No Cost Workshops to Help You be Financially and Professionally Savvy

Summit Credit Union is Here to Help You

2022 Alliance sponsor feature article courtesy of Summit Credit Union

It is never too late to change your financial health and overall wellbeing. As a partnership benefit of Summit Credit Union, we offer no-cost virtual and in-person workshops to our members and non-members. Below are some of our workshops to help you be financially and professionally savvy.

• Fraud and Identity Theft: We may all be targets, but we do not have to be victims. Find out what schemes crooks are currently using to try and steal your money. Learn how to protect yourself from fraud attempts.
• Understanding Your Credit Score: Discover how credit scores are determined, how to raise your credit score, and how to avoid common mistakes that lower your score. It’s not always common sense.
• Diversity and Inclusion in the Workspace: What is diversity and inclusion? Learn how to encourage inclusive actions and behaviors in the workplace. Explore why it makes good business sense to incorporate a diversity and inclusion strategic plan of action, and how it can impact growth and revenue for your company.

Our workshops typically run 45-60 minutes, but can be divided into two parts for shorter sessions. Most can be presented in a Lunch ‘n Learn format, either in-person or online. Visit SummitCU.org or contact your Regional Partnership Manager at Partners@SummitCU.org for more information or to schedule an on-site or virtual workshop for your team.

About Summit Credit Union

Summit Credit Union was established in 1935 and is a full-service not-for-profit financial cooperative, providing services to employees at over 300 companies throughout North Carolina. It has about 37,000 members and approximately $338 million in assets. Summit Credit Union offers a full portfolio of personal financial products, including checking accounts, debit cards, credit cards, online banking, direct deposit, mobile app, ATMs, and more.

For more information, visit SummitCU.org and follow us on Facebook, Instagram, Twitter, and LinkedIn.

Side-stepping Liability with EMV Compliance

2016 Alliance feature article by Total Merchant Services

Hardly a day goes by when there isn’t a new story reporting massive credit card breaches somewhere in corporate America. In 2015, victims included heavy-hitters such as Hilton, T-Mobile, CVS, and Scottrade.  No sector of business is safe from data assault. As a result, U. S. banks, along with brick in mortar merchants, faced serious pressure to increase credit-card security measures by implementing Smart-Card technology.

Looming Data Theft
“While no one is really trying to steal medical data, per se, data thieves are very interested in obtaining customer credit-card information,” says Andy Elliott, National Accounts Executive, Total Merchant Services. “That makes a medical practice just as vulnerable to credit transmission interception as Target or Home Depot.”

In the past, credit-card companies absorbed costs associated with fraud, but in October 2015, that liability was shifted to merchants – unless they upgraded to an EMV (Europay, Mastercard, Visa) smart card terminal.

Thwarting fraud with EMV
“EMV cards have embedded computer chips that are attached to end-users’ personal account numbers,” Elliott says.  The data is protected in an integrated circuit (rather than a magnetic strip), and there’s a dynamic code that resets after every use. They are almost impossible to counterfeit.

How will Smart Cards Impact Me?
“If you complete an in person sale after October 1, 2015, using the magnetic strip on an EMV compliant card, and that card turns out to be counterfeit, then you will be liable for a charge back for the full amount of that transaction” adds Elliott. “This is new, in the past, you were not liable for any counterfeit credit card transactions.”

Contributed by Andy Elliott, National Account Executive, TMS
andy@tmsnc.com
704-904-7753