Posts Tagged ‘Credit Unions’

What You Need to Know About Your EMV Chip Card

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Does your Credit or Debit Card look a little different?

PFCU recently began sending out EMV Chip Cards to our members with VISA® Credit Cards, and will soon begin issuing them to our members with Debit Cards. Just what are these cards, and how do they differ from the cards we’re all used to? One big advantage is a decrease in risk from data breaches like those that occurred at Home Depot and Target recently.

 

 

Check out this helpful video.

Here is some helpful information on the cards from our Ann Davidsom, VP of Risk Consulting at our partner, Allied Solutions:

Chip Card Facts for Consumers

• For cardholder protection, the mini computerized chip on the card uses a dynamic card verification value (dCVV) that changes with each transaction. This will help prevent fraudsters from being able to perform a subsequent card authorization.
• Make your chip card the payment of choice to help reduce the risk of card fraud.
• Protect your card or card number from unauthorized activity and don’t let your card out of your possession.
Using Chip Cards
1. Check to confirm your card has chip technology.
2. If your card has a chip on it, don’t swipe the magnetic stripe if the point-of-sale device is chip enabled.
3. Look for the card insert below the PIN pad on the card reading device to insert your chip card into.
4. Once your card is inserted, do not remove it until the sales associate or the machine says it’s approved.
5. If you were assigned a PIN with your chip card, enter your PIN after you have inserted the card. Remember, do not pull your card out until the transaction is approved.
6. If a PIN is not assigned to your chip card, insert your chip card and allow the sales associated to perform an authorization.
7. Swipe the card on the card reader if the merchant’s device is not chip enabled.

As new technology is introduced, PFCU will integrate it into our products and services to keep our members safe.

We’ve been doing it since 1935.

Time to Escape Banking Fees! Time to Join PFCU!

There's no time like the present to escape bank fees and mediocre service by joining a credit union.

Why a credit union?  Why PFCU?  There are LOTS of reasons! 

Suze Orman, Jane Bryant Quinn and numerous financial websites such as CULookup, Find a Credit Union and creditcardconnection.org  to name a few, have been touting credit unions for years.  The clamor reached a fever pitch recently when big banks announced plans to begin charging people to use their debit cards.  When something has been free and suddenly isn’t, people notice.  Actually, there have been more subtle ways that bank customers have been paying more and getting less for several years.  Even as the economy worsened, many consumers saw dramatic increases in credit card rates over the past decade.  Fees of all sorts increased or appeared seemingly out of thin air.  People are feeling it more than ever and are looking for alternatives.

So why a credit union?  There are lots of very good reasons.  First, a credit union is a non-profit financial cooperative owned by members, not stockholders and run by a volunteer Board of Directors from the local community who are also members, rather than a board, which receives compensation and may not otherwise be connected to the people who bank there.  Consequently, credit union earnings which exceed operating expenses are returned to the members in the form of lower rates on loans, higher rates on savings, and fewer fees.  The difference can be quite stark.  The credit union motto is “People Helping People” and we take that very seriously.  That’s why you will see credit union employees out in the community teaching financial literacy, volunteering for community service, and offering sensible, low-cost financial services to our area, including those who under-served by other financial institutions. 

If you are thinking of joining a credit union, Pasadena Federal Credit Union is an outstanding choice!  It’s no accident PFCU was voted “2011 Best Bank/Credit Union in the San Gabriel Valley” by the readers of the Pasadena Star News, Whittier Daily News, San Gabriel Valley Tribune and LA Times.  We have outstanding loan and deposit products and exemplary service our members rave about. 

Take credit cards for example.  Suze Orman refers viewers and readers to www.creditcardconnection.org, a site that has ranked all of the credit cards for banks and credit unions nationwide.  PFCU has received five out of five stars and made the “Dean’s List”.  Our card has no annual fee, no cash advance fee, no balance transfer fee, no over-the-limit fee and no default rate.  Wait until you see our low APR, which is well-below even the low end of the national average quoted in a recent AP article

PFCU has the same low rate for new or used car loans.  We allow deposits of at least $1,000 at a time to Share Certificates.  We don’t charge you to use your debit card.  You can use our Coinstar™ machine to deposit up to $100 in coin each day for FREE as a member

PFCU is also more convenient than you might think!  Although there is one branch with our name on it, it’s like we have more than 4,000 branches nationwide because we team up with other credit unions.  Go to www.cuswirl.com to find a shared branch location near you that allows you to deposit and withdraw from PFCU accounts and make PFCU loan payments as long as you have your account number and ID with you.  There is also an iPhone or Droid app to make finding a branch even easier. 

PFCU does not charge to use ANY ATM machine.  You may incur charges at a bank ATM, but with more than 28,000 surcharge-free ATMs nationwide including 7-Eleven, Costco and Bank of the West, you won’t need to use one of those machines.  Just text an address, intersection or zip code to 692667 (MYCO-OP) or go to the locations tab of our website.  There are free phone apps and navigation apps as well. 

What are you waiting for?  The time is NOW to join a credit union.  PFCU is a smart choice you will be happy about for years to come.