As credit unions learn more about new technology, they are some of the institutions leading the nation in the issuance of payment cards that use embedded computer chips to validate identity and secure transactions.
A new publicly available database of consumer complaints about big bank credit card programs may benefit credit unions trying to market their card programs, industry observers speculated.
North Carolina credit union says it saves unemployed, child support recipients more than $8.4 million in ATM fees annually.
Card Services for Credit Unions CEO Robert Hackney says tipping point is coming after which checks will decline.
This week's promotions, hires, announcements.
The 107,000-member, $3.2 billion Lockheed FCU has signed on with CO-OP Financial Services for credit card processing.
Lockheed had a credit card portfolio of roughly 36,000 active accounts worth roughly $115 million in outstanding balances as of the end of 2011.
Visa USA has reported that U.S. financial institutions have issued more than one million credit and debit cards that use information on embedded computer chips to validate transactions instead of magnetic stripe technology.
Credit unions will need to continue to seek out and provide a full – and expanding – range of services if they wish to position themselves as their members’ payment provider of choice in 2012.