Over the Summit
A big change is coming and it affects YOU! In order to provide our members with
the best possible service, MATCU is upgrading to a new core system provider. Our
current core system provider, Summit, will be replaced by a new and
technologically advanced core system called Miser in June 2009. While the date
seems far off in the future, we wanted you to be aware of this change and what
it will mean to you.
The new system will allow MATCU to offer more products and services that are
customized to meet your specific needs. It will also allow us to reduce
redundancy which means that your service will be faster, streamlined and more
efficient. In general, the core conversion will bring us one step closer to
achieving our mission, which is “To be the financial institution of choice for
our members, our employees and our community.”
Information about the core conversion process will be updated regularly with
FAQ’s, timelines and other pertinent data. Please check back often.
Frequently Asked Questions
Will this affect me?
Has MATCU been bought by
another bank?
What do I need to do to get
prepared?
Will I still have access to my
money?
What was wrong with the old
system?
Why was Miser picked?
When will the conversion be
finalized?
Will the account numbers change?
How will the direct deposit (ACH credits) and automatic drafts (ACH debits) be
handled?
What about certificates of
deposits?
Will it affect my
debit card and Internet banking?
Where can I get more information?
Will this affect me?
Yes, this will affect all members of
the credit union. The conversion may cause temporary outages but will enable
us to get a better picture of your whole relationship.
Has MATCU been bought by another
bank?
No. We are simply updating our system
to give you, our valued member, a system that can stay up to date with the
changing times.
What do I need to do to get
prepared?
Please read all communications sent
via email, letter or newsletter. Check the link on the web page (www.matcu.com)
to get new updated information.
Will I still have access to my
money?
Access may be limited during the
weekend of June 6-8, 2009. However, we will be issuing regular
communications to all of our members to ensure that your account and your
funds are available when you need them and to minimize any inconvenience.
What was wrong with the old system?
The system that we are currently using
was appropriate for our needs when we implemented it in 1991, however the
products and services that we offer to our members has increased
significantly and we need a system that can support that growth. The old
system did not have the capability that we need in order to support our
Commercial Business accounts, Mortgage Loans and Student Loan accounts. With
the system upgrade all members can expect better, faster, more efficient
service.
Why was MISER
picked?
After reviewing several options, MISER
was the best choice for our culture and community.
When will the conversion be
finalized?
The conversion will take place the
weekend of June 6-8, 2009. Branches will be closed June 8th and will reopen
Tuesday, June 9th.
Will
the account numbers change?
Yes, your account numbers will change,
but the numbers will look similar to your current member number and you will
not have to order new checks.
How will the direct deposit (ACH credits) and automatic drafts (ACH debits) be
handled?
Upon conversion, MATCU will send
Notifications of Change to the issuers of those transactions with the new
account numbers. However, we do recommend that members notify their direct
deposit and automatic draft originators with the new information. The new
information for these transactions will be provided around the end of May.
What about certificates of deposits?
The maturity date and interest rates
will not change on the current certificates of deposits.
Will it affect my
debit card and Internet banking?
No. Your debit card and internet
banking will automatically change over with the conversion.
Where can I get more information?
You can call 901-385-5200 or visit
your local branch for any additional information. You may also type your
question in below with your contact information and someone will follow up
on your concerns.
