Online Banking
Member's Guide to Conversion
Your credit union converted to a new computer system the weekend of February 12–15, 2010. Post-conversion, our Lilly-Based Branches and Call Center will remain open one hour later for your convenience from Tuesday, February 16 through Friday, February 19.
Refer to the following correspondence for specific information about our other changes. Please take the time to review the letters, guide and Frequently Asked Questions carefully so that you will know what to expect and how to plan accordingly.
- Member Correspondence Letter – December 28, 2009
- Member Correspondence Letter – January 20, 2010
- Member's Guide to Conversion – January 20, 2010
- SAMPLE -- New ELFCU Account Statement
- NEW 2010 Conversion Update: March 24, 2010
We hope you will see these brief outages as a small price to pay for improvements that will lay the groundwork for service enhancements for years to come.
Q: Why am I receiving two February statements from ELFCU?
Q: Why did my statement close on February 26 rather than February 28?
Q: Why does my ELFCU statement look different?
Q: Why am I seeing multiple loan payment entries on my new statement?
Q: Why can’t I see all of my eStatements in the drop down menu in eBranch?
Q: How can I view all my accounts on one eStatement?
Q: Why can I see account information in eBranch that wasn’t visible prior to the conversion?
Q: Why is my statement showing that I’ve earned a savings rate higher than normal?
Q: Why is no rate shown for my dividend-bearing checking account(s)?
Q: Why isn’t my mortgage information shown on my statement?
Q: Will Mint.com still work with my Credit Union accounts the same way after the conversion?
Q: Why is this system conversion happening?
Q: Is the credit union still secure and sound?
Q: How is Eli Lilly & Company pay day impacted by the conversion?
Q: Are my Bill Pay transactions affected by the conversion?
Q: Can I still use shared branches after the conversion?
Q: Will the conversion require me to use a new debit card?
Q: What member services options will be available after the conversion?
Q: Will my eBranch transfers be affected by the conversion?
Q: How will my ELFCU credit cards be affected during Conversion?
Q: Why am I
receiving two February statements from ELFCU?
A: As a result of
our core system conversion, members will receive two separate statements
for the month of February. The first included account activity from
February 1–12; the second, reflecting a new look and format, will
include account activity for the remainder of the month.
Q: Why did my
statement close on February 26 rather than February 28?
A:
Statements now process on the last business day of the month
rather than the last calendar day as before.
Q: Why does my
ELFCU statement look different?
A: As a result of our core
system conversion, all statements now have a new, easy-to-read look and
format. You can view
a sample of the new ELFCU statement here.
Q: Why am I
seeing multiple loan payment entries on my new statement?
A: Due
to post-conversion loan payment processing issues, multiple entries of
loan payments may appear on some statements. Rest assured, any
transactions that processed inaccurately and any corresponding fees have
been reversed and will be reflected accordingly on your March
statement.
Q: Why can’t I
see all of my eStatements in the drop down menu in eBranch?
A: If
you are a joint owner on an account, you will now view the joint
eStatement differently within eBranch. To view linked eStatements,
choose the green link to eStatements at the top of your screen.
You will need to enter the primary member’s member number and PIN to view the corresponding statement. If you don’t know the PIN or you’d like to reset the PIN, simply follow the instructions on the login screen, or contact ELFCU Member Services for assistance: 800.621.2105.
Q: How can I view
all my accounts on one eStatement?
A: To view information for
all of your accounts on a single monthly eStatement, you must establish
primary ownership on all your accounts. Member Service and the ELFCU
branches can assist you with changing or adding ownership status.
Q: Why can I see
account information in eBranch that wasn’t visible prior to the
conversion?
A: Members are now able to see information in eBranch
for all accounts on which they are either primary or joint owners. If
you are not a primary or joint owner on an account, you will not be able
to see information about that account in eBranch. To start the process
of adding or removing joint account owners, please visit an ELFCU Branch
or contact our Member Service Center at (317) 276-2105 or (800)
621-2105 for assistance.
Q: Why is my
statement showing that I’ve earned a savings rate higher than normal?
A:
On the February 12-26 statements, Savings accounts disclose an Annual
Percentage Yield (APY) higher than actually earned. This is due to the
shortened statement period associated with our core conversion. The
disclosures for savings accounts will appear correctly on your next full
month statement.
Q:Why
is no rate shown for my dividend-bearing checking account(s)?
A:
On the February 12-26 statements, Checking accounts do not disclose an
APY. This is due to the shortened statement period associated with our
core conversion. The disclosures for checking accounts will appear
correctly on your next full month statement.
Q: Why are my
year-to-date totals for Overdraft Paid Items and Returned Item Fees
inaccurate on my statement?
A: Beginning 01/01/2010, statements
included a boxed disclosure of Overdraft Paid Items and Returned Item
Fees. This box will appear on the statement only if there’s been a
related fee between 02/13/2010 to 02/28/2010, but the Year-to-Date total
will not be accurate. We are working with our statement vendor add the correct YTD totals.
Q: Why isn’t my
mortgage information shown on my statement?
A: First Mortgage
account information appeared on your February 1-12 ELFCU statement. Any
mortgage activity from February 13-26 may be viewed via eBranch. Or you
may contact ELFCU Member Service at 800.621.2105 for details.
Q: My loan
payment is automated and was scheduled for February 15, but the payment
isn’t showing up on my account. What do I need to do?
A: Please arrange to make a
payment on your loan as soon as possible. Loan payments can be made on a
one-time or recurring basis online via eBranch. You can also contact
the credit union by phone to make your loan payment. Any late charges
that may have been automatically assessed for the February 15 payment
will be reversed. Additionally, no information relating to the February
15 payment will be reported to the credit bureaus.
Q: My loan
payment that was scheduled for February 15 is not showing up yet in
eBranch. Do I need to take any action?
A: Please arrange to make a
payment on your loan as soon as possible. Loan payments can be made on a
one-time or recurring basis online via eBranch. You can also contact
the credit union by phone to make your loan payment. Any late charges
that may have been automatically assessed for the February 15 payment
will be reversed. Additionally, no information relating to the February
15 payment will be reported to the credit bureaus.
Q: Will Mint.com still work with
my Credit Union accounts the same way after the conversion?
A: Due
to a technical issue on the mint.com site, ELFCU members are temporarily
unable to access their accounts via mint.com. Mint.com is aware of the
situation, and is currently working to resolve it. This answer will be
updated as additional information is available. Thank you for your
patience and we apologize for the inconvenience.
Q:
The interest rate for my Certificate is incorrect on my February
mid-month statement. What do I need to do to correct this?
A: No
action is required. The Certificate interest rates displayed on February
mid-month statements are not representative of the rates that will be
paid on these deposit accounts. The correct interest rate for all
accounts is represented in the credit union’s systems. Dividends will be
paid correctly at the end of February, and will appear correctly on
your February month end statement.
Q: I have measures
in place to cover overdrafts on my account, but I am seeing that my
account is overdrawn. What action do I need to take?
A: No action
is required. Existing overdraft coverage is in place as it was prior to
the conversion, but overdraft processing will now take place once each
day, during the overnight timeframe. This means that accounts with
overdraft activity may display a negative balance until processing
completes overnight.
Q: I have an
account with a debit card from Indiana Members Credit Union. My debit
card typically works in ELFCU ATMs, but hasn’t been working since the
conversion. When will I be able to use my IMCU card at an ELFCU ATM
again?
A: Indiana Members Credit Union debit cards will work at
ELFCU ATMs again starting on Monday, March 1. All other CO-OP branded
debit cards currently work with ELFCU ATMs, and ELFCU debit cards are
working at all ATMs as they did prior to the conversion.
Q: Why is
this system conversion happening?
A: It is the credit union’s
responsibility to ensure that we utilize the best possible tools and
resources. We are consistently reviewing our options, and several
factors including the age and effectiveness of our current system led us
to determine that converting to a better technology system now was the
right decision for us and our field of membership.
Q: Is the credit
union still secure and sound?
A: Yes. In 2010, ELFCU will
celebrate its 80th anniversary. We have been and continue to be a stable
player in the financial marketplace. We work hard to offer highly
competitive rates and serve our members, and we will continue to do so.
Q: How is Eli
Lilly & Company pay day impacted by the conversion?
A: Our
branches will be open on Friday, February 12 to correspond with Lilly
pay day that day.
Q: Are my Bill Pay transactions affected by the
conversion?
A: All existing Bill Pay transactions will remain in
place after the conversion. Any bill payment or transfer that is
pre-scheduled to occur during Conversion Weekend will be honored.
Q: Can I still use
shared branches after the conversion?
A: Yes. Shared branch
transactions will be impacted only from Friday February 12 at 3:30 p.m.
through Tuesday, February 16 at 1:30 p.m. After that time, the shared
branch network will be available for transactions again, as usual.
Q: Will the
conversion require me to use a new debit card?
A: No. Existing
credit union debit cards, ATM cards and credit cards will continue to
work before, during and after the conversion. There will be no downtime
for existing cardholders.
Q: What member services options will be available
after the conversion?
A: Our branches, eBranch online banking,
Member Service call center and Member Service chat will all be available
after the conversion is complete. Lilly-based branches and the call
center will remain open an hour later than usual from Tuesday, February
16 through Friday, February 19.
Q:
Will my eBranch transfers be affected by the conversion?
A: All
transfers between ELFCU accounts will be honored as usual, and not
affected by the conversion. If you have scheduled transfers between
ELFCU and another financial institution via eBranch, those will be
honored through February 15, 2010. Any transfers that have been
scheduled for February 16, 2010 and beyond will need to be rescheduled
after the conversion is complete. This rescheduling will only be
necessary one time; any transfers scheduled in the new system starting
February 16, 2010 will occur as normal.
Q:
How will my ELFCU credit cards be affected during Conversion?
A:
As we’ve stated previously, you will be able to use your ELFCU credit,
debit and ATM cards normally throughout Conversion. However, due to a
separate outage at FIA Card Services, ELFCU’s credit card providers, you
will be unable to use online banking at www.fiacardservices.com
between the hours of 11:00 p.m. on Saturday, February 13 and 7:30 a.m.
on Sunday, February 14. If you try to access your credit card account
during that time, you will encounter an error message.
We hope you will see these brief outages as a small price to pay for improvements that will lay the groundwork for service enhancements for years to come.
