EMV Card Distribution Complete

Credit Union of Denver (along with the majority of financial institutions in the USA), has replaced the old cards with the new, more secure, EMV Chipped Cards. We have listed the process of the EMV roll-out as well as definitions to what EMV is, why EMV is important and how this impacts you, the card holder. This is a very large undertaking and we want you to understand the many steps required to provide the best secure card product for you, our members.

Information about the new card implementation process:  Please read carefully, this is a lot to take in…

Credit Union of Denver has completed the distribution of the EMV conversion process. This includes debit, credit, secured and HELOC cards. The most significant change of these is the credit cards that now require a PIN. This is mandatory and not optional like it used to be.

1. All Cards Have Been Distributed

If you have not received your MasterCard® EMV Credit, HELOC or Debit Card yet, you should give us a call at 303.963.1340 or 800.279.3288.
All cards distributed require a PIN be set up for use at point of purchase locations. In the case of debit cards, your old PIN does not transfer automatically to your new card.

  • Debit Card Activation and to Set a PIN – call 866.985.2273
    It will ask you for your birth date in MM/YY format, example January 1962 would be 01/62.
  • Credit, Secure and HELOC Card Activation – call 800.527.7728
  • Credit, Secure and HELOC Card PIN setup – call 888.886.0083
    It will ask you for your birth date in MM/YY format, example January 1962 would be 01/62.

As of August, we are not seeing that all cards distributed have been activated. Cards not activated leaves you and the credit union vulnerable to fraud.  Please look for your mailed cards and process the new cards immediately.

Effective November 15th we will be closing ALL old credit cards down to move forward with the new EMV Chipped Credit Cards at Credit Union of Denver.

When taking on a change over to a new product, it takes all of us to make it successful!
Thank you for helping make this transition as smooth as possible.

So why EMV?
What is an EMV chip card?

Our old cards used a mag stripe, which is easily compromised by resourceful fraudsters. To help thwart fraud, Visa and MasterCard strongly recommend financial institutions transition to EMV chip cards by October 2015.

An EMV chip card is a plastic payment card with a microchip that is virtually impossible to duplicate. These types of cards are currently used internationally and have proven to help reduce counterfeit fraud. You will begin to hear more about Chip and Pin versus Chip and Signature cards.

Chip and PIN is the most secure type of credit card technology. Instead of a signature being used for identity verification, it requires you to enter a four-digit Personal Identification Number (PIN) that must correspond to information contained in a computer chip embedded within the card. The Chip and PIN authentication method has been a global standard across Europe and Asia for many years which means using your card while traveling overseas will be even more convenient. Authorizing your transactions with a PIN is not new to debit card transactions, but is a new way to authorize payments with a credit card.

What security features are there in an EMV chip card?

That small metallic square on your card is a computer chip, and it’s what sets apart a new generation of cards. The square makes it much more difficult for bad guys to steal sensitive data; it is slowly replacing the magnetic strip. The chip cards likely will reduce the very high rate of card fraud in the United States. Companies in the U.S. are the No. 1 target for this type of fraud and has doubled in the past 7 years as criminals have shied away from targeting countries that already have transitioned to the chip cards. Some markets have seen as high as an 80 percent drop in counterfeit fraud after chip adoption when customers use the card on-site, according to Discovernetwork.com. While hackers may be stymied by the chip technology, they may look elsewhere to steal your personal data for illicit gain. We anticipate that there could be a shift to more online fraud.

Why safer?
The magnetic strips on traditional cards store unchanging data. Whoever accesses that data gains the cardholder information. If someone copies a magnetic stripe, they can easily replicate that data over and over again because it doesn’t change. After they steal the data, (criminals) make a replica of your card and put their own name on it, in case they get asked for (identification).

Unlike magnetic-strip cards, every time a chip card is used for payment, a unique transaction code is created that cannot be used again.

If a hacker stole the chip information from one specific point of sale, typical card duplication never would work because the stolen transaction number created in that instance wouldn’t be usable again.

We hope that helps clarify the difference in the cards. If you feel this article was helpful, please feel free to share with your friends and family.

Thank you for your patience. We apologize for any confusion or inconvenience this may have caused you. If you have any questions, please call us at 303.239.1150 or 800.279.3288.