Coming to a Wallet Near You - IH Mississippi Valley Credit Union

CHIP-ENHANCED CARDS:
Coming to a Wallet Near You
After numerous large-scale data breaches in the
past few years, many U.S. card issuers are making
the switch to new technology that’ll improve
payment security, making it more difficult for
fraudsters to successfully counterfeit cards. EMV
(which stands for Europay, MasterCard and Visa) is
the global standard for chip-enhanced credit cards
that use embedded computer chips to process
transactions in a way that’s nearly impossible to
duplicate.
At IH Mississippi Valley Credit Union, we want to
provide you with the most up-to-date security
features available. You’ve been asking for it, and
we’re making the transition to chip-enhanced credit
cards later this year. As we get ready to make the
switch, we want to make sure you have all the
details about this new technology.
You’ve heard people talking about them and you’ll
be using one soon, but how much do you really
know about chip-enhanced cards? We’ve pulled
together some frequently asked questions to help
you understand how this new technology works,
how it protects your information, and how the
switch will affect you.
How is a chip-enhanced card
different from a magnetic-stripe card?
The magnetic stripe on the back of traditional credit
and debit cards contains unchanging data—like
your card number, expiration date and CVV code.
If a fraudster gains access to that data, they have
all the information they need to duplicate your card
and start making purchases.
Chip-enhanced cards, on the other hand, contain
an embedded microchip that creates a unique,
one-time use transaction code every time the card
is used. If a fraudster steals information from one
specific transaction, they can’t duplicate the card in
the traditional way. Because the chip creates codes
that can only be used one time, attempting to reuse
a transaction code would likely result in the card
being denied.
Chip-enhanced technology won’t stop hackers from
CONTINUED ON PAGE 3 >>
IHMVCU Awards $26,000 in Cash for Class Scholarships
We awarded 26 $1,000 scholarships to IHMVCU
members for the 2015- 2016 school year at an
awards dinner in May. The 26 recipients were
chosen from more than 200 applicants.
This year’s recipients and the schools they’ll attend
are pictured left to right:
Front row: Caitlyn Doran - Milwaukee Institute
of Art and Design, Jessica Martzahn - Shepherds
College, Allison Condit - Bethel College, Brooke
Higbee - University of Wisconsin, Mikayla CarberLake Michigan College, Jessica Moon - Valpraiso
University, Katlyn Weber - Carl Sandburg College,
Katelyn McChesney - North Central College,
Danielle Steffen - Augustana College, Kori
Mesecher - Illinois State University.
Back row: Ian Spangenberg - University of
Northern Iowa, Josie Nickas - Western Illinois University, Brock Titlow - University of Illinois, Austin
Sanders - University of Dubuque, Alex Freeman-
Paying for college just got a little easier
So you’ve graduated. Now what? If
you’ve entered repayment on your
student loans, we can
help. IHMVCU now offers
IHMVCU consolidation
consolidation of private
loans feature:
student loans.
• An online application process
When you consolidate
• No origination
your private student loans
or pre-payment fees
with IHMVCU, you can
• Extremely competitive rates
rest easy knowing you
only have one monthly
• Standard and graduated
payment. Plus, our
15-year repayment terms
competitive rates might
For more information,
save you a lot in interest.
visit ihmvcu.org/studentloans.
Federal student loans,
like Stafford, Perkins
and ParentPlus are not eligible for
consolidation with IHMVCU.
2 | SUMMER 2015 ihmvcu.org
Carl Sandburg College, Shakisha Grays - Knox
College, Grace Rosson - Iowa State University.
Not pictured: Sydney Cerizo - Iowa State
University, Brooke Chapman - Wartburg College,
Calvin Denecke - Illinois State University, Brittany
Edwards - Southern Illinois University, Billie Franks
- Augustana College, Tyler Hast - Western Illinois
University, Tyler Schurk - Iowa State University,
Kristina Todorovic - Western Illinois University.
Skip the waiting room
IHMVCU offers a new health benefit for members
Looking for a way to decrease your
medical costs without neglecting your
family’s healthcare needs? IH
Mississippi Valley Credit Union
members have access to a special new
benefit: Telehealth.
Our Telehealth plan offers diagnosis
and treatment for a variety of common
health conditions from the comfort of
your home, office or on the go. With a
simple phone call or video chat, you can
talk to a board-certified physician and
even receive prescriptions, if necessary.
Telehealth will also inform your primary
care physician if you receive a
prescription or other medical advice.
It’s estimated that a Telehealth call can
save you $100 or more compared to the
cost of an in-person non-emergency
visit. Plus, on average Telehealth saves
users two to three hours of time
compared to a traditional doctor’s office
visit.
Telehealth isn’t meant to replace your
doctor, but it’s an easy way to save both
time and money. IHMVCU members
can enroll in Telelhealth for only
$9.99 a month for individuals, or
$14.99 a month for families. Visit
IHMVCUtelehealth.com to learn
more about Telehealth and enroll now.
CONTINUED FROM PAGE 1
stealing data, but it’ll be much harder for them to
profit from the information they steal.
How do I make purchases
with a chip-enhanced card?
Instead of swiping to pay, like a traditional
magnetic-stripe card, chip-enhanced cards use
a process called “card dipping.” Chip-enhanced
cards are inserted into the terminal, and the chip
sends data back to the issuing financial institution
where the unique transaction data is created.
Card-dipping takes a little longer than the
traditional swipe method—the card has to stay in
the terminal for the whole time the transaction is
processed. If you take it out too quickly, the
transaction will be denied.
Will I still have to sign
for my card transaction?
Yes. You’ll be using a chip-and-signature card,
which isn’t much different from the credit card
you use now. Just like a traditional credit card,
you’ll sign at a point-of-sale terminal to authorize
transactions.
Can I use a chip-enhanced card at a retailer
that doesn’t support EMV technology?
If chip terminals aren’t available, you can still use
your card to make purchases. Right now, chipenhanced cards are backwards compatible,
meaning they still have a magnetic stripe that can
be used at traditional terminals.
prompting you to insert the card for chip
processing instead.
If you’re unsure whether you should dip or swipe
your card, the terminal will walk you through the
process. If you dip your card into a chip reader that
isn’t activated yet, an error will appear prompting
you to swipe your card instead. Same goes if you
swipe your chip-enhanced card at a chip
terminal. The terminal will present an error
Many card issuers will be making the transition
from traditional magnetic-stripe cards to chipenhanced cards this year, and IH Mississippi Valley
Credit Union is no exception. Your security is our
top priority, and we’ll be issuing more
information about our transition to chip-enhanced
credit cards later this year.
ihmvcu.org SUMMER 2015 | 3
“The time has gone fast,” said Hall.
“I’ve had the pleasure of working
with a talented group of colleagues
throughout my career. Together we
built an institution that’s improving
the financial well-being of our
members and returning value to those
who need it most.”
Hall served as President of the
Illinois Credit Union League from
2010-2012 and was inducted into
the Illinois Credit Union Hall of
Fame in April 2015. He was also
named Executive of the Year in
2005 by the CUES (Credit Union
Executive Society) Illinois Council.
Hall has been active in legislative
committees, the Illinois Quad Cities
Chapter of Credit Unions, Junior
Achievement and United Way.
In 2013, IHMVCU and Hall were
awarded the Better Business Bureau
Integrity Award.
“Credit Unions were founded on the
philosophy of ‘People helping
People’. Throughout his career,
Dennis has lived that motto. He has
shared his knowledge and expertise
with credit unions throughout the
region, regardless of their asset size,”
said Connie Adkison, President of
Moline Municipal Credit Union. “It’s
been my pleasure to know and work
with him. I look forward to the next
chapter at IHMVCU.”
Moving Forward
IH Missisippi Valley Credit Union
Board of Directors elected Brian
Laufenberg as the new CEO. He’ll
continue
to serve as
Executive Vice
President of
support and
COO in the
interim.
Laufenberg has been with IHMVCU
for 10 years, and has worked in the
financial industry for 32 years. He’s
a Certified Credit Union Executive
(CCUE) and recently completed the
CUES CEO Institute. Previously he
served as Vice President of Finance
for Ascentra Credit Union.
IHMVCU has changed in many
ways since Hall’s first day in 1987.
To say that his time with the credit
union has been successful would
be an understatement. During his
tenure, IHMVCU has grown from
$124 million in assets and 35,000
members to nearly $1 billion in
assets, and more than 116,000
members. In his time as President,
the credit union completed five
mergers and opened 14 new
locations.
2005 1987
Dennis Hall, President and CEO of
IH Mississippi Valley Credit Union,
announced that he will retire in
January 2016. Hall has been with the
credit union for 28 years, serving as
President for the past 18.
Milestones
6 branches
35,000 members
$124 million in assets
2015 2010
IHMVCU CEO Announces Retirement
IHMVCU
has 103,460
members
$514
million
in assets
Today, we have 17 branches,
116,817 members and
$910 million in assets, and
are on track to surpass $1
billion by the end of the year.
Every 30 seconds, a RE/MAX agent helps
someone FIND their perfect place.
IH Mississippi Valley Credit Union
helps you BUY it.
ihmvcu.org | qcelitehomes.com
Subject to credit approval. Equal Housing Lender. NMLS #463074.
IH Mississippi Valley Credit Union is not compensated by REMAX Elite Homes. The credit union
does not warrant or guarantee any services by REMAX Elite Homes.
ihmvcu.org SUMMER 2015 | 4
YOUR 2015 MEMBER ADVANTAGES
Keep the whole family happy and have some fun with IH Mississippi Valley Credit Union Member Advantages!
We partner with area businesses and attractions to bring you the best, exclusive discounts, all year long.
This year we’ve really outdone ourselves. For a full list of details, visit ihmvcu.org/memberdiscounts.
Summer
Putnam Museum
Members can
enjoy BOGO
tickets now through August.
Free Swim Summer!
EVERY DAY – ALL SUMMER LONG, members receive one FREE admission
with purchase of a general admission ticket to area pools.
Fall/Winter
Pride of the Wapsi
Quad City River Bandits
DeWitt Aquatic Center, DeWitt
Monmouth Municipal Pool,
Monmouth
Members can enjoy
BOGO tickets for
Wednesday and
Thursday home games.
Enjoy
BOGO
tickets
to the Pumpkin Patch the five
weekends before Halloween.
East Moline Municipal Pool,
East Moline
Prophetstown Park District Pool,
Prophetstown
Country Corner
Lakeside Water Park, Galesburg
White Water Junction, Rock Island
Milan Lanes Bowling
Oasis Family Aquatic Center,
Kewanee
West Burlington Pool,
West Burlington
Members can enjoy BOGO games
now through August 31. Offer does
not include shoe rental.
Six Flags: Great America
Chicago
Six Flags: St. Louis
RME Live at 5
Free
summer
concert
series
presented by the River Music
Experience every Friday (through
Sept.) from 5-7 p.m. in the RME
Courtyard in downtown Davenport.
Niabi Zoo
Enjoy BOGO
tickets in
August and
September. Members can receive
one FREE ticket with the purchase of
a regular priced ticket.
Mississippi Valley Fair
FREE Parking
Members get FREE parking at
Davenport West High School during
the Mississippi Valley Fair, Aug.4-9.
Splash Landing, Bettendorf
Milan Sprayground, Milan
Annie Wittenmyer Aquatic Center,
Davenport
Riverside Pool, Moline
Avoid long
lines and
save by
buying
tickets in
advance with
the following
special
promo codes all season
(through Oct.).
SixFlags.com/PartnerLogin
username: IHMVCU
password: SixFlags6
Great America July Special:
IHMVCU members receive half
priced tickets for the following
dates: July 18-19 and July 25-26.
SixFlags.com/Great America
Promo code: IHMVCU
Save by buying in advance with the
following special promo code all
season (through Nov.).
SixFlags.com/PartnerLogin
username:IHMVCU2
password: SixFlags8
Adventureland
Receive discounted tickets to
Adventureland Amusement park
in Des
Moines.
Simply download the digital coupon
found on our website.
Wisconsin Dells
Members
get one free
ticket with
the purchase
of a Fall Fun
Park Pass.
The park is
open mid-September – October.
Quad City Arts’
Festival of Trees
Enjoy BOGO tickets
Nov. 21-29.
All discounts require proof of
membership. Member
Advantages are open to the
following partner credit
unions: Moline Municipal CU,
Quad Cities Postal CU,
Service Plus CU, Gas and
Electric CU, KONE CU,
1st Gateway CU and
Western IL CU.
IHMVCU members can save
25-30% (based on number of
attractions) when you buy tickets
in advance. Download the coupon
found on our website.
Facebook & eNews
Want to be in the know? Sign up for our
monthly eNewsletter by visiting
ihmvcu.org and clicking on
Email/Subscribe on the homepage.
5 | SUMMER 2015 ihmvcu.org
Don’t forget to follow us on Facebook at
facebook.com/myihmvcu for the most
up-to-date happenings at IHMVCU.
FCT Seminar
Understanding your
Retirement Options
& Estate Planning
From preparing for retirement and managing your money once you get
there, to ensuring your finances and legal documents are in order after
you’re gone, First Community Trust wants to help you understand your
options and make the right decision for your unique circumstances.
If you’re unsure about how to plan your estate or need help managing your
finances in retirement, join IHMVCU and FCT at the next FREE retirement
and estate planning seminars.
Federally insured by NCUA | Equal Housing Lender | NMLS #463074 | ihmvcu.org
ESTATE PLANNING
Many people assume that revocable living trusts are just for the wealthy,
but the benefits they can offer to the average person are significant. Learn
about all the essential estate planning documents, including last will and
testaments, revocable living trusts, irrevocable trusts and more on:
Wed., Aug. 19
9:30 – 10:30 a.m.
RiverCenter, Davenport
Wabash/Wisconsin Room
UNDERSTANDING RETIREMENT
Most people know how to save for retirement, the tricky part is managing
your money once you get there. Saving money is only half the challenge.
FCT understands the ins and outs of retirement investing and works with
you to create a personalized plan that fits your life.
Wed., Aug. 19
11 a.m. – Noon
RiverCenter, Davenport
Wabash/Wisconsin Room
Reserve your spot for one or both of these FREE seminars today. Call or
email Christina at (309) 793-6200, ext. 80685 or [email protected],
or register online at ihmvcu.org/FCT.
Important Dates
Sat., Aug. 15
Prophetstown
Movie in the Park
“Space Jam”
Dusk
Wed., Aug. 19
Estate & Retirement
Planning Seminars
9:30 a.m. – Noon
Sat., Aug. 29
Silvis Moonlight Parade
Dusk
Sat., Sept. 5
Kewanee Hog Days Parade
10 a.m.
6 | SUMMER 2015 ihmvcu.org
Septe
7
mber
Mon., Sept. 7
All branches closed
in observance of Labor Day
Wed., Sept. 9
Monmouth Prime Beef
Festival Parade
5 p.m.