NAPERVILLE, Ill.– LSC has announced it will help to cover the cost of the EMV/Chip initial enablement phase for its more than 300 debit card member credit unions.
“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,” said Tom Kane, LSC president, in a statement. “LSC credit unions can rest assured that we will work through this process, one credit union at a time.”
While this funding is important, LSC said it will continue to provide insight to its clients through the EMV enablement process.
“LSC has been preparing for a few years, for the fact that EMV would require an additional investment for our credit unions to participate,” said Alan Meyer, LSC chairman and president/CEO of 1st MidAmerica Credit Union. “We are proud this preparation allows LSC to provide this investment to LSC credit unions and we are passionate in helping them mitigate their fraud losses.”