Products & Services

The Stamford Postal Employees Federal Credit Union takes great pride in giving their members what they deserve -- the absolute best. Click on the links below to see what we have to offer.

• Checking
• Savings
• Loans
• 2nd Mortgages
• IRA's

The Difference Between "Debit or Credit"

It's time to pay for groceries at the supermarket, so you tell the cashier you are paying with a Stamford Postal Employees Federal Credit Union Visa Check Card. He then asks "Debit or Credit"?

Ever Wonder why you are asked this question?

The merchant is simply asking how you would like the transaction processed.

No matter how you respond - "debit" or "credit" - the purchase will deduct from your CHECKING (sharedraft) account. In other words, if you say "credit" the purchase will NOT get billed to a credit card.

What is the difference?

DEBIT - If you say "debit", the transaction is processed through an ATM network and you must use a personal identification number (PIN).

CREDIT - If you say "credit", the transaction is processed through the Visa network.

It all depends on personal preference. But there are two little known facts:

• When you choose "credit" and sign for the purchase it actually helps your credit union and other members because the VISA transaction are more efficient and less costly than ATM transactions.
• You have greater charge back authority. Which means, if you need to return a purchase or are unhappy with the transactions, it is much easier to get your money.

So, the next time you are asked "Debit or Credit?" help your credit union and say "CREDIT" and see how simple your Check Card is to use!