Firefighters Community Credit Union puts chips on fraud protection - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business

 

Firefighters Community Credit Union puts chips on fraud protection

Group is among first financial institutions in Northeast Ohio to issue more secure EMV cards to its customers

Photo credit: REBECCA R. MARKOVITZ

By MICHELLE PARK LAZETTE
4:30 am, January 26, 2014

When Firefighters Community Credit Union in Cleveland distributes 5,400 new credit cards to members early this year, it will become one of the first financial institutions based in Northeast Ohio — if not the first — to introduce a type of card to consumers that industry insiders say will proliferate this year and next in the United States.

It is called the EMV chip card. The slow adoption in the United States of the cards, which contain embedded microprocessors that provide security features not possible with traditional magnetic stripe cards, has been criticized following the Target breach, when criminals gained access to tens of millions of credit and debit card accounts between Nov. 27 and Dec. 15.

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