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PSCU Financial Services is one of the first in the credit union industry to offer plastics that incorporate both EMV chip and PIN technology. The CUSO worked closely with Andrews Federal Credit Union of Suitland, Maryland, to launch the new card, which is now available to all PSCU Financial Services’ member-owners.
EMV (Europay, MasterCard and Visa) integrated circuit cards are widely used in Europe and other regions because this technology offers higher security than magnetic stripe. EMV cards that offer PIN approval are preferred by international travelers because they offer the convenience of use at unattended kiosks and ATMs.
“Offering EMV cards with PIN approval allows credit unions to compete effectively with large international banks. This card is a significant advantage for our credit unions that serve government, military or professional members who travel internationally,” said Michael Kelly, President & CEO, PSCU Financial Services. “These cards are an example of our dedication to delivering leadership and innovation in plastics and fraud protection technology.”
“Our members stationed overseas and those who travel frequently have been asking for this,” said Chris McDonald, President and CEO, Andrews Federal Credit Union. “Our credit union is excited to offer a card that employs both the dominant payment technologies.”
Andrews Federal currently offers a magnetic stripe Visa platinum rewards card. The new GlobeTrek Visa Rewards credit card will offer the same rate and rewards program as the credit union’s current platinum card, but will combine an EMV chip with PIN technology. The credit union plans to initially offer the new GlobeTrek Visa Rewards card to current cardholders living near their six branches in Belgium, the Netherlands and Germany.
Chip cards require upgrades to merchant terminals, which have not yet been widely deployed in the United States. Plastics that offer both chip and magnetic stripe are essential for credit unions whose members travel internationally.
For more information on issuing EMV chip/PIN cards, call PSCU Financial Services at 800-443-7728 ext 7877.
About Andrews Federal Credit Union
Andrews Federal Credit Union was founded in 1948 to serve the civilian personnel of Andrews Air Force Base. Andrews Federal is now $814 million in assets and serves over 93,000 civilian and military members worldwide with a total of 13 branches located in Washington D.C., New Jersey, Maryland, Germany, Belgium and the Netherlands. To learn more visit www.andrewsfcu.org.
About PSCU Financial Services
Based in St. Petersburg, Florida, PSCU Financial Services is the nation’s largest credit union service organization (CUSO) and serves more than 1,500 financial institutions nationwide. As a non-profit cooperative, the company is owned by more than 680 member credit unions representing 16 million credit, debit, prepaid, online bill payment and electronic banking accounts. Its Contact Centers handle more than 18 million inquiries a year.
PSCU Financial Services offers 24/7 member support through four Contact Centers: its Eastern operations center in St. Petersburg, Fla.; a Western operations center based in Phoenix, Ariz.; and two call centers in Detroit, Mich. These Contact Centers perform member servicing and new member acquisition, cross-selling and automated lending solutions as well as support for debit/credit/prepaid cardholders, online bill payment and electronic banking subscribers.
Established in 1977, PSCU Financial Services offers its members a full range of processing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As a leader in the credit union movement, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit PSCU Financial Services’ website at www.pscufs.com.