Online Banking - Your Neighbourhood Credit Union

A Message from the Chief Executive Officer
of Your Neighbourhood Credit Union
Dear Member,
2014 is a very exciting year for Your Neighbourhood Credit Union. We are working hard to continue to offer
exceptional service while making a few updates to improve your banking experience with us. Some of these
changes will require attention on your part, but by being aware of upcoming changes you will continue to
receive the best service possible, without interruption.
Planting the seed
This spring Your Neighbourhood Credit Union will undergo an exciting change to our banking system to a more
advanced and user-friendly banking system that will help us to serve you even better.
Putting members first
The decision to undergo this conversion was made with you in mind. Our new banking system will make it
easier for us to see your whole financial picture, and by doing so we will be able to better understand your
needs. Upgrading our technology is going to mean that you will have more options on how you bank with us,
and this is a good thing for everyone.
Grow with us
We have been working hard to minimize any potential inconveniences you may experience as a result of
conversion. However, it is more important than ever to fully read any communications you receive from Your
Neighbourhood Credit Union, because much of what we will be sending will have important information to
make things more convenient for you.
Changing banking systems is no small matter – and we’re going to do our best to keep you informed of all of
the details that you need to know before, during and after conversion. We appreciate your support during
this exciting time and are looking forward to continuing to grow with each and every one of you, our valued
members. For more information, contact your branch or visit www.yncu.com.
Sincerely,
Kerry Hadad
Chief Executive Officer
Your Neighbourhood Credit Union
We’re planting
the Seed for
some Major
Improvements
We’re Planting
the Seed for
some Major
Improvements
YNCU is working to provide you with an
enhanced banking experience, and that
requires some down time between May 23rd
and May 26th.
All branches that are normally open on Saturdays will be closed
on Saturday May 24th, and we’ll also be closing access to online
and telephone banking between May 23rd at 6 pm until Monday
morning, May 26th. Your debit card will continue to work at ATMs
and for payment at POS machines.
What is a banking system and why is
ours changing?
A banking system is the internal software that we use
to manage your daily transactions. Instead of simply
updating our current software we are upgrading to
an entirely different system with new and better
features. Staff will find the system easier to use and
more efficient and members will gain access to new
and in-demand services.
Will my money be safe?
Yes. As always, your peace of mind is our utmost
concern. We have taken the proper steps to ensure
that your account data will transfer over to the new
system correctly. Closing down access to some services
over the weekend provides even greater security.
Even though conversions are a normal banking
practice, we understand you may have questions. For
your peace of mind you may want to retain all of your
statements to double-check that all your accounts are
as they should be. Staff can access transactions on the
old system if you need this information.
What will not be changing?
The following will continue to function as usual:
Member Numbers (also known as your CIF)
Chequing and Savings Account Numbers
Mastercard® Credit Card
MemberCard® Debit Card
Direct Deposits
Pre-authorized Transactions
Statement Delivery
Your bill payment vendors and nicknames
in online banking.
What should I expect during conversion
weekend, May 23rd – 26th?
During the transition to our new system there will
be some service interruptions. Online and telephone
banking will not be available over the conversion
weekend from 6pm on Friday, May 23rd until
opening time on Monday, May 26th.
You will be unable to pay bills, transfer funds or
check your account balance over that weekend.
However, ATM deposits and cash withdrawals and
point-of-sale purchases with your debit card will still
be available.
Any of our branches that would normally open on
Saturdays will be closed.
Remember – every member should have their own
debit card and secret Password. When you sign in,
you will see all of your accounts, including those you
are joint on. To maintain security and privacy, every
member should have their own ID (debit card) and
Password.
Please Note: If you are an online banking user
without a debit card, you will have to obtain
one in order to access online banking after
conversion. We mailed a letter in February
to all members without a debit card advising
them of this change; if you did not receive this
notice, please visit any branch and ask for a
debit card to access your online banking.
Telephone Banking
What can I expect after the conversion?
Will there be any changes to telephone banking?
There is the potential for line-ups in the branches in
the week after conversion while our staff get used
to working on the new system. If you can delay inbranch services like US dollar and foreign currency
transactions, bank drafts and official cheques, that
would reduce your wait time. We appreciate you
being patient and bearing with us!
Yes. You will use the same member ID, but your
Password will change to the one included in this
envelope. Telephone banking will also sound
different. We have completely upgraded the
telephone banking system to include much more
detail about all of our branches. Please listen to the
prompts as some of the selections you’re used to
may have changed.
Online
Banking
Please Note: After conversion, the numbers to access
telephone banking will be:
Will I access my
online banking
the same way?
519-576-5353 or 1-866-759-7555
No. After the conversion you will have to use the
full number on the face of your debit card as your ID.
Your Password will also change. THE FIRST TIME YOU
LOGIN TO ONLINE BANKING, use the temporary
Password or Personal Access Code (PAC) included in
this envelope. After logging in for the first time with
your new PAC, you can change it to the password of
your choice.
If you’re using coverdraft to allow us to draw from
available accounts to cover cheques or payments,
there’s even more to like! You’ll soon be able to draw
from accounts through any ATM or when paying by
debit. Not signed up? Contact your branch and we’ll
set it up for you today!
This method of logging in is common among
financial institutions, and adds even more
safeguards to an already secure channel.
How do you make logging in easier?
If you like, you can set your computer/device to
remember your login ID (your debit card number);
you will still have to enter your secret PAC.
We’ve got you Covered
Accessing funds from your overdraft or Line of
Credit (LOC)
On your statement and online banking you’ll see your
LOC is split into two - the LOC itself, and the connected
chequing account where you’ll transfer funds and then
make your transactions.
After conversion, you’ll be able to access funds easily
on online banking, at ATMs and at debit machines. Sign
up today!
Paying it down is easy! Overdrafts and LOCs
have been set up so your chequing account will
automatically pay back withdrawals when funds are
available, and regular scheduled payments will be
automatically paid, avoiding late payments and NSFs.
Details about your loan, mortgage
or Line of Credit (LOC)
When you look at your statement post conversion,
you’ll see some great improvements!
All of your lending products will show the current
rate, any past due amounts and when your next
payment is due. For variable products, you’ll see if
and when a rate changed, and LOCs will show the rate
at the start and at the end of the reporting period. It’s
all the information you need, all in one place!
While loan account numbers are changing, this will
not affect the terms of the contract in any way.
Paper Statements and
eStatements
Statements will be more personalized and descriptive.
For example, we will now list joint account holders
on statements (not just the primary account holder).
If you have a loan or mortgage, we’ll show you how
your payments are broken down by principal and
interest.
We are not transferring account history; that means
all transactions and balances on the new system will
start from Friday May 23rd after 6 pm. We will issue a
statement for transactions from May 1st to the 23rd
up to the moment of conversion, and then another
from the moment balances are transferred to the
new system on May 23rd, up to the end of June.
You’ll see that your closing balance on the May
statement will equal your opening balance on the
June statement.
Staff in the branches will still be able to
access the old system if you need to see
your transaction history.
However, if you signed up for e-statements before
conversion, any online statements that you have in
your online banking will still be accessible in the new
online banking system. With telephone banking, you
will only be able to access account information dated
Friday, May 23rd onwards.
PASSBOOKS
When upgrading to a new system,
sometimes older technology can no
longer be supported.
UNFORTUNATELY OUR NEW
SYSTEM IS UNABLE TO
SUPPORT PASSBOOKS.
We realize that this will be quite a
change for some members and we want
to do everything possible to support you
through this transition.
MEMBERS WHO CURRENTLY
USE A PASSBOOK WILL BE
SWITCHED TO AN ONLINE
STATEMENT; THIS IS FREE
AND ACCESSED THROUGH
ONLINE BANKING.
If you would prefer to receive a mailed
statement instead, please visit your
branch to make this change. You can
also request a receipt at no charge for
your current transaction, or an instant
statement detailing the current month’s
transactions. After August 1st 2014, the
instant statement will be $2 each.
For our senior members who have an
Advantage59 account and a passbook,
you can request an instant statement
in-branch (free of charge) for the
transactions you have performed during
the current month. You can also request
a receipt for your current transaction at
no charge.
Watch for announcements
about when these new
services will be available!
Email money transfers
Transfer funds (almost instantly) to your
accounts at other banks or financial
institutions or to other people
Mobile web
Mobile banking app
Mobile banking SMS (text banking)
Cheques
If your cheques bear the name of a credit union that
merged to become part of Your Neighbourhood
Credit Union, you need new cheques. If one of the
following names is on your cheques, bring them to
your branch for safe destruction and to receive a
FREE replacement order:
Brant Community Credit Union
Mitchell & District Credit Union
Your Neighbourhood Credit Union
(in Windsor and LaSalle prior to the merger)
Grand River Credit Union
Me2Me transfers
Fiberglas Employees (Guelph) Credit Union
Remote deposit cheque capture
Standard Tube (Employees’) Credit Union
(take a picture of a cheque with your cell
phone and deposit anywhere)
Direct alerts about transactions on
your account delivered to your email
CRA payments
Online account opening
Waterloo Regional Credit Union
Direct payments/payroll: Don’t forget about VOID
cheques: If you are required to get new cheques and
have previously provided a VOID cheque to a vendor
or employer for automatic withdrawals (e.g. hydro,
taxes, memberships) or deposits (e.g. pay, taxes) into
your account, you will have to provide them with a
new VOID cheque.
Look at the bottom of your cheque. If it does not
start with
followed by your
account number, you will need new cheques.
Where can I find
more information?
A conversion project is complex and many things
can change. Please visit our website for ongoing
and important updates on the banking conversion.
Additionally, you can contact your local branch with
any questions.
www.yncu.com