CITY FEDERAL CREDIT UNION

CORE SYSTEM IMPROVEMENTS FREQUENTLY ASKED QUESTIONS

City Federal Credit Union Will Be Updating Its Computer System on April 1, 2016

March 02, 2016

Q:  Why is the credit union converting to a new computer system?
A:  The credit union is using a system over 27 years old and the software company will no longer support it.  We have as objectives with this new system: security, system stability, improved ease of use, processing speed, and the ability to offer additional services.

Q:  Will I still be able to go to the branch and speak with a teller?
A:  Of course, we love to see you.  All credit union branch services and staff will remain as personal and family friendly as they are today.

Q:  Will you still mail me my paper statements?
A:  We will continue to provide paper statements as we do today.  We will also offer enhanced electronic statement capabilities that have improved storage capacity.

Q:  Will my checking account or member number change?
A:  We will have the same member numbers.  For each new account, there will be a suffix for the account.

Q:  Will I be able to use my existing checks after the conversion?
A:  Yes your old checks will still be good.  Your debit card will not.  A new debit card will be mailed to you during the last week of March.  You will have to activate the new card.

Q:  What new things will the credit union be offering?
A:  Debit Card Rewards Program, Credit Card Rewards Program, Low Rate Credit Cards, Apple Pay, Samsung Pay, Mobile App Banking, Home Banking, Bill Pay, Payment Originations, Multiple Checking Accounts, Improved Money Transfers, Improved Web Site, Member Business Accounts, Member Business Lending, Improved Multiple Savings Accounts, Mobile Deposit Capture, Multiple Ways to Transfer Money for Loans, Better e-Statements, Longer e-Statement Retention, Better Online Transaction Inquiry, Improved Safety and Security of All Credit Union Transactions.

Q:  Will we be getting the new security chip for our debit cards and credit cards?
A:  The debit card EMV Chip will be in place by April 1, 2016.  The credit card EMV Chip will be in place by August 1, 2016.  These Chips are the highest level of card security available today.

Q:  Will the credit union’s hours of business change?
A:  No.  During the conversion, on April 1, 2016 the credit union will not open until the computer system is operational.  Our planned opening time is 12:00 pm noon, but this may vary on that day.

Q:  Why is the middle drive-thru broken?
A:  A member had an accident which made the middle drive-thru lane unusable.  We are processing the insurance claim and obtaining the materials to replace the drive-thru tubes.  (The original tubes are no longer available).  An additional safety feature will be video cameras at each drive-thru tube.

Q:  Will getting a loan change?
A:  The basic process of getting a loan will be the same.  A loan officer can assist you in person or on the phone.  We require a completed and signed loan application.  We will roll out additional ways to start the application process through our website and our mobile banking application.

Q:  Why do I have to re-sign up for Virtual Branch?
A:  The product is changing from Virtual Branch to a new system called Home Banking.  It will require a new ID and Password.

Q:  Will my e-statements be saved on the new system?
A:  No.  All credit union members will get (at no cost) a paper statement for month end March 31, 2016.  There will be an additional time period to download any previous e-Statements from the old system.  We will announce a deadline by which the old e-Statement system will no longer be accessible.

Q:  Why are we making all these changes, I like the credit union the way it is?

A:  The system upgrades are for safety and soundness purposes.  We can’t keep “driving” this old system no matter how much we like it.  The improvements are a matter of choice and convenience.  Many members want to come into the credit union and see a teller.  They can.  Many members want to use their phone any time of day or night to access their money.  They can.  Each of us is an important member with a different set of needs.  The credit union needs to offer these services to all members to grow the credit union, keep it a viable choice for financial services for City employees, and develop new members.

Q:  When can I come to the credit union and learn more about these improvements?
A:  The credit union is offering informational meetings on Monday, March 21, 2016 at 4:00 PM and Tuesday, March 29, 2016 at 10:00 AM.

Q:  What if I still have questions?
A: (1) Call us.  (806) 373-4313.  (2) Come into the branch.  (3) Email FFrazzitta@CityFederal.org. (4) Ask to see the credit union’s CEO, Frank Frazzitta.  We will address your concerns.

 
Thank You for Allowing Us to Serve You
Frank Frazzitta
Chief Executive Officer
City Federal Credit Union
And Our Employee Team