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HomeTown Bank Newsletter
 409-763-1271 www.htbna.com May 2016
 

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Tips on the Upcoming �Chip�
by Angela Brooks, Senior Vice President
Angela Brooks, Senior Vice President
As HomeTown Bank approaches the issuance of our EMV Chip Card, we thought you might like an overview of the EMV Smart Card.

What Is EMV? 

EMV (Europay, MasterCard, and Visa) commonly refers to the fraud-reducing technology that is built into payment cards with a smart chip.  Visa, MasterCard, American Express and Discover have established EMV as the standard card technology in the United States.  A smart card chip is a small computer (or microprocessor) that has its own data storage, processing power, and application software. Unlike a magnetic stripe card, a chip is extremely difficult to crack.

Online Danger:

Every country that has switched to EMV cards has seen an increase in online fraud. Fraud doesn't go away, it just goes somewhere else, and that somewhere else is always online. The thieves can still steal the card number and expiration date, which still can be used online. Although the transition to EMV is expected to lead to less counterfeiting of cards, it will also encourage fraudsters to move to new areas of vulnerability. If counterfeiting physical cards is more trouble, criminals will naturally turn to buying items online with stolen credit card numbers.

So, although we are excited about the future of EMV in the United States, we must be vigilant in protecting our online purchases.

EMV Security: 

The smart chip embedded in the EMV card adds layers of security that goes beyond the magnetic strip. A smart chip offers greater security because it contains a secure vault that holds unique keys specific to each card that protect your transactions. A magnetic strip card houses all of the required information on the strip.  This has made it easier for the fraudsters to place skimmers over the card readers at gas stations and at ATM machines. Each EMV transaction is protected with advanced cryptography and a numeric code that changes for each transaction which allows the terminals to authenticate the card.

The benefits of the EMV Chip Card:

  • Safer transaction in person
  • A more thorough authentication process
  • Reduced identity theft risk
Your new chip debit card will arrive by mail with instructions in the near future. Please feel free to contact us with any questions you may have.

Congratulations! Jenny Chatman Promoted to Assistant Vice President and BSA Officer:
Jenny Chatman has been promoted to Assistant Vice President and Bank Secrecy Act (BSA) officer.

Lemonade Day Galveston 2016

Lemonade Day Galveston 2016 was a huge success with a record 1,200 Young Entrepreneurs.

15 Minutes with Jimmy Rasmussen
Our President & CEO Jimmy Rasmussen was recently featured in Independent Banker magazine! Click here for full article!

50th Anniversary Coloring Contest!

If you�re in Kindergarten through 8th grade, color the attached picture and enter to win a HomeTown Bank Minor $avings account, with the first $250 deposit on us!

Melissa Wright has been voted Employee of the Year!
Melissa Wright, Real Estate Processor at the Galveston Seawall location, has been named HomeTown Bank�s Employee of the Year! Congratulations, Melissa!


13th Annual Red Hat Luncheon

HomeTown Bank of Pearland and friends attended the 13th Annual Red Hat Luncheon, benefitting the Adult Reading Center.


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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.




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