SIU Credit Union Blog

Category: News (page 1 of 9)

What Will EMV (Chip) Credit and Debit Cards Mean for You?

The U.S. is poised to upgrade its debit and credit card (payment card) security systems in an effort to fight skyrocketing fraud costs. And while federal regulations already protect you, as a consumer, from liability for most fraudulent transactions a crook could make using your account, when payment industry participants are hit by fraud, everyone’s costs increase.

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That’s why the U.S. industry plans to implement EMV (Europay, MasterCard, and Visa) cards, which contain computer chips that authorize or validate payment-card transactions. We’re the last developed country in the world to do so. Here’s how the change will affect you:

  • You’ll receive an EMV card with information about how it’s different, its enhanced security, and how to use it. This may happen when your current card expires or you might get a special reissue from SIU  Credit Union or other financial institution. Card issuers have discretion about whether they’ll require you to use a signature when making payments or to use a PIN (personal identification number).
  • The transaction process will be slightly different.  You’ll insert your EMV card in a POS (point-of-sale) terminal, wait for it to be authorized, and remove it. You’ll either sign a sales draft or key in your PIN to complete the transaction.
  • Other countries likely will stop accepting mag stripe cards after a certain date. You’ll need an EMV card when traveling abroad and international travelers in the U.S. will have the additional protection against counterfeit that EMV cards afford.
  • It’s possible that some merchants and card issuers may choose not to convert and will continue to use mag stripe technology for a time. Your card still will work at the point of sale and consumers will continue to be protected from fraud liability.

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SIU Credit Union to Host Free Credit Seminar

Carbondale, IL – May 13, 2015  SIU Credit Union will host a FREE credit seminar, “Power Over Debt: Break the Debt Cycle”, in Carbondale on Wednesday, June 17 from 6 to 8 pm.  Learn if debt is dragging you down and how to take control of debt before it takes over your life.

Get Out of Debt, Stay Out of Debt

Get Out of Debt, Stay Out of Debt

Do you know how much you owe? Have you figured your own “safe” credit limit? Do you know what percentage of your total credit limit is safe to charge? Do you know the warning signs that you may have too much debt?

SIU Credit Union wants you to take control and take positive steps to manage your debt. At the seminar, you’ll learn about the different kinds of debt, benefits and costs of credit, warning signs you have too much debt, what’s in—and how to get—your credit reports and credit score, how to tackle your debt, how to rebuild good credit, and—most importantly—how to stay out of debt. Speakers include Tiffane Pelzer, SIU Credit Union Loan Manager and Michelle Rice from TransUnion Credit Monitoring.

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SIU Credit Union Awards 2015 Scholarship Winners

Carbondale, IL – May 11, 2015  SIU Credit Union is proud to announce the awarding of scholarships to deserving students pursuing higher education degrees.  The scholarship presentations were made at the Giant City Road branch in Carbondale to five students, each received a $1,000 scholarship for the 2015-16 school year.  The 2015 scholarship winners along with their institutions and fields of study are noted below.

Camille Hammers

Camille Hammers

Camille Hammers of Murphysboro is a 2015 homeschool graduate.  She will be attending John A. Logan College where she plans to study Biological Sciences before transferring to Southern Illinois University.

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Online Banking Just Got Better

FB-4.0-Upgrade

We’ve officially gone live with your new online banking experience, and we couldn’t be more excited! Your new and improved online banking offers a modern design and is faster and easier to use. Here are a few of the improvements we’re most excited about:

  1. Enjoy a consistent look and feel across all your devices
  2. Easily find your most commonly used transactions, all on your new home page
  3. Simplify your life with faster, easier bill pay functionality
  4. Quickly find your most important data with improved search
  5. Find a convenient branch or ATM wherever you are with interactive maps
  6. Deposit checks with just a few clicks inside our mobile banking app

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SIU Credit Union Hosts Free Super Shredder Event

Free shredding event allows the community to dispose of confidential documents safely 

Metropolis, IL – April 27, 2015  SIU Credit Union, with the assistance of WPSD Local 6, is hosting a Super Shredder event at the Metropolis branch on Thursday, May 14 from 10 a.m. – 5 p.m..  The event allows individuals to bring up to 50 pounds of personal documents to be shredded for free. Shredding services are provided by DataLock.

Location and time:

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SIU Credit Union to host Community Blood Drive

Red-CrossCarbondale, IL – April 7, 2015 SIU Credit Union, with the assistance of the American Red Cross, will host a community blood drive on Tuesday, April 21. The event takes place between 10 a.m. – 2 p.m aboard the Red Cross mobile blood bus in the parking lot of SIU Credit Union’s Giant City Road branch near Kroger in Carbondale, located at 395 N. Giant City Road. Your donation helps save lives and supplies the needs of our community and countless more.

For more information or to make an appointment, call 1-800-RED-CROSS or visit www.redcrossblood.org.

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