A New Banking System is Coming this Fall

A banking system is the internal software we use to manage your daily transactions. Instead of simply updating our current software we are upgrading to an entirely different system with new and better features. Staff will find the new system easier to use and more efficient. Members will gain access to new and in-demand services while adding additional safeguards to already secure system.

The purpose of the upgrade is to ensure our banking system leverages the latest technologies and accommodates current and future enhancements so we can continue to serve you better. Instead of simply updating our current program we’re upgrading to an entirely new system with better features. 

Later this fall. Interior Savings will be announcing the banking system upgrade date in August.

With this new system, our staff will be equipped to serve you better. We’ll be working on a more advanced system that gives a more detailed profile on your finances; this way we’ll be able to better understand your personal financial needs.

The newer, more robust system will connect Interior Savings with the latest, cutting edge technology and allow our employees to focus their time on you and your financial needs. This will allow us to enhance the way we deliver banking services to you – our members.

No, there won’t be any cost to our members. We’re making this change to ensure we keep pace with technology and bring you the latest banking innovations.

Moving to our new banking system won’t result in any job cuts. It will simply streamline our staff’s work so they can spend more time helping you with your banking needs and less time on back-office processes.

The banking system upgrade will take place mainly behind the scenes, improving our processes and efficiency so we can serve you better. As a result, you won’t see many changes to how you bank with us. But we want to communicate this upgrade ahead of the conversion weekend to ensure you’re aware of what’s happening and how it may impact you.

There will be more information to come as “we move forward”, so please make sure to read our emails and check our support hub often for updates.

• ​​Email: We will be emailing members frequently leading up to the conversion weekend to ensure our members are kept up to date and receive information about the upgrade. Please ensure we have your correct email and contact information so you receive updates. You can update your contact information within Online Banking, by visiting a branch or by calling our Member Service Centre at 1-855-220-2580.
• Local Matters Blogs: We will be publishing monthly articles about the system upgrade and changes coming. Visit our blog site and subscribe to our monthly e-newsletter if you don’t currently receive it.
• Online Banking: We will send secure messages that will let you know of specific impacts you should be aware of to help transition to the new system.
• Website: In addition to sharing highlights of the system upgrade on our website we have also created a support hub that will have more details about the system upgrade.
• In Branch Materials: Branches will display announcements as well as provide printed copies of resources and printouts to help members during the transition.
• E-Statement Inserts: We will create e-statement inserts as or if needed.

Interior Savings will never send you an email or message asking you to verify any personal information including account information. Other items to be aware of:

• Stay Up To Date: Keep your computer’s Operating System and Security Software up to date.
• Be Cautious: If you’re not sure about a website or email, close it or delete it.
• Use Alerts: Set up online or mobile security alerts on your account. Examples include alerts to notify you when your account has been accessed, new payment vendors have been added or a request has been made to reset your password/access code.
• Report it Immediately: If you suspect you’ve fallen victim to a fraud, contact Interior Savings or local authorities to report it.
• Is Your Contact Information Current: Things change – including phone numbers, email and addresses. One additional way you can help to prevent fraud is by ensuring we have your current contact information on file. The next time you’re in your local branch, please confirm that the phone numbers, email and address we have on file for you are correct. You can also update your contact information within Online Banking or by calling our Member Service Centre at 1-855-220-2580.

We’re in the process of putting together communications on what you can expect, so stay tuned. Reading upcoming emails and checking our support hub will ensure you’re as prepared as possible.

Customer service and our members’ financial health has always bee of top importance to Interior Savings. The new banking system will not replace the face-to-face customer service you trust and count on. Moving to our new banking system will simply streamline our staff’s work so they can spend more time helping you with your banking needs and less time on back-office processes.

Yes, all members will be assigned a new member number as part of the banking system conversion. As a result of the upgrade we will shift the focus from you as a number to you as a member.

Following the banking system conversion, we will be organizing your member information in a different way. Moving to a person focused system will provide each member with a unique new member number and eliminate the multiple member numbers that some members have today. With this shift, members will see one consolidated view of all their banking and products. For our staff, we will have a better view which will also allow us to serve you better.

Although you will have a new member number randomly assigned to you, there won’t be any changes to your banking. Our background processes will be able to link your existing account numbers under the old banking system to a new member number in the new banking system. With this work being done securely in the background, you’ll be able to continue with your day to day banking activities you have set up. This means:

• No need to memorize or remember a new member number. When you visit a branch or call our Member Service Centre, our team of experts will be able to assist you with your banking – without the inconvenience of looking up a member number.
• Cheques: you can continue to use your existing cheques as they will continue to be valid.
• Preauthorized Deposits and Withdrawals: preauthorized transactions such as payments and direct deposits will carry over to the new system. This includes bill payments and payroll deposits which will continue unchanged.
• ATM and Debit Cards: all MemberCards will remain active and valid.

For personal members, we’re making changes to two of our “savings accounts”, as well as our chequing package for members under the age of 17:

• TBill Savings Account: will be converting to a new “Investment Savings” account to offer increased interest savings.
• Tax Savings Account: will be converting to a new Plan24 Savings account. Note: this change only refers to a Tax Savings Account that some members have, and this upgrade will not change our Tax Free Savings Account.
• HeadStart Package: will now offer unlimited free transactions to members under the age of 17.

For business members, we will be introducing a new Business Flex Package in place of our Business Packs. This new account has six tiers and will automatically adjust to the correct tier each month based on the number of transactions done. This way you will only pay for what you use.

If you have a line of credit, your line of credit and chequing account may now appear as separate accounts under Account Summary. You will see separate balances and details for each account.

While our passbook printers have been discontinued, there are still plenty of ways you can manage your money with us. This includes using our online banking tool, mobile app, Member Service Centre and over 3,600 ATMs across Canada. Take a look at our ways to bank page to learn more.

Bill payments at the ATM will not be an option after the banking system upgrade. The good news is there are still many convenient ways to pay your bills. These include:

• Online and mobile banking
  
• Teletouch banking
  
• Call our Member Service Centre
  
• By setting up bill payments to be paid automatically from your Interior Savings credit card
  
• By visiting a branch
  

Yes, there will be some minor enhancements to Teletouch Banking with changes to menu options.

Yes, the Personal Financial Management tools in online banking will see some minor changes. 

• Budgeting and Spending categories will need to be set up again after the conversion. 
  
• Transactions prior to the system upgrade won’t be available in the tool and will start fresh on the first day after the upgrade.
  
• The AccountPlus link to your Aviso mutual funds will need to be reset.