NORTH CHESTERFIELD, Va. — Virginia Credit Union is issuing EMV plastic to its 60,000 cardholders.
Though industry insiders say the massive Target Corp. data breach is moving CUs to chip cards sooner, the $2.6 billion VCU said that is not the reason for the change.
"Our plans had been underway since last summer to reissue cards," said Deb Wreden, SVP of product and delivery strategy. "We recognized the addition of chip technology as an opportunity to add additional security features for members and improve convenience for those who travel outside the U.S."
Most of the chip cards will arrive in cardholders' mail next week. VCU's move follows recent decisions by the $2.3 billion-asset Affinity CU, Basking Ridge, N.J., and the $200 million
The New-York based United Nations FCU was the first FI in the country to migrate to EMV.
