Innovative Service Empowers Cardholders to Prevent Fraud

People lock their homes and cars to keep them safe and secure. Now they can lock their credit and debit cards for the same reason. Imagine the peace of mind your cardholders will experience when they can apply an additional level of security to their accounts to supplement the protection your credit union provides.

That’s what our revolutionary CardLock solution does for you and your cardholders. With a simple phone call to a secure, automated system or by visiting the CardLock website, your cardholders can block and unblock authorizations to their accounts as they choose – anytime, anywhere.

The innovative concept of empowering cardholders to participate in the security of their own accounts represents an entirely new, proactive and cost-effective approach to fraud and loss prevention.

The CardLock difference:

• Gives cardholders active role in protecting their accounts
• Enhances cardholder’s perception of credit union’s commitment to security
• Builds cardholder confidence and peace of mind
• Integrates with credit union’s security strategy
• Reduces potential fraud losses

Works with Falcon Fraud detection monitoring

First CUSO To Deliver This Preventative Technology

We are the first CUSO (Credit Union Service Provider) to deliver advanced neural network technology that examines incoming credit and debit authorizations for potential fraud—in real-time. CUNA Mutual, the bond coverage underwriter for many credit unions, endorses this technology as an effective fraud management tool. Each authorization is analyzed using a database that contains profiles of merchants and cardholder behavior. Any fraudulent activity automatically updates the database, so that fraudulent attempts can be immediately detected and both current and future attempts can be prevented. Our Falcon Fraud Detection Center reviews each suspicious transaction, reviews the cardholder account and calls the cardholder if necessary.

Other activities that proactively reduce the risk of fraud are our detailed authentication processes for card activation and the co-mingling of cards with other mail to reduce the risk of mail fraud. Our well-trained Contact Center representatives handle activation calls. Cardholders are asked to confirm proprietary personal information as well as identify unique data from the card. U.S. cardholders receive a toll-free number and international cardholders received a collect number. Both Visa and MasterCard report that these techniques significantly reduce the risk of fraud. These security techniques can also earn a discount from insurers, while increasing cardholder confidence and boosting loyalty.

Protect Your Members With Our Affordable Identity Theft Solution

Victims of identity theft spend an average of 40 hours and more than $400 to restore credit and identification information.

Users of financial services are understandably concerned by recent large-scale thefts of personal information. PSCU Financial Services’ affordable and comprehensive identity theft solution delivers peace of mind for your members—with turnkey solutions and support that help your credit union meet FACTA compliance requirements.

Our Identity Theft solution can be offered several ways. The Blanket program provides a low-cost way to offer complimentary identity theft protection for your members. Basic coverage includes: an assigned recovery advocate that assesses damage, creates a recovery plan that includes the use of limited power of attorney, and corrects all incidents of fraud. This plan also provides 12 months of post-recovery follow-up. The CLUB program offers the same managed edentity recovery services described above, but the benefit also extends to the member’s family including children under 25 and parents in the same household. Advanced coverage adds continuous credit monitoring with weekly alerts that identify account activity, educational materials and identity theft insurance of up to $10,000 in reimbursement expenses. Customizable marketing materials including branch posters, brochures, and statement inserts are available to all subscribing credit unions.

The identity theft solution from PSCU Financial Services offers several competitive advantages including: managed recovery, coverage of identity theft events that occurred before enrollment and no exclusion for identity theft by family members. Credit unions also receive fee income for all enhanced coverage subscriptions. In addition, we can supplement your Red Flag Strategy, by providing a written plan template and a gap analysis, as well as employee education and training.