Chip Technology is Coming This Fall

Making sure our members financial transactions are safe, secure and reliable is one of the most important things we do. Chip technology is a new global standard for cards and the technology is used to authenticate transactions. In the wake of numerous large-scale data breaches and the increasing incidence of credit card fraud, U.S. card issuers are migrating to this new technology to protect consumers and reduce the costs of fraud.

For merchants and financial institutions, the switch to chip means adding new in-store technology and internal processing systems, and complying with new liability rules. For consumers, it means activating new cards and learning new payment processes.

Most of all, it means greater protection against fraud.

Spokane Federal will begin transitioning our members to chip credit cards beginning in the fall of this year with debit card accounts to follow. Watch for more information. And, if you have questions about chip technology and what it means for you and your credit and debit card accounts, talk with a member service specialist, any time.

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