Hampton Roads Educators Credit Union, Inc. was awarded a $10,000 grant through the National Credit Union Administration to replace current debit cards with contactless debit cards for its members.
The grant monies will help fund the conversion costs of producing the new cards. The contactless cards will be issued to members at renewal date, before card expiration date, in the event of damaged cards, fraud or lost/stolen, or replacement of their current debit card. The cards will enhance security and transaction ease and speed for members.
“By having the latest technology, the credit union can remain competitive in the marketplace as well as make the debit cards more secure when used at an ATM where skimmers are possible,” stated HRECU CEO Karen Orie. “The contactless cards should become available to members by summer 2025.”
The NCUA is the governing body of credit unions. This year, the NCUA awarded grants ranging from $1,100 to $100,000 to credit unions in 37 states. The agency receiv...