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Posted: Dec 2, 2016
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Author: Bill Lehman

Expensive and time-consuming initiative makes it tough for gasoline retailers to keep up.

Initially, the liability shift associated with upgrading the card readers at gas pumps, known as Automated Fuel Dispensers (AFDs), was set to two years after in-store POS terminals, due to the complexities of retrofitting or replacing AFDs. But, even those extra two years are proving insufficient for many gasoline retailers. In response to the delays, Visa and MasterCard are postponing their Oct. 1, 2017, EMV liability shift for U.S. AFDs until Oct. 1, 2020.

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Posted: Nov 3, 2016
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Author: Lou Grilli

How Credit Unions Can Grow Profits From This Opportunity

People don’t like to pay fees, and many credit union members love their credit unions precisely because they don’t like the fees that big banks charge. But there is one area where members may be willing, and actually want to pay fees. Credit cards with high annual fees that also come with equally generous benefits are in high demand. And credit unions should take advantage of this increasing appetite for what are known as signature, premium, or elite cards, along with the high interchange rates that come with the card.
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Posted: Oct 26, 2016
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Author: Shana Baert

Why make your members wait for their new or replacement cards?

Traditional card issuance involved a credit union requesting a new card from their processor when a member opens a new account, or reports a lost or stolen card. The processor then personalizes a card and mails it, getting a new card in the hands of the member, on average, 8-10 days after opening the account. But instant issuance, the ability to provide an activated card in-branch is a game changer, both for greater member satisfaction, and increased card usage.

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Posted: Oct 5, 2016
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Author: Lou Grilli

The Facts and Myths That Every Credit Union Should Know

Another liability shift related to the U.S. adoption of EMV is facing banks and credit unions. As of October 21, 2016, ATM acquirers, whether they are banks, credit unions, third-party or ISO-owned, will bear the liability for fraud committed at ATMs that have not been EMV-upgraded (that is, ATMs not capable of reading and processing chip cards) and a MasterCard-branded card is used. The same concept of shifting liability to brick and mortar merchants who have not upgraded their point of sale terminals took place last October.
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Posted: Sep 26, 2016
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Innovative ScoreCard Rewards Promotion Delivers Results

CSCU member Evansville Teachers Federal Credit Union has increased its average monthly credit card applications by 89% after extending to members its “3-2-1” ScoreCard Rewards program. Since July 2015, the program has offered credit union members triple points on a quarterly rotating category, double points year round on gas and groceries, and one point per dollar spent on all other purchases.

 

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