Money Talk NewsletterOctober 2020 Money Talk Newsletter
INTRODUCING CHIP CARDS
Enhanced Security for your Debit and Credit Cards
Johnsonville TVA ECU will offer debit/credit cards with chip technology starting in May 2016. The embedded computer chip provides more security and wider international acceptance.
A microchip embedded in the card adds a new layer of protection against fraud for purchases made at the point of sale. Information programmed into the chip is personalized for your account and each transaction generates a unique code, adding an extra safeguard against unauthorized use and counterfeiting.
These cards are already in wide use around the world and are now becoming the standard in the U.S.
Follow these steps to use your card at a chip-enabled terminal:
Start the payment process by ‘swiping’ your card, just as you do today. If the terminal is chip-enabled, you will be instructed to insert your card.
- Insert your card, face up and chip end into the chip-enabled terminal.
- Leave the card in the terminal during the entire transaction.
- Follow the instructions on the screen and either sign your name or enter your PIN as needed. Be sure to remove your card and take your receipt when the transaction is complete.
If a merchant isn't using a new chip-enabled terminal yet
Your payment will process as it normally does from your initial ‘swipe’. Chip cards will continue to have the magnetic stripe on the back.
Online or phone purchases
Provide your card information as you have done in the past. Chip cards will not change the way payments are made online or by telephone.
At an ATM
The process is essentially the same as at a merchant. Insert your card, leave it in the ATM, and follow the prompts on the screen. Depending on the type of ATM, you might be prompted to re-insert your card. Leave the card in the ATM until the transaction is complete and the card is released, and then remove your card. A PIN is needed for ATM transactions.
When will the change happen?
Even though chip cards have started being issued in the U.S. and some merchants have already installed chip-enabled card terminals for payment, the entire conversion process is expected to take a few years to complete.
That's why chip cards will continue to have a magnetic stripe on the back. That way, if a merchant’s terminal or an ATM is not yet chip-enabled, your transaction can still be processed using the magnetic stripe as it is today.
When will I get my chip card?
Your card will be replaced with a new chip card as your current card expires. Once your new card arrives, be sure to activate it for use and then destroy your old card.
There is no need to request a new card. You'll automatically receive your new chip card in the mail before your card’s expiration date. There is no extra charge for the new chip card.
If you wish to receive a chip card before your natural expiration date, please contact the credit union.
If you are planning to travel internationally or have an immediate need for a chip card, please contact us at 800-338-4609.
How am I protected?
See your Electronic Fund Transfers Agreement and Disclosure for member liability and reporting requirements.
Frequently Asked Questions
Click to Read FAQs.
Contact us for more information
Call us at 800-338-4609 or stop in if you have additional questions about chip cards, or if you are interested in opening an account.
ALERT: Calls Regarding Blocked Debit Cards
Do not respond to any phone calls regarding blocked Debit Cards if it comes from any number other than 877-253-8964. If you receive a call from our fraud department the number you would see on your caller ID is 877-253-8964. They would leave you a message to call them back at 1-800-262-2024 and leave you with a specific case number being 10 digits long. They will never ask for you debit card number. Any other phone calls regarding Debit Cards being blocked should be ignored as they are scams.
Notice of Expirations of the Temporary Full NCUSIF Share Insurance Coverage for Noninterest-Bearing Transaction Accounts
By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited share insurance coverage by the National Credit Union Administration (NCUA). Beginning January 1, 2013, all of a member’s accounts at an insured depository institution, including all non-interest-bearing transaction accounts, will be insured by the NCUSIF up to the standard maximum share insurance amount ($250,000), for each share insurance ownership category. For more information about NCUA share insurance coverage of non-interest bearing transaction accounts, visit www.ncua.gov.
Fee Change Notice Effective March 1, 2017
Loan Processing Fee: $30.00
Fee Change Notice Effective December 1st, 2015
- NSF: $20.00/Item
- Stop Payment: $10.00/Item
- Incoming Wire: $10.00/Transfer
- Replacement Debit Card (Lost or Stolen): One Free, then $5.00/card
- Debit Card Pin Re-Order: One Free, then $5.00/re-order
- Outgoing Wire Fee: $20.00/Transfer
- Inactive Fee: $5.00/Month
Consumer Notice Pursuant to “Safe Act”
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”), was passed by Congress on July 30, 2008 as Title V of the Housing and Economic Recovery Act of 2008. The SAFE Act was created to enhance consumer protection and reduce fraud through the setting of minimum standards for the licensing and registration of Mortgage Loan Originators (MLOs).
MLOs employed by an insured depository institution or a subsidiary that is regulated by a federal banking agency are required to be registered in the national registry. MLOs are also required to disclose their unique registry identifying number (NMLS#) to the consumers they serve in their capacity as mortgage loan originators.
- MLOs employed by Johnsonville TVA Employees Credit Union
- Debra Phifer Cobb (NMLS# 518307)
- Kimberly Diane Buhl (NMLS# 518306)
- Johnsonville TVA ECU (NMLS # 494757)
Click here to read the latest alert about “phishing scams.”
- 209 Hwy 641 North, Camden Branch
- 20405 East Main St. Huntingdon Branch
- Murphy Oil next to the Waverly Wal-mart
- 213 Long St., New Johnsonville, TN
- Wells Creek Market - 6565 Hwy 13, Erin, TN 37061
- Teeters Market - 2269 S. Main St. Tennessee Ridge, TN 37178
You can use your Johnsonville TVA Employees Credit Union Debit Card surcharge free at these locations. This gives you 24 hour access to your checking account. Open up your account today.
The credit union offers a variety of mortgage loan options to meet your needs. We offer first mortgage, home-equity lines of credit, and land loans at competitive rates and terms.
Learn more about mortgage loans.
Don’t Get “PHISHED”
One form of “PHISHING” occurs when online crooks steal the Credit Union’s logo and/or copy its corporate image to send phony emails asking you to “verify” your account information. If you take the bait by replying with your private information, the “phishers” use it to steal information from your account.
Remember, your Credit Union will NEVER ask you to “verify” account details be e-mail. We already have this information! If you receive such an email, DON’T REPLY and notify the Credit Union immediately.