News

Illinois CUSO pledges $500K in EMV assistance to member CUs

September 22, 2016

LSC, a Naperville, Illinois-based credit union service organization, has announced a plan to its 300 debit card member credit unions help cover the cost of the EMV chip initial enablement phase.

"This is an important investment by LSC which is meant to help lessen our credit unions' financial burden so they can move forward with EMV enabled cards," LSC President Tom Kane said in a press release. "LSC credit unions can rest assured that we will work through this process, one credit union at a time."

LSC said it also will continue to provide insight to its clients through the EMV enablement process.

"While the cost for EMV certification is not insignificant, LSC feels so strongly that we want to help our clients implement this necessary precautionary measure," said LSC Chief Operating Officer Karen Duffy. "Fraud continues to increase every day and LSC believes that EMV Enabled Chip Cards can help make a difference."