Why did we upgrade to a new banking system? back to top
Lakeland Credit Union embraces personalized, friendly service, and local decision making and is sensitive to the needs of our employees, members and communities in North East Alberta. While our values remain constant, our financial world is continually changing.
To stay current in today's changing marketplace, we needed to implement a new banking platform. The previous system we used had reached its maximum potential and its expiry date had been set. With this new technology, we now have a more flexible system that will be able to meet your needs while supporting the long-term growth of our credit union.
When did the changes take place and what was affected? back to top
The conversion process occurred over the weekend of May 7th to May 10th, 2010. Internet banking, statements, telephone banking, debit card limits, cheque details, automatic funds transfer details, and account numbers were all modified along with our banking system. Read on to cover the fine points and to discover other helpful tips about internet banking and more.
How secure is my personal and account information? back to top
We've taken the necessary steps to keep all your information safe and secure before, during, and after the conversion. The transfer of all our data occurred internally, and sound records were verified in the new system to ensure that both your personal and financial information was completely accurate as per our past system.
Have any of Lakeland Credit Union's products or services changed? back to top
With the exception of no longer offering telephone banking, Lakeland Credit Union continues the same product and service line-up and the same competitive rates you enjoyed pre-conversion.
How have my account numbers been updated? back to top
There is no more need to memorize numerous account numbers; all you have to give us is your name! Reflected on your statement, you will see your old accounts numbers with a couple extra digits added the front, but these numbers will not be needed to perform your day-to-day banking transactions. For quick and easy recognition, you will be given the option to nickname your accounts while all those accounts will be listed under you name for more convenient financial service. See the "
What changes have been made to my statements?" section for instructions on nicknaming your accounts.
What changes have been made to my statements? back to top
You will get a statement for every account your name appears on, which will mean a lot more paper. You may want to consider switching to electronic statements if you don't require a paper record. Although electronic statements have been temporarily unavailable since conversion, they are now restored on MemberDirect. Paper statements have been issued since the conversion, and will continue to be delivered until you request the suppression of this mail-out. If you had previously (before our conversion) ended your paper statement, please be assured we will restore your personal settings as soon as possible.
We recommend 'nicknaming' your accounts if you have trouble recognizing them by their updated numbers on your statement (see "
How have my account numbers been updated?" for more information). This can easily be done when you login to your online banking. Simply click My Profile along the top row of choices and then choose Rename Account from among the column of options on the let side of the screen. This will make your accounts easy to recognize for self-serve transactions as well as for over-the-counter service since we can see your nicknames too!
What about my common share dividends and patronage bonuses and rebates? back to top
Common share dividends had to be paid out early due to the conversion, so we calculated what was earned from November to April and simply credited your common share account. Dividends for the period after conversion will be calculated and paid out for the period between April 30th and fiscal year end, October 31st. Patronage bonuses on deposit interest and patronage rebates on loan interest were not affected by the conversion and will be distributed on October 31st along with the second half of your common share dividends.
Were there any changes made to my cards? back to top
You will be able to continue to use the same MemberCard, Credit Union MasterCard®, and/or Global Payment MasterCard® Payment Card as you regularly would. All cards associated with Lakeland Credit Union will continue to operate as usual.
In the past debit card point of sale and ATM withdrawal limits were placed on each account for your protection. So, regardless of how many cards were attached to the account, only $5,000 was allowed for point of sale purchases and $400 for withdrawals each day. With the new system, the limits will be placed on each member. Because numerous members could potentially be on each account, the limit has been lowered for point of sale purchases to $2,500 per member per day. The ATM withdrawal limit has been changed to $400 per member per day.
MemberCard debit card numbers have become the usernames for access to accounts through online banking. See the "
How was internet banking affected?" section.
How was internet banking affected? back to top
In order to offer some improvements to your current self-serve banking options, our online system has been updated from cuanytime.com to MemberDirect®. Other than taking on a new look, almost all our past services and more are available through MemberDirect®.
Internet banking access is only available through our website homepage (www.lakelandcreditunion.com); you can no longer use cuanytime.com. Your debit card number has become your online banking username instead of your account number. This will give you access to all personal accounts linked to your name under one convenient view. Any one of your personal debit cards (attached to any one of your accounts) may be used to login; it will access the same information under your name.
Electronic statements are now available on MemberDirect. Paper statements have been issued since the conversion, and will continue to be delivered until you request the suppression of this mail-out. If you had previously (before our conversion) ended your paper statement, please be assured we will restore your personal settings as soon as possible. See the "What changes have been made to my statements?" section for more information.
Future-dated bill payments (scheduled bill payments) have not been carried over from the conversion. See the "What happened to the scheduled bill payments I had set up online?" section.
Your cuanytime.com bill payment list has been successfully transferred to MemberDirect®, with the exception of Canada Revenue Agency (CRA) bill payees. See the "How do I add Canada Revenue Agency bill payees for online banking purposes?" section.
Transfers to loans (for the purpose of making loan payments through internet banking) are no longer directly available. See the "What are my loan payment options?" section.
What happened to the futuredated bill payments I had set up online? back to top
Scheduled payments set up with online banking were not carried over after the conversion. They simply need to be re-entered by choosing Payments along the top row of options once you have logged into your online banking. Next, you will need to select the
Schedule Recurring Payment tab found directly on the
Pay Bills page.
How do I add Canada Revenue Agency bill payees for online banking purposes? back to top
Canada Revenue Agency bill payee account numbers did not convert, so these will need to be set up as necessary. After logging into your online banking, merely choose Payments from the top row of options and then click on CRA Payments from the column of options that appear on the left side of the screen. Note: there are no provisions to pay provincial corporate bills online, please see us in-branch for this service.
How can I transfer money between my business and personal accounts? back to top
A great tool called hyperWALLET is in the process of being added to your internet banking options. This revolutionary online payment solution will enable you to transact privately and securely online with cash transferred directly from your bank account. This means that transferring money between your business and personal accounts will be just a click away! hyperWALLET is coming soon; more details will follow. Until then, we can offer to set up passwords on your accounts so that you can quickly and securely authorize us to make transfers over the phone. See the second paragraph of "
What are my loan payment options?" for more details on this password option, or give us a call and we'll walk you through the steps.
What are my loan payment options? back to top
There is an easy-print loan payment form that is accessible via an icon on the left side of the screen once you login to your online banking. It is titled 'Loan Payments click here...' and is only viewable from the Account Summary page seen when you first login. To re-navigate to this page from another within your online banking, simply click Accounts along the top row of options, then choose Account Summary from the left column of options that appears. This can then be printed off and either faxed to us, scanned and emailed to admin@lakelandcreditunion.com, or dropped off at reception or with any staff member.
If you would prefer to phone in loan payments, we can easily arrange password authorization for your account. Simply have your government issued ID available and we will be able to add the password to your account. When you call in next time, we will simply ask for your account password in order to complete the loan payment for you. You will need to keep this authorizing password very secure; it needs to be treated as your debit card PIN and be protected at all times!
Remember, you can always request a pre-authorized payment to automatically come out of your account. We can set up when, how much, and how often would be most convenient for you. See the "
Have my automatic payments, direct deposits, and other preauthorized transactions converted smoothly to the new system?" section for the affects of the conversion on existing pre-authorized loan payments. Feel free to contact us directly if you would like to set up an automatic payment or an account password.
Have my automatic payments, direct deposits, and other preauthorized transactions converted smoothly to the new system? back to top
Automatic transfers between accounts that were set up anytime prior to the conversion have successful converted to the new system.
Pre-authorized loan payments have carried over with an exception to customized Line of Credit payments. Our default for Line of Credit payments is to transfer the monthly interest only. If you had set up an increased payment or updated the frequency of your payments, please verify that it the details have been carried over in accordance with the new system. If you find that your payments have returned to default or would like to customize your loan payment, please feel free to contact us directly.
Direct deposits and other automatic credits and debits will operate smoothly with the new system for one year from the date of conversion. At your earliest convenience, you'll need to send updated information to the companies that deposit money into or take payments out of your account. This will need to be done before May, 2011 in order for direct deposits and automatic payments to continue operating.
Are my existing cheques still valid; how do I order new cheques? back to top
Your existing cheques will continue to operate in accordance with our new system for up to one year from the date of conversion. You will have until May, 2011 to use up current cheques and order new ones with your updated account information on them. We can assist you with ordering cheques in-branch, or you can place an order through your online banking. After logging in, just click on My Profile along the top row of options, then choose Order Cheques from the left column of options that appears.
Why won't my memorized accounts save for online banking? back to top
It may be your internet privacy settings. The memorized account option actually saves your card number in your computers 'cookies'. Try opening your internet browser, go to Tools, then Internet Options. Click on the Privacy tab along the top. It should show a sliding bar under the Settings area. The memorized account works when the bar is set at 3 digits high, between "Restricts first-party..." and "Blocks third-party..." Even though your password is always required, we recommend only adding a memorized account to your personal computers.
What does PAC stand for when I login to online banking? back to top
The letters PAC stand for Personal Access Code. Your PAC is a five to eight digit number that gains access to all accounts under the name of the debit card you are using to login with. If you have numerous debit cards, you can use any card number to login to your online banking when you use the same PAC.
Why doesn't my online account activity date back to the beginning of May? back to top
The new internet banking provider was implemented after the conversion cut-off date of May 7th , so your account activity can only be set back to May 8th for online viewing. Any activity that occurred close to the conversion cut-off date will be found on either your April statement (which covers up to May 7th) or your May statement (which covers after May 7th). You will have received these statements by direct mail. If you cannot locate your statements for record of past transactions, feel free to contact us for assistance.
Why has the sequential order of dates changed for my account activity online? back to top
Account activity is automatically listed from most recent to farthest past transaction dates. This can be easily changed to match the format of your statement, which is farthest past to most recent, by clicking on the Date column heading directly on your account activity list online.
What is an 'available balance' on MemberDirect online banking? back to top
The 'available balance' adds the balance of the account with the amount of the account overdraft and then subtracts any holds to show the maximum balance available. The 'available balance' is not shown in the case of a line of credit attached to an account. You may see an 'available balance' when using the ATM; please check the "
What is the 'available balance' shown on my ATM receipt?" section for more information on ATM balances if this affects you.
What is the 'available balance' shown on my ATM receipt? back to top
The ATM may add up more than one of your account balances to give a complete overview of your funds. This overview, called an available balance, will show the total funds available between all of the accounts that are attached to the card minus any holds. For example, your debit card has access to your chequing and savings account. The chequing has a $100 balance and the savings a $400 balance. If you received a printout of the chequing account balance on the ATM, the receipt may say Ledger Balance: $100, Available Balance: $500. If you had made an ATM deposit the night before for $100 and it the hold was still on it, the available balance would show $400. See the "
How long does it take for the hold to released on an ATM deposit?" for more details on holds. In rare occasions, the ATM may read an available balance that includes more than just the accounts your debit card has direct access to. This can only happen on our Lakeland Credit Union ATMS, and it is made available so you can manage all your accounts using just one of your cards. We can easily set your debit card to meet your personal needs; if you would like to customize these settings please call or email us directly.
How long does it take for the hold to be released on an ATM deposit? back to top
The cut-off for holds on ATM deposits is 7:00pm. So if a deposit is made before 7:00pm, the hold will be released at 2:00pm the next business day, but if the deposit is made after 7:00pm, the hold will be released on the second business day. For example, if you made a deposit in the ATM on Friday before 7:00pm, there would be a hold placed on the deposit until 2:00pm on Monday. If you made the deposit on Friday after 7:00pm, the hold would not be released until 2:00pm on Tuesday. If the Monday following a Friday deposit was an official holiday, the hold would not be released until 2:00pm on Tuesday (if the deposit was made before 7:00pm) or 2:00pm on Wednesday (if the deposit was made after 7:00pm).
What are the direct benefits of the new system for me? back to top
Including improved security features to protect your personal information, the new system fully incorporates in-branch, ATM, and internet banking systems to provide a consolidated view of your existing accounts and products. This enables us to offer you better product and service solutions and empower you to reach your financial goals.
Where can I get help with questions or concerns? back to top
General Inquiries: 1-888-896-5717
MemberDirect® Online Banking Support: 1-888-273-3488
Website: lakelandcreditunion.com will be updated as new information comes up.
In-Branch: extra staff will be on hand ready to answer specific questions about the process and its implications.
Email: admin@lakelandcreditunion.com
Phone: Cold Lake Branch 780-594-4011, Bonnyville Branch 780-826-3377
Thank you for joining us on the journey. We have our wings!
