EMV Chip Technology

Introducing Enhanced Security & Worldwide Acceptance

You may have heard some buzz about “chip” or “EMV” cards and wondered what it’s all about. The terms refer to technology offering greater credit and debit card security – now included in our new Mutual Credit Union Visa® Credit and Debit Cards.

EMV, which stands for “EuroPay, MasterCard®,Visa®,” represents an encrypted microchip embedded in your card that is used to authenticate, authorize and process your transactions. Because this microchip doesn’t store any personal information and authenticates every user, it has been instrumental in preventing the spread of credit and debit card fraud. And, unlike a magnetic stripe card, it’s virtually impossible to create a counterfeit EMV card.

Protecting your personal data is something that we take very seriously at Mutual Credit Union. We have rolled out our new EMV chip-enabled Mutual Credit Union Visa® Credit Cards, soon followed by Visa Debit Cards – making us the first in the area to issue EMV technology on debit cards. Your new EMV cards offer the additional advantage of worldwide acceptance for your travel needs.

If you have any questions about our new EMV chip credit or debit cards, please inquire at any branch or call us at 877-457-3654.

What is EMV?

EMV stands for EuroPay, MasterCard, VISA and it represents microchip technology in your card that increases security.  This technology originated in Europe and has been instrumental in preventing the spread of credit and debit card fraud.  It’s coming to you in this new card.

How does my EMV card work?

The microchip inside the card provides dynamic data at the time of use that cannot be known by someone who steals your card or card number.  Additionally, a microchip is much more difficult to replicate or counterfeit than the old magnetic strip cards.

Do I need to do anything?

Your new EMV card has a new expiration date, so if you have automatic payments set up through your card, you will need to give merchants this new expiration date.

How do I use my new EMV card?

While EMV cards are widely accepted throughout Europe, many merchants in the US are still working to process EMV transactions.

First, swipe your card. If the merchant isn’t EMV-ready, the transaction will process using the magnetic strip on your card.  If the merchant is EMV-ready, you will be prompted to insert your card in the terminal.  Your card will be kept safely inside the terminal while the microchip is authenticated and the transaction is complete.

Second, remember your PIN. Terminals may use different formats (either your PIN or your signature) to authenticate you as the card-holder.

Third, remove your card. Some terminals may remind you to take your card, but some may not.

If you have any questions, we’re happy to help at 877-456-3654.