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Confused about your new Debit Chip Card?

Federally insured by NCUA

You likely have read or seen on the news that financial institutions and merchants in the United States are beginning to support “chip card” technology in debit and credit cards. This makes it more difficult for compromises of card information. While chip cards have already proven themselves to reduce fraud, the “newness” factor and change in how they are supported by merchants may cause members some inconvenience or confusion, especially if the merchants are not fully prepared to process chip transactions. Some merchants have not yet finished the hardware and software changes necessary to process a chip transaction. Until all U.S. merchants convert to the new technology, here are some of the situations you may encounter:

DO I INSERT OR SWIPE MY CARD?Before using your card, ask the cashier if they support chip technology. If they do, insert your card and follow the instructions. Some terminals have flashing blue lights to indicate where you can insert your card.

I SWIPED AND IT’S DECLINEDIf the merchant has programmed their terminal to accept chip cards, then they often have programmed it to not let you swipe your card. Insert your card and follow the instructions. I INSERT MY DEBIT CARD AND IT’S DECLINEDSome merchant terminals support chip technology but have only been programmed to support credit cards and not debit cards. You may need to swipe until the merchant has completed their migration.

THE MERCHANT SAYS “NEFCU DEBIT CARDS DON’T WORK HERE”The merchant’s terminal may not be ready to accept chip cards or be fully programmed for debit chip cards, or the merchant isn’t aware

of how the terminal works. NEFCU cards are industry standard and support both chip and mag-stripe features, so they work everywhere. If the chip does not work at the terminal, then you may need to swipe until the merchant has completed their migration.

ARE THESE CARDS SECURE?These cards are MORE secure than traditional mag-stripe cards. The data that is passed to the merchant when you insert your card into the terminal has dynamic data elements that cannot be reproduced. None of your personal information is stored on the chip!

WHY DO I SOMETIMES NEED TO ENTER A PIN?Because of Federal regulation, merchants are offered two options for forwarding your payment to the credit union. One option requires a PIN and the other does not. The choice of which network to use is up to the merchant and not under NEFCU’s control.

WHY IS NEFCU DOING THIS NOW AND NOT WAITING FOR MORE MERCHANTS TO ACCEPT CHIP CARDS? NEFCU believes that this technology will help protect our members. The emergence of chip cards is influencing merchants to upgrade their technology which will result in a more secure global payments network.

WHY AREN’T MORE MERCHANTS ACCEPTING CHIP CARDS?Both card issuers, like NEFCU, and merchants need to make expensive investments in this technology. In other countries like Canada, it took 2 to 3 years for chip technology to become fully adopted by both issuers and merchants.

If you have any questions, visit nefcu.com/chip or call TeleBranch at 800.400.8790.

A u g u s t 2 0 1 6

SHRED FEST™SAVE THE DATE!

NEFCU will hold the last FREE Shred Fest of the year on Saturday, September 10, from 9 am to 1 pm at our 141 Harvest Lane office in Williston. The Shred Fest allows you to securely destroy documents containing sensitive information through the services of SecurShred, a local document shredding company.

GREAT ESCAPE DISCOUNT TICKETS

Save money on your next trip to the Great Escape and Splashwater Kingdom in Lake George, New York. NEFCU members can buy a general use ticket for just $34.60! Kids 2 and under are free. Stop by a NEFCU branch today. Note: Great Escape charges a daily parking fee which is not included in the ticket price. Tickets are non-refundable. No returns or exchanges.

HOLIDAY CLOSING

The Credit Union will be closed on Monday, September 5, in observance of Labor Day. You can access your accounts 24/7 with Mobile Banking, NEFCUOnline, Text Messaging, ATMs or by calling Accountline.

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Seminars at nefcu

NEW TO MEDICARETuesday, August 9

VT DISTINGUISHED WRITERS’ SERIESDAVID A. DONATH

Wednesday, September 75:30 pm to 6:30 pm

MULTIPLE FACES OF FRAUDThursday, September 8

INTERNET SAFETYTuesday, September 20

THINKING ABOUT BUYING A HOME? PART ONE.

Thursday, September 22

THINKING ABOUT BUYING A HOME? PART TWO.

Thursday, September 29

These seminars will be held at NEFCU, 141 Harvest Lane, Williston unless otherwise stated. Seating is limited and reservations are required. All seminars are from 5:30-7 pm unless otherwise stated. Register at nefcu.com or call 800.400.8790.

When the unexpected happens, your finances can take a big hit. If your first reaction is to reach for a credit card, stop! Depending on your interest rate, paying with credit can cost you. But don’t panic, you’ve got options to cover those unanticipated costs.

A better option may be a personal loan. Here at NEFCU, we have a variety of loans that are designed to help you cover those extra expenses. Whether it’s an unplanned medical expense or

Students: Crash Course in Personal FinanceCollege years are the time when many people establish financial habits that will carry them for the rest of their lives.

Pay attention to these items to get off on the right financial foot:

• Spending plan: Get a clear idea about how much money is available for college expenses. Create a workable monthly spending plan that balances income, loans, and gifts with anticipated expenses.

• Records: Use an app to track expenses or monitor expenses online. Tally the running balance daily and balance financial statements every month. Tracking expenses might reveal some surprises and provide opportunities to change direction.

When Life HappensYou’ve Got Options.

repairs to your home or car, we can set you up with a low interest rate that lets you pay things off over time. Here are just a few things loans can be used for:

• Travel and holiday expenses • Weddings and special occasions • Veterinary bills • Heating fuel • Income taxes • Auto Repairs

Like all NEFCU loans, there are minimal or no fees and turnaround times are quick. To learn more or apply online, visit nefcu.com or call us at 866.80.LOANS.

• Credit cards: Commit to paying credit card bills in full and on time each month. Using credit wisely teaches you how to live within your means while creating a positive credit record that could help when buying a car, renting an apartment, obtaining insurance, and even landing a job.

• Organization: Keep all financial records, bills, and account statements in one location. This will help you pay bills on time, avoid late fees, and keep an unblemished credit score.

• Personal information: Learn about the different forms of identity theft, the kinds of personal information you need to protect, and how to protect information—even, and especially, from friends and roommates. Learn the pitfalls of careless, unprotected use of social media.

Copyright 2016 Credit Union National Association

Shared Access

Sometimes, you need to share account access with people you trust. With Shared Access, you can authorize selected individuals to perform financial management tasks within some or all of your accounts. Shared Access offers:

• Improved financial management – designate others to make payments and transfers, view balances, view check images and more.

• Complete control – manage permissions, set transaction limits, and require authorizations for certain types of transactions.

• Increased security – grant access without ever sharing your personal login information.

Shared Access is a great option for accounts shared among family members or within your business. To get started, here’s what you need to do:

1. Login to NEFCUOnline2. Click on “Additional Services” in the main navigation3. Select “Share Access with Others” from the drop-down

menu

For more information, visit nefcu.com and click on the Account Access tab.

I N S U R E . I N V E S T. R E T I R E .

Available through CUSO Financial Services, L.P. (Member FINRA/SIPC)

Financial Planning starts with us!

Let us help. Speak with a CFS* Financial Consultant today.

Jonathan WhitehouseFinancial ConsultantCUSO Financial Services, L.P.

whitehouse.cfsinvest@nefcu.com802-764-2626 • 800-400-8790

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. New England Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS and its Registered Representatives do not provide tax or legal advice. For such advice, please consult with a qualified professional. 1449_CSIJ76075096-00S

All Seminars are held at

NEFCU, 141 Harvest Lane, Williston, VT.

Scott M. HinmanFinancial ConsultantCUSO Financial Services, L.P.

hinman.cfsinvest@nefcu.com802-879-8792 • 800-400-8790

Reservations

SEMINARFinancial Planning in

the shadow of Dementia

Wednesday, September 28 * 5:30-7 PMNEFCU, 141 Harvest Lane, Williston

Call 802-879-8790 or 800-400-8790 to reserve your seat today or reserve online at nefcu.com. Seating is limited.

Thursday, April 28 * 5:30-7 PM NEFCU, 295 Tuckers Way, St. Albans