Newsletter
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Saskatoon City Employees Credit Union is converting to a new banking system the weekend of July 16th to 19th Please read the following information about: ü The changes you will see, ü Our conversion weekend schedule and ü How you can prepare for conversion Although our existing software has met our needs for many years, a more flexible up-to-date system is required to meet new initiatives and technology advances, and to support our long-term growth. Most credit unions in Saskatchewan, Alberta and Manitoba have adopted this new banking system and aresharing in the cost and operational support. Significant resources have been committed to this conversion to make this as seamless a process as possible for you. Our staff have been temporarily reassigned to the conversion team and all staff have received extensive training over the past few months. Important Reminders Online Banking Future-dated or recurring bill payments and scheduled transfers you have created on your online accounts will process as usual after conversion; however, please make a note of those items and check that they are showing up accurately after July 19, 2010. Please refrain from scheduling bill payments during conversion weekend as they may not process. All payments to the CRA for the month of June must be made prior to July 16, 2010 to ensure payments are processed in a timely manner (and are not subject to penalty). Scheduled loan transfers will not show in the scheduled transfers section but will continue to occur. Mobile Banking service will need to be setup again after July 16, 2010. Your account history prior to July 16, 2010 will not carry over. To retain this history, please print off or download and save it to your computer prior to July 16th. From July 17th onward, up to 2 years of information will be available online. All accounting programs will need to be set up again after July 16th. All memorized accounts set up on your login page will need to be set up again. After July 17th, the URL (web address) for online banking is changing. You will need to update any bookmarks. The Transfer to another member’s account feature on business accounts will be temporarily disrupted but will be restored 2-3 weeks after conversion. Personal accounts will not be affected. hyperWALLET® will be temporarily unavailable for approximately 3 weeks after conversion. ATM Receipts After the conversion, the Available Balance on your ATM receipts will be calculated somewhat differently than before. BALANCE refers to the amount of funds that are currently on deposit. AVAILABLE now represents the amount of funds on deposit, PLUS your line of credit PLUS your savings accounts available for cover-drafting (less any holds). Card Products We expect our debit cards to operate as usual during conversion weekend, but encourage you to carry alternative payment methods such as cash, cheques or credit cards, just in case. After conversion, if you have a Member Card®, you must complete an ATM transaction at least 30 days prior to your card’s expiry to ensure your card will renew properly.
E- STATEMENTS
RE: e-Statements Access After July 17th
ATTN MORTGAGE HOLDERS On July 19, 2010 Saskatoon City Employees Credit Union is converting to a new banking system. The new banking system will impact the way mortgage payments are applied on certain mortgage loans. Currently some Credit Union mortgage loans are based on a semi-annual calculation of interest where payments are applied first to principal while interest accrues for six months and at the end of each semi-annual period that accrued interest is added back to the principal balance. To facilitate the transition to the new banking system following the next compounding date on each of these mortgage loans, payments will be applied first to accrued interest with the balance to principal. Borrowers whose mortgages will be impacted by this change will be notified by letter and subsequent mortgage loan statements will show payments applied first to interest. Those statements will provide formal notice as to when the actual application of payments has changed. If you have any questions regarding conversion to the new banking system, please feel free to contact the Credit Union
Saskatchewan MasterCard Telephone Scam Blitz On the morning of Sunday, January 18, 2009 , many members of two Saskatchewan Credit Unions were flooded with scam calls from fraudsters posing as MasterCard Security representatives.The calls, which attempted to steal credit card numbers and personal information, began at 10:30 and ended by noon. The fraudsters, posing as credit union representatives, claimed , "your ( the CU name) Credit Union MasterCard has become compromised and needs to be replaced immediately. Please provide your card number and CVC2 ( the 3 digit security number on the back of the card) so we can proceed with replacing your card." They also asked for Personal information such as Date of Birth and SIN.
Some of the area codes the calls originated from were: 214-231-5439 ( Texas),
678-805-0458 ( Georgia).Saskatchewan MasterCard Telephone Scam Blitz
Word Format - Business Terms & Conditions - EDF 179.01 Word Format - Personal Terms & Conditions - EDF 169.01
Phishing
Scam Alert - December 27, 2007
Email Fraud Alert Several of our members regularly receive emails that appear to come from reputable financials institutions. Usually these emails with ask you to reactive or verify information on your account with their institution. An email from 1st United Services Credit Union is the most recent one to hit many of our mailboxes. It reads: Dear
Customer, From:
Customer Service In order to
read the message
click here to login at This is not a valid email - banks and credit unions do not ask you to verify personal or account information by email. Please delete these type of emails immediately.
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