Internal System Conversion
We are excited to share with you that on October 26, 2020, an internal conversion to modernize and improve our core processing system will be completed. Although the current system has served the Credit Union and its 48,000 members well for over 30 years, it has become more challenging during the digital age to integrate with new technologies which improve both the employee and the member experience. This conversion will allow us to continue to provide members with safe, secure services, all while utilizing the newest technology.
San Francisco Federal Credit Union has partnered with Corelation, a core processing company established in 2009, with over 75 of America’s top credit unions as clients. Both organizations share similar values and are committed to relationship building and trust. The partnership between the Credit Union and Corelation will offer a more innovative core processing system and provide an improved experience for both the staff and for you, our members.
Corelation’s Keystone core system features a person-centric design, opposite of our current system today which is account-centric. This is one of the many features we love about the system, having the capability to serve members more efficiently by seeing all your associated accounts at a glance. The person-centric design is also visible to you, allowing you to easily navigate Online and Mobile Banking and the telephone banking service without remembering multiple log-in IDs and passwords, all because the system will recognize you as a person and associate all accounts linked to you. Additionally, the new system gives our team a complete and real-time view of accounts. From quicker member verification and faster information retrieval, to better fraud tracking and a more stream-lined application process, the new core is the best in the industry!
Although you may not see immediate changes to your experiences when the conversion initially takes place, over time as we are able to fully integrate the new system with other systems and technologies, your banking journey and experience with the Credit Union will improve significantly.
Statements: Since the conversion will be taking place during the month and not end of month, you will receive two member statements for the month of October.
- Regular statement for October 1 to October 25 (old system).
- Another statement for October 26 to October 31 (new system).
Account Access: During the conversion, which starts on Friday, October 23 at 3:00PM and going through Monday, October 26 at 8:30AM, you will not have access to your accounts. Online Banking, Mobile Banking and Telephone Banking will not be available. The Credit Union will re-open on Monday, October 26 during normal business hours and at that time systems will be back up.
Branch Closures: All branches will be closed at 3:00PM on Friday, October 23 and all day Saturday, October 24. If you need to conduct a transaction or withdraw any cash, please visit one of our branches before 3:00PM on Friday.
External Transfers: If you plan to make a transfer from a SFFedCU account to an external account anytime while our system is being converted (October 24 and 25), make sure the funds being transferred are in your account by Friday, October 23 because that is when the external transfer will take place.
ATM and Debit Card: Our ATM network will be kept up to ensure you can use your card. Cash withdrawals and debit card purchases can be made during conversion.
NEED HELP? Reach out to a Service Center Representative at 415-775-5377
What Can You Expect?
Work to convert to a new core is mostly done behind the scenes. But it will require us to close our branches and access to some services for the conversion weekend. We did our best to limit changes that would impact members, but some changes were necessary to create a stronger foundation for the new core. We have identified and outlined a list of things that you can expect to stay the same and things that will be different. Additionally, all members affected by any changes as a result of the core conversion will be notified by email, mail and, in some cases, personal phone calls from the Credit Union.
What is not changing?
- Routing number
- Checks, credit cards, debit cards and pin numbers
- Online BillPay, payees and payments
- Direct deposits and preauthorized payments
- Scheduled transfers
- Automatic payments
Notable changes, effective October 26:
Membership Numbers: Your membership number will vary slightly by becoming a ten-digit number. The additional numbers are a string of zeros added at the beginning of your current membership number. For example:
|Current Membership Numbers||New Membership Number|
Additional Accounts: With the current system, if you have additional products at the Credit Union, they all have the same account number and are differentiated by a suffix, such as: Membership Savings (S1), Additional Savings (S1.1), and Basic Checking (S23). In the new system, accounts will no longer have suffixes. Each account will be identified by a four-digit number with no letters (such as ‘S’, ‘L’ or ‘I’) and no decimals. Listed below are some examples of our product suffixes today and what the new four-digit numbering will look like. This is also how it will be reflected on your future statements.
|Account Type||Current Account Number||New Account Number|
|Personal Line of Credit||L2||0002|
Frequently Asked Questions
What is a core processing system?
The core processing system is the software that executes major Credit Union functions, including opening and managing accounts, originating and servicing loans, processing transactions (deposits, withdrawals and transfers), calculating interest and maintaining member information.
Why is San Francisco Federal Credit Union changing its core processing system?
San Francisco Federal Credit Union is committed to providing excellent member service and quality products and services. After 30 plus years on the current core processing system, the Credit Union has decided to make an upgrade. This conversion will enable us to enhance our capabilities, ultimately providing members better service and experience. The system is also much more user friendly for our team members, making it easier for them to do their work.
Are my funds safe and secure?
Your funds remain safe and secure at the Credit Union. Your savings are federally insured up to at least $250,000 by the National Credit Union Association (NCUA).
Is there anything I can do to prepare for the conversion?
You can review the address and phone number on your account(s) in Online Banking to make sure they are accurate. Remember to use that address as part of any purchase verification needed when using your credit or debit cards.
Will I receive a new credit and/or debit card?
No, your current credit and/or debit card and the associated pin numbers will remain the same.
Will my debit, credit and ATM cards work during the conversion?
San Francisco Federal Credit Union’s ATMs and our ATM network will be available during the conversion. Cash withdrawals and debit card purchases can be made during the conversion.
Please note: No ATM deposits will be allowed beginning Friday, October 23 at 3:00PM and until the conversion is completed. Any transaction you make using your cards after 3:00PM Friday will not be reflected on your account until close of business Monday, October 26.
Will there be any change in the way I use my debit or credit cards?
Yes, with our new system your debit and credit card will now be associated to your primary address as the card holder, regardless of the primary account holder's address. Use your address when making purchases with merchants who require it to verify card ownership.
Will Online and Mobile Banking work during the conversion?
Online and Mobile Banking will both be down during the conversion. If you have already scheduled bill payments or recurring transfers, they will be processed as normal. If you need to schedule any other payments or transfers, please do so by October 21, 2020.
Will I access my Online and Mobile Banking accounts the same way after the conversion?
Most members will not see changes to your Online & Mobile Banking log-ins. Some of you currently may have more than one log-in ID because of having multiple accounts. Since the new core functions as a person-centric system, you will only need one log-in ID to access all your accounts. A separate notification has been mailed to each member impacted by this with the appropriate instructions.
Will I now be able to see my full account numbers for transfers in Online and Mobile Banking accounts?
Yes. The NEW account numbers for both Checking and Savings accounts will be visible, so external transfers are easier.
Will Expressline and the way I access my account via telephone banking be impact?
Telephone banking with Expressline will undergo an upgrade and the following changes will occur:
- If you have more than one account at the Credit Union enrolled in the phone banking system, only one log-in ID and pin number will transfer over. You will receive notification as to which designated primary account will be used as your log-in ID to access all your accounts. After the conversion, you will be able to select another account as your primary account and have a different log-in ID, if you prefer.
- You will no longer need the two letters at the end of the account number. You can now simply just use your account number as your log-in ID.
- The new system requires a four-digit pin whereas the previous system allowed a minimum of two and maximum of 10. We will update your pin, as follows:
- If your current pin code is less than four digits, proceeding zeros will be added. Ex: Current pin code is 25, the new pin code will be 0025.
- If your current pin code is longer than four digits, the new pin will be the first four numbers used in your current pin. Ex: Current pin code is 87631209, the new pin code will be 8763.
- After the conversion, you will be able to update your pin number to a different four-digit code, if you prefer.
Will I still be able to use my checks and for how long?
Yes, your checks will remain valid. Use them until you get low and need to reorder more!
Are there other changes being made to my checking account?
If you currently have Custom Checking or Access Advantage Checking, starting October 26 these checking products will be automatically converted to our Basic Checking, a non-interest-bearing account, which has numerous benefits:
- No monthly maintenance fee
- No minimum balance requirement
- Free Online and Mobile Banking
- Free ATM/Debit Card
What will happen to my ACH debits (merchants taking money out)?
There will not be any impact. All transactions will post accordingly.
What will happen to my direct deposit?
There will not be any impact. All transactions will post accordingly.
Will my statements look the same?
Mortgage and Visa statements will be unchanged. If you have a credit card with us, we will close out your VISA statement on October 23 rather than the normal date of October 25. Any transactions after Friday, October 23 at 2:00PM will be posted to your November statement. As usual, you will receive your statement within 3-5 business days after the 25th. You will see some minor enhancements and slight differences to the consolidated statements for savings, checking, and personal loan accounts. Statements for Home Equity Line of Credit (HELOC) will also vary slightly, now only showing the last two digits of your membership number.
Why will I receive two statements for the month of October?
If you receive consolidated month end statements for savings, checking and personal loan accounts, then you will receive two statements in October, one generated from our old system for activities from October 1 through October 25, and one from the new system for activities from October 26 through 31.
Will I be able to access previous statements prior to the conversion?
You may access up to 7 years of statements online or through the Service Center, for a fee.
How far back will my transaction history go for Online and Mobile banking?
You will be able view up to two years of transaction history for savings and checking accounts and four years of transactions on your consumer loans and HELOCs. If you need access to your history outside of this timeframe, you may access up to 7 years of statements. Mortgage statements will remain the same.
Will I be able to use Shared Branching at another credit union during the conversion?
Yes, Shared Branching will be available, offering the same services.
Are there going to be changes to the Schedule of Fees?
Yes, the Schedule of Fees has been updated, effective October 26, 2020. Although you will notice some fee increases, we hope you will be satisfied to know that many fees were kept the same, while we also eliminated several fees, including:
- Health Savings Account Monthly Service Fee
- Official Check Fee (made payable to a third party)
- Same-Day Payroll/Government Checking Cashing Fee
- Savings Excessive Withdrawal Fee
- ATM/Debit Card Transaction Slip Fee
- ATM/Debit Card Replacement Fee
What will happen to Relationship Rewards?
Effective October 26, our Relationship Rewards Program will be discontinued. There will no longer be specific monthly benefits associated with the Avenue, Park or Bridge levels. This includes the Credit Union reimbursing ATM fees from other financial institutions outside of our ATM network. We want to remind you that San Francisco Federal Credit Union does not charge our members any fees for using an ATM outside of our network. The fee you are charged comes directly from the financial institution offering you the ATM service. Since these fees will no longer be reimbursed, to avoid a fee we encourage you to use one of the 30,000 ATM’s available nationwide that either belong to San Francisco Federal Credit Union or are part of the CO-OP network. (For a complete list, go to sanfranciscofcu.com/locator-search).
Will my Money Market Accounts stay the same?
If you currently have a Money Market Yield account, currently identified as an S8, you will see no changes. Your Money Market will transfer over as is. For members who currently have one of our legacy Money Market Accounts, currently identified with suffixes S3, S4, and S5, there are some changes. Money Markets with zero balances have been closed. If you have a current balance, it will convert to a Money Market Yield. The account has the same features including a minimum daily balance of $2,500 to earn interest, it can be linked to your checking account as an overdraft protection source, and linked to your debit card for ATM access. Please note that this account does charge a monthly service fee of $5 if a daily minimum balance of $2,500 is not met. Additionally, it earn interest on a monthly basis and not weekly.