27 Sep

Payment Industry Updates

EMV Chip CardThe news and social media have been highlighting the upcoming change in the payment industry and EMV enabled cards. So we wanted to provide some information to our members about our role in this exciting change.

What is an EMV card?

EMV stands for Europay, MasterCard and Visa.

An EMV or “chip” enabled card is the same size as your current debit or credit card but is embedded with a unique data chip.

What are the benefits of an EMV card?

Added security: The chip adds another layer of security to cards when used at a chip card reader. During the transaction the chip produces a single-use code to validate the transaction that cannot be compromised to create other transactions.

Wider acceptance: Europe, Canada, Asia and South America have already embraced chip technology. So your card will be easier to use while traveling outside of the U.S.

When will I receive my new EMV card?

RMLEFCU is currently in the lengthy process to convert our cards to this new technology. We are hopeful that we will be able to finish the completion of this project by the end of 2016. When completed you will receive a new card when your old card is up for renewal or when requested by you.

We will be keeping all of our members posted on any new updates and sending out more user FAQ’s when the conversion is complete.

 

 

27 Sep

Changes at Checkout

Choosing credit or debit RMLEFCUWhy do some transactions post with different descriptions when using my debit card?

With the EMV conversion deadline fast approaching more merchants are converting their card processing machines to EMV ready. With this change in some cases the default payment on your statement reads WITHDRAWAL POS (address) and you did not use your PIN. The merchant processed this as a point of sale purchase with signature and no PIN. So don’t panic that your PIN has been compromised. As long as you are aware that you completed this charge then your card is safe to continue to use.

The default payment type for the industry used to be debit card with signature and would show up as DEBIT CARD DEBIT or WITHDRAWAL POS would be point of sale pin. We can no longer assume that the PIN was used with point of sale transactions. The merchant is still in compliance to be able to process the transaction either way. The reason why the merchants are changing this default payment type is for their benefit in order to have less fraud charge back obligations and pay less in fees.

We would like to make you aware that point of sale transactions regardless of with pin and no pin are NOT eligible to qualify you for rewards on your account. These transactions will not earn uchoose points or count towards Kasasa rewards. For these types of rewards, you would need to process your payment as a credit with signature transaction.

11 Sep

4 Health Benefits of Taking a Road Trip

A year ago gas prices in the Denver area hovered around $3.59. Due to domestic oil production ramping up and global thirst for oil petering off, gas prices have dropped to $2.60 a gallon, give or take a few cents. If you have a few vacation days you need to use before the end of the year, may we suggest a good ol’ American road trip? We’ve rounded up the top 4 reasons that doing so may have both mental and physical rewards.

  • Easier to go tech free

According to an April 2015 Gallup poll conducted on 4,475 adult U.S. workers, almost 50 percent of workers who frequently use work email outside of normal working hours reported feeling stressed “a lot of the day,” as compared with around a third of those who don’t check work email after-hours.

Most airports, and even some planes, have Wi-Fi. As much as you’d like to unplug, the outside world can still reach you on your smartphone. But when you’re cruising in your car on your way to Wall Drug in South Dakota, your only thought will be, “Why haven’t I done this before?” instead of the obligations waiting for you back in Colorado.

  • Feel better when you head back to work

We all need a break in our routine. It’s healthy and helps us press the reset button. There is a caveat though. Most of the happiness you’ll get from vacation depends upon the stress level of the vacation. Why not just get behind the wheel and avoid the ever shrinking tray tables and chatterboxes on the plane? Let’s face it, plane travel has been the opposite of glamorous for decades but the open road hasn’t lost its allure.

  • Save money

 Saving money makes us happy. Who hasn’t bragged about saving a few bucks when their friend paid full price for something. It’s easy to save money when you take the road by the wheel since  gas is cheaper and there are no extra charges for checked or carry-on bags!

  • Even planning a vacation has health benefits

A recent study, published in the journal Applied Research in Quality of Life, showed that the largest boost in happiness comes from the simple act of planning a vacation. In the study, the effect of vacation anticipation boosted happiness for eight weeks.

What if your car’s heyday has gone and went? If you are in the market for a new or used car, RMLEFCU has car loans that can help you trade in that jalopy.

As a member of Rocky Mountain Law Enforcement Credit Union you enjoy:

Don’t forget that our employees can review whether it makes sense to refinance your current vehicle to potentially lower your rate. We’re family after all, looking out for you, even when you don’t ask.