Why has Wainwright Credit Union changed to a new banking system?

• This new system, a new wave in banking, allows us to serve you better. It fully integrates in-branch, ATM, POS, Internet and telephone banking systems. It is considered to be a suite of integrated retail banking products that enables Wainwright Credit Union to meet today’s ever-changing business needs and positions us to grow and adapt to industry trends.
• Conversion to the new banking system is part of an overall strategy to enhance services, delivery, and reporting channels of Wainwright Credit Union.
• Your name has always been important to us. This new banking system confirms that fact – when you do your banking with us, you are a name – not a number. Now, when you do your banking, numbers are less significant, YOUR NAME is all WE NEED.
• This new system offers increased security for all of your transactions.

Has Internet banking and telephone banking been changed?

The first time you access Internet or telephone banking, you will need to use the 19 digit (PAN) number on your Member Card. If you currently have more than one Member Card and use Internet or telephone banking, you will need to use the card with the lowest PAN number for login. For your password, use LAST FOUR digits of the card you used for login, followed by the number “8” as your personal access code (PAC) to sign on to Internet banking. You will be prompted to change it. PACs must be 5-8 digits (numbers only). Follow the links to find out about the enhanced services for Internet banking and telephone banking.

How do I reference my accounts now?

Names of the accounts types have not changed (eg. If you have a Plan 24 or a Wright Choice Plus prior to conversion, you will have a Plan 24 or a Wright Choice Plus after conversion. You now have a great option available to you. You are now able to rename your deposit and savings accounts to anything you wish and that change will follow into all aspects of your banking. If you rename your Blue Chip Account to My Vacation Account, when you do your banking on-line, by phone or in person, that is what you will see and how we will reference your account in talking to you. You don’t have to worry about any more numbers (though account numbers have changed), just a name that means something to YOU. Your savings and deposit account numbers have changed to 12 digit numbers that still contain your current 7 digit number. All other account types have been assigned new random 12 digit numbers. But what’s in a number… when you have a name picked by you?

What is an Account Suffix

When you access an ATM, Internet or telephone banking, you will notice a new suffix attached to your account. This new suffix has no relationship to your old sub number. It was generated as new numbers were assigned to accounts.If you have multiple accounts it will be important to get to know the suffix to your account. This will be your reference number at ATMs, on Internet and telephone banking. You can rename your chequing and savings accounts using Internet banking. To find out how, click here.

Because account numbers have changed, how does this affect the cheques I have?

Your current cheques will clear through the system for one year after conversion. Be aware that the deadline to comply with the new cheque standards set by the Canadian Payments Association (CPA) is September 2, 2008 – AUGUST would be a good time to order a standard supply of cheques – new cheques will automatically include your new account number and will be CPA compliant. Please note, if you order your cheques from Davis & Henderson and have ordered in the last year, they will already be CPA compliant, however, you will still have to order new ones within the year after July 11, 2008 as they will need to include the new account numbers. Visit any branch, we’ll be happy to help you.

What happens with AFTs (automatic payments / transfers) and other pre-authorized transactions that I have set up?

Direct debits and direct deposits will continue as normal. All pre-authorized transfers and payments between accounts will continue to operate and be processed normally - this includes loan payments. These transactions will continue on dates as scheduled. If you schedule EXTRA payments on your loans using Internet banking, you are not able to remove them from the schedule. Contact us if you wish to remove them from the schedule. As account numbers have changed, during the months following conversion, we ask you to provide your new account numbers to all companies/service providers with whom you have automatic debits and credits set up. Don’t forget the ones that only occur once a year, like an annual insurance premium.

What about CRA payments and other on-line bill payments?

There has been an impact to Canada Revenue Agency payments (you have to re-schedule them and re-add CRA as a payee on your list). All other payees you had programmed into your cuanytime list should appear as normal (with an exception explained below), however, any pre-dated or re-occurring bill payment schedule you have created on your Internet account will need to be re-created (e.g. you have set a future payment to Telus Communications to occur on July 31 – this will have to be set up again). This is a one-time issue as once you have re-set up your payment schedules, your payments will continue as you have programmed them to do. Payee List Display Change: If you are on more than one Membership (eg. you are a signer on your child’s account), you now also see their payee list. You can delete payees from these additional accounts from your viewing screen and it will not affect the membership owner’s on-line banking view. Please note that if you make an in-branch bill payment, that payment now shows up as a scheduled payment in the Internet banking system until it is processed (over night processing). As the new Internet banking system allows you to delete certain scheduled payments, be aware that you could delete it by mistake while it awaits processing.

Do I have to come in to my branch immediately now that conversion is over?

No. It’s business as usual. If you have questions, please come in and talk to us.

What about my account fees?

There are no changes to accounts fees. Our package accounts continue to be provided at the same cost you currently pay.

Will there be any changes to my monthly statements?

Yes, your monthly statements will look slightly different. See sample statement excerpts below and opposite. All members will receive final statements from the previous banking system dated July 11, 2008. Your first statement from the new system will be as per normal July month-end (business) and August mid-month (personal).