases

11/4/2009

If you have a credit card from any of the major credit card issuers, you might notice a sharp increase in your interest rate and fees within the next few months. This warning was issued by Keystone United Methodist Federal Credit Union this week, the credit union that serves United Methodists in the Western PA Conference, and was echoed by the Georgia Florida United Methodist Federal Credit Union.

As credit card companies race to beat the deadline for new regulation that will go into effect in February as result of the Credit Card Accountability, Responsibility and Disclosure Act (CARD), credit card issuers have been raising interest rates dramatically. .

“We’re very concerned about our members,” said Keith Pritchard, CEO of GFUMFCU. “These rate increases can cause some serious financial hardships at a time when many people are struggling just to make ends meet.”

The Georgia Florida United Methodist Federal Credit Union wants North Georgia United Methodists to be aware that they are eligible for membership in the GFUMFCU. It, like most credit unions, has lower interest rates, lower fees and less punitive policies for credit cards. Membership in the Credit Union is open to every United Methodist in the North Georgia Conference (as well as South Georgia and Florida).

“We’ve never practiced at-will policy change,” said Pritchard, “and we don’t intend to start now.”

If you are concerned about your credit card or would like to change to the Credit Union’s credit card program, call the Georgia Florida United Methodist FCU at 770-565-3794 or 1-800-282-9368 or visit the website www.unitedmethodistcu.com.