Execute Your EMV Plan

Most CUs are 'not far along' on EMV implementation.

July 1, 2014

Most credit unions are “not far along” on EMV implementation, says CSCU President Bob Hackney.

But that’s OK, so long as they’re poised to move.

“Last year, CSCU did a lot on EMV and how credit unions need to start planning for it,” he says. “Now, credit unions need to start executing on the plan.”

The key date is Oct. 1, 2015, when Visa and Master- Card will shift fraud liability to the least secure entity.

Credit unions don’t need to, and probably shouldn’t, do a mass reissuance of all members’ cards, he said. Instead, they should roll out the EMV chip cards over time.


Credit unions can start with their employees to learn from the experience. Then, move to high priority groups of members—such as those who are likely to be foreign travelers—and work on the more inactive cards down the road.

Additionally, credit unions should prioritize their Security needs first when implementing EMV, Hackney says. Members don’t have liability, credit unions do.

“I’m not sure the consumer is very aware of EMV,” Hackney says. “Do they really understand what it does, what it doesn’t do, and how it works? I don’t think they do.”