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Core Conversion

We’re excited to announce an update to our core banking system! The Credit Union’s core processor is the software that allows us to maintain account and loan information, process transactions, and support services such as debit cards and digital banking. As a result of the core conversion, our team will be able to serve you more efficiently and provide you with a better banking experience.

In order to complete our core migration, all systems be unavailable beginning on Thursday, August 15, 2024, at approximately 6 pm CDT.  We will be closed on Friday, August 16, 2024.  We anticipate having all systems fully restored on Monday, August 19, 2024, by 9 am CDT.

What to Expect

As with all system upgrades, some things are going to look differently. How will this conversion impact you?

  • Account Access – Online Banking, KayDe, Shared Branching, and Mobile Banking will be unavailable starting at 6 pm on Thursday, August 15th through Monday, August 19th. These services are scheduled to resume at approximately 9 am on Monday, August 19th. However, your debit and credit cards will work with the available funds in your checking account.
  • Share and Loan IDs – Your member number will remain the same however; your share and loan IDs will now be 4-digits
    • Savings account IDs will go from 1 to 1001
    • Checking account IDs will go from 2 to 2001
    • Loan IDs will go from 3 digits to 4 digits based on loan type (for example):
      • Credit cards will go from 141 to 0101
      • Auto loans will go from 121 to 0401
  • CardValet App – The CardValet App will be replaced with card controls that will be available directly within online and mobile banking.
  • KayDe Login – Members and joint owners will now have their own unique KayDe Login.
  • MICR line and SDC numbers – Members who have checks will need to reorder checks. Current checks will still be accepted until December 31, 2024.

We understand that you may have questions regarding this upgrade. A list of FAQs can be found here.

We appreciate your patience and understanding during this transition period. We will continue to send additional communications about our upcoming system enhancements. In the meantime, make sure that your contact information with Southwest Financial is always up to date.

Courtesy Pay

Effective August 19, 2024, there will be changes to the terms of our Courtesy Pay.  The Courtesy Pay Service is designed to provide you with an extra level of protection by covering overdrafts on your account up to a predetermined limit.  No additional action is required.  Please review the changes outlined below carefully.

Key Changes to our Courtesy Pay Program:

  1. Eligibility Requirements:
    • Previously: Eligibility was based on maintaining an account in good standing.
    • New: Eligibility is now dynamic and will be reviewed at least daily.
      • Must be over 18
      • Only one checking account per membership may opt in to Courtesy Pay
      • All your primary and joint accounts must:
        1. Maintain $25 balance in your primary share
        2. Remain active on all memberships and shares
        3. Remain current on all loans
  2. Coverage Limits:
    1. Previously: The maximum Courtesy Pay coverage was up to $1,000 for qualifying members.
    2. New: The maximum Courtesy Pay coverage will now be $300 for qualifying members.
  3. Fees:
    1. Previously: This fee was tiered based on the number of overdrafts up to $35.
    2. New:
      1. Transactions of $10 or less will not incur a fee
      2. Transactions greater than $10 will incur a flat fee of $30.
  4. Repayment Terms:
    1. Previously: Your Courtesy Pay transactions had to be repaid within 45 days.
    2. New: Your Courtesy Pay transactions must be repaid within 35 days to maintain your Courtesy Pay eligibility and with 60 days to maintain your checking account.
  5. Opt-In/Opt-Out Process:
    1. This service will continue to require your explicit opt-in and opt-out.

Frequently Asked Questions

Q: What is the “core data processing system”?

A: The core data processing system is the software and supporting hardware that Southwest Financial uses to maintain members’ deposit and loan accounts, process transactions, and support services such as debit cards and digital banking.

Q: Will my debit card still work during the conversion?

A: Yes, but account limits may be limited during the conversion.

Q: If I need cash during the conversion time, will I be able to use the ATMs?

A: Yes. You will be able to access the ATMs, but you will not be able to view your account balance. Please also note that withdrawal amounts may be limited during this time.

Q: Is my personal and financial information safe and secure?

A: Yes. The safekeeping of member account and personal information is Southwest Financial top priority. Personal data and account information will be safe and secure throughout the entire conversion process.

Q: Will office hours be affected during the conversion period?

A: Yes. Southwest Financial will close at 5:30 p.m. on Thursday, August 15th and will re-open on Monday, August 19th.

Q: Will my member number change?

A: Your member number will remain the same however; your share and loan types will be 4-digit Share IDs. (eg. – savings accounts will go from “1” to “1001”, checking accounts will go from “2” to “2001”, etc.)

Q: Will I be able to access Digital Banking through Online and Mobile Banking?

A: No. Online and Mobile Banking will be unavailable from approximately 5:30pm on Thursday, August 15th until we go live with the new core processing system on Monday, August 19th.

Q: Will I be able to access Bill Pay?

A: No. Bill Pay will be unavailable during the conversion. Scheduled bill payments that are set up to process by August 15th, will be processed as normal. After the conversion, please verify payments, payees, and amounts to ensure accuracy.

Q: Will I be able to access KayDe telephone banking?

A: No. KayDe will be unavailable starting at 5:30pm on Thursday, August 15th. Service will resume on Monday, August 19th.

Q: If I have a direct deposit coming in, will it work when you are closed?

A: Yes. Any automatic deposits you will process within the usual timeframes.

Q: What do I need to do?

A: We have been working hard to ensure a smooth transition for you. Please watch for future communications and ensure that we have your up-to-date contact information.

Q: What should I do if I have questions?

A: If you have questions, please visit swfinancial.org/conversion or call 214-630-7111

Want to learn more? Text us at 214.613.0834

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