By now you may have heard of, or even been impacted by, the global semiconductor microchip/EMV shortage. The United State's demand for consumer electronics near the start of the pandemic lead to many supply chain issues. And now, global events have only exacerbated supply-chain problems. Factories in China are being placed in lock-down due to their Zero-Covid policy, and now even with the Russian invasion of Ukraine, we're seeing the threat of the global supply of neon, which is used to make chips.
The chip shortage has impacted many industries, like the automobile industry, but we're now starting to see the effects on the financial industry and payment cards. Your debit and credit cards use chip technology to process your payment, and without them, you could start to see a delay or shortage in the cards you use everyday.
SafeAmerica Credit Union is not immune to these supply-chain issues and, unfortunately, we are starting to see the effects on our own cards. Our vendor who supplies our card plastics and microchips for our debit and credit cards has come into a chip supply issue. This shortage has recently caused a delay in the processing and mailing of expiring debit and/or credit cards.
We are reaching out directly to those who are effected, but if run into any issues, please let us know.
We understand the importance of accessibility to your accounts and thank you for your patience and understanding during this time.
