Posted March 18th, 2015 No Comments
Card Services for Credit Unions (CSCU)

On March 9, 2015 CSCU announced in a letter to member credit unions, that they were going to cover the cost of the EMV/ Chip Enablement. CSCU communicated that they had negotiated an agreement with their processing partner FIS, whereby they would cover the entire cost of the EMV/Chip enablement. The press release further stated this would save their 2,300 member credit unions approximately $11.1 million.

CSCU was well aware of the negative financial impact this cost would have on credit unions and the ramification of waiting on the decision. Therefore, CSCU negotiated a comprehensive solution for their credit & debit card issuers.

CSCU further stated that “by facilitating the timely adoption of EMV enablement for our members, the management at your credit union can now begin to focus time and energy on new fraud prevention technologies such as tokenization and other emerging payments. CSCU will continue to provide guidance to all our member credit unions through the enablement and issuance of EMV cards as the October 1st liability shift date approaches.”

CSCU is an advocate, partner and leader in total payment solutions. They were created by and for credit unions and therefore are driven by the same principles that guide your credit union. If you would like to find out how CSCU can enhance your card processing, please contact Dan Collins.

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