EMV card chip

Credit unions have had more than two years to get chip cards into members’ hands as part of the highly publicized 2015 EMV liability shift. But there’s an open secret in the industry: many credit unions still haven’t finished — or perhaps not even started — issuing EMV cards.

It’s a situation some in the industry are reluctant to talk about, because publicly outing credit unions that still have mag-stripe-only cards out there makes those credit unions huge targets for criminals. But names or no names, credit unions that haven’t issued EMV cards are playing a dangerous game, industry pros say. Here’s what some think is going on — and what could happen to credit unions that have decided to let the EMV chips fall where they may.

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Tina Orem

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