PSCUnow.com 734.641.8400 October 2015
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2015 PSCU
Board of Directors
 
Frederick W. Morgan
Chairperson

Carol Palazzolo
Vice Chairperson

Dean J. Trudeau
Treasurer

Edward A. Carey, Jr.
Secretary

George Sciotti
Bernard Hanus
Nora Sharpley
 
Credit Committee
Veronica Massey
Huey Ferguson
Juanita Henry
Michael McMicken
Your Security is our #1 Priority!

EMV Chip Debit Cards

The security of your account information is of primary importance to us, and to build more protection around your everyday banking, we�re happy to announce the upcoming conversion of our MasterCard Debit Cards to the EMV �chip� technology.

We will soon be replacing debit cards with the new EMV �chip� technology. So don�t be surprised when your new card and pin are upgraded. 

How the chip works:

  • For added security, EMV cards have a microchip with encrypted account information.  Chip cards and merchant terminals work together to protect in-store payments.  A unique one-time code is generated behind-the-scenes that is needed for the transaction to be approved � a process that is virtually impossible to replicate in a counterfeit card.

No interruption to service:

  • If the merchant is equipped with EMV terminals, the chip in your card will be used to authenticate and process your card transaction.
  • If the merchant is not equipped with EMV terminals, the information stored in the card�s magnetic strip will be used to process your card transaction.

What you need to do:

It�s simple.  Just use your new EMV cards as you normally do knowing the chip in your cards help protect you from in-store fraud while you do your everyday banking.
Note:  Reestablish Automatic Payments:
If
you have authorized any merchants to make automatic payments using your current debit cards, you�ll need to provide these merchants with the updated card information necessary to automatically process payments, such as your card�s new expiration date, or new card number if applicable.


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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.  




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