Business System Upgrade Overview

 

Changes today to shape our tomorrow

At Purdue Federal, your financial wellbeing is our top priority. In order to help you achieve your financial goals, we strive to offer the best possible products and services. Because of our focus on you—our member-owner—our credit union continues to experience exceptional growth in our markets and offerings. As we look to our future, it is essential that we have the proper tools available to shape our tomorrow. To help us do that, Purdue Federal will soon undergo an important system upgrade.

 Read the letter from our CEO Bob Falk

 Download our Business System Upgrade Information Booklet

 Learn what changes are coming to Consumer members

 Download our printable System Upgrade info booklet

 


 

What You Should Expect During the Upgrade Period

 

 What to Expect

During the upgrade period, your banking experience will be similar to how it is today, but there are a few things that may affect you.

Your debit and credit card(s) will work during the upgrade, but you will NOT be able to visit any branch or use digital banking beginning at 7 p.m. EDT on Friday, March 31. We expect branches and digital banking to be available again on Tuesday, April 4. During the downtime, we encourage you to manually track your spending.

 

 Upgrade Period Service Availability

 

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*Our Contact Center will be available to speak with you, but due to the system upgrade, we will be unable to conduct transactions, provide you with account specifics, or perform maintenance or changes on your account. Normal transaction processing expected to return Tuesday, April 4.
**ATMs will not accept check deposits into personal accounts beginning at 3 p.m. EDT, Friday, March 31 through Monday, April 3.

 

 Treasury Management Service Availability

  Friday, March 31
Remote Deposit Capture (RDC) Available until 1 p.m. EDT
ACH Origination Available until 2 p.m. EDT
Wire Transfers Available until 3 p.m. EDT
Mobile Remote Deposit Capture (mRDC) Available until 3 p.m. EDT

These services will return to normal functionality beginning Tuesday, April 4.

 

Add to your calendar

Google Calendar | Microsoft Outlook | Office 365 | Yahoo! Calendar

 

 

Important Things to Know

You can call our Contact Center at 800.627.3328 or 765.497.3328. We appreciate your understanding as we are happy to answer your questions, but we will not be able to provide you with account balances or perform any transactions during the upgrade period.

See Contact Center availability

Your debit and credit card(s) will continue to work normally for in-person and online purchases, and to withdraw money from your checking and/or savings accounts at ATMs. However, you will not be able to see your updated account balance(s) at ATMs or through digital banking.

  • Recurring internal transfers; external transfers set up through Purdue Federal or another financial institution; and Purdue Federal loan and credit card payments previously scheduled to happen during the upgrade period will not process until Tuesday, April 4. You can reschedule any needed transfers – external transfers and internal transfers between Purdue Federal accounts – to occur by 3 p.m. EDT, Friday, March 31.
  • Complete one-time transfers and Pay a Member payments before 3 p.m. EDT, Friday, March 31.
  • We recommend that you review scheduled internal and external transfers following the system upgrade period. Transfers may need to be set up again after the upgrade to avoid any scheduled transfer interruptions.

You will not receive account alerts after 7 p.m. EDT, Friday, March 31. We expect alerts to resume the morning of Tuesday, April 4. You will continue to receive fraud text alerts via text message. After the system upgrade, all alerts will continue as normal.

  • One-time online bill pay will not be available during the upgrade period.
  • Previously scheduled payments to occur Saturday, April 1 through Monday, April 3, will not process until after the upgrade period is complete on Tuesday, April 4. You can reschedule any needed payments to occur earlier—before 3 p.m. EDT on Friday, March 31.
  • We recommend that you review scheduled payments following the upgrade period to ensure payee details are correct.

During the system upgrade period, Purdue Federal may contact you if we need to share information; however, we will not ask you for any personal information. Unfortunately, people may try to take advantage of our system upgrade. If anyone contacts you claiming to be from the credit union and asks you to provide personal information, you should not provide it. If you have a concern about any communication you receive from Purdue Federal, contact us immediately at 800.627.3328 or [email protected].

Please remember, Purdue Federal will never contact you by phone, email or text, and ask you to provide your personal information including account number, Social Security number, debit or credit card number, PIN, one-time passcode or digital banking login information.

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How You Should Prepare for the Upgrade Period

Please review the contact information we have on file for you so you don’t miss any important notices about the upgrade. Call 800.627.3328, stop by your favorite branch, or log in to digital banking (under Profile – Change Address/Phone/Email). If you use your cell phone as your home phone then we suggest listing your cell phone number in both fields.

  • Branches will be open normal hours on Friday, March 31; closed Saturday, April 1 and Monday, April 3; and will open as usual on Tuesday, April 4. Digital banking will be unavailable from 7 p.m. EDT, Friday, March 31 through Monday, April 3.
  • If you have payments or transfers scheduled to process from March 31 – April 3, we recommend rescheduling these to occur before the system upgrade to eliminate any issues or concerns. If action is not taken, these transfers and payments will process as scheduled when the system comes back up on Tuesday, April 4.

Add to your calendar

Google Calendar | Microsoft Outlook | Office 365 | Yahoo! Calendar

  • One-time Online Bill Pay Payments and External Funds Transfers scheduled after 3 p.m. EDT, Friday, March 31, will not process until the morning of Tuesday, April 4.
  • Recurring payments and transfers previously scheduled to happen during the upgrade period will not process until Tuesday, April 4. You can reschedule any needed transfers – external transfers and internal transfers between Purdue Federal accounts – to occur by 3 p.m. EDT, Friday, March 31.

Download tax documents from digital banking before 7 p.m. EDT, Friday, March 31, if you will need them during the system upgrade period.

Give your accounts nicknames so you can easily identify them after the system upgrade. Keep in mind that digital banking does not accept special characters for account nicknames.

  • Remote Deposit Capture—Available until 1 p.m. EDT, Friday, March 31.
  • ACH Origination—Available until 2 p.m. EDT, Friday, March 31.
  • Wire Transfers—Available until 3 p.m. EDT, Friday, March 31.
  • Mobile Remote Deposit Capture—Available until 3 p.m., Friday, March 31.
  • Review your accounts to make sure the right people in your business have the right permissions, access and roles. For Example: Do you have old employees or owners still on your account? Do you have board members listed on your account who no longer serve on your organization’s board?
  • If you would like to change or update an authorized signer on your account, please stop by your favorite branch, or call us at 800.627.3328 or 765.497.3328, before Friday, March 31.

After the system upgrade, you should not see drastic changes in the way your business accounts are displayed in digital banking; however, there are two very important actions we recommend you take time to ensure your accounts are distinguishable and the proper authorized individuals have the permissions and access needed in digital banking.

Make sure your accounts are distinguishable by giving them nicknames.

Example: ABC Company, Inc. has 3 credit cards with $2,500 credit limits, 2 commercial checking accounts, 2 secured commercial loans and 1 secured line of credit.

Below is an illustration of what digital banking will display for ABC Company, Inc. with and without account nicknames.

Microsite-Booklet-Illustrations4.jpg

Adding account nicknames is easy:

  1. Log in to digital banking.
  2. Click the account name you want to change.
  3. Click “Show Account Details”.
  4. Click “Edit” under the account name.
  5. Type a nickname then click “Apply”.

 

Ensure the right authorized users have the permissions and access they need in digital banking.

If you have multiple users logging in to digital banking to view, transact, etc., on your accounts, we recommend that you log in after the upgrade period to ensure you and your secondary users (also known as entitled users) have the appropriate account access and permissions for their roles.

Some enhancements the system upgrade provides for you and your secondary users include:

  • All accounts shown under one membership.
  • No limit on the number of credit cards or accounts under one membership.

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What You Should Expect After the System Upgrade

What will stay the same

Many things you use on a daily basis will be unchanged following the upgrade period. You’ll be happy to know the below items will remain the same:

  • Purdue Federal’s routing number—274976067
  • PINs for debit cards, credit cards and Bank-by-Phone
  • Debit and credit cards will not be reissued; card numbers remain the same
  • Digital banking usernames and passwords
  • Account nicknames in digital banking
  • Direct deposits, government-issued benefits, automatic payments (ACH) and scheduled transfers
  • Scheduled payments, external transfers or payments from other financial institutions to Purdue Federal loans or credit cards
  • Checks—you do not need to order new checks because the 14-digit Magnetic Ink Character Recognition (MICR) number on your current Purdue Federal-issued checks, which allows your checks to be read by computers, will be your new checking account number; you can check your 14-digit number in digital banking under Accounts – Account and Routing Numbers. Note: if you order checks through a 3rd party, please ensure you’re using the correct checking account number at the bottom of your checks.

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What will change

When our services return to normal availability following the system upgrade, you will see some changes including your member ownership and account numbers.

After the system upgrade, you must use a deposit slip when you make a deposit at a branch. Deposit slips help ensure your deposit is credited to the correct account. You can request deposit slips at any branch.

Account Numbers While your account numbers will look a little different, you won’t have to do anything to your accounts and everything will function as it does today. After the upgrade:

  • Savings account numbers will be your current account number merged with your savings suffix.
  • Checking account numbers will convert to be the 14-digit MICR account numbers shown at the bottom of Purdue Federal-issued checks. See page 10 for more information about your MICR account number.
  • Credit card account numbers will be your current account number merged with your credit card suffix. Your 16-digit credit card number that appears on your card will remain unchanged so you will not receive a new physical card.

We encourage you to log in to digital banking to view all your account numbers; go to Accounts - Account and Routing Numbers. Please see below for a common scenario for account number changes.

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You will see a $5 Member Ownership in digital banking. This shows you and/or your business is a memberowner of our nonprofit cooperative. Previously, your $5 was held in your Primary Share Savings Account as a balance unavailable for withdrawal. In our upgraded system, you will see your Member Ownership listed and held in a separate account. Please note: You will not be able to transact on this new account; it simply holds your $5 ownership in the credit union.

After the system upgrade, your monthly account statements will be organized differently than they are today. Starting with your April account statement (to be received in May), your account statements will be grouped by ownership type and Tax Identification Number.

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With our system upgrade, we are excited to offer new checking accounts for our business members.

Business-Checking-Chart-1.jpg

*ACH origination services are for ACH payroll payments to employees.

View enlarged version of this chart

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FAQ

General Questions

We are upgrading our core system in order to meet our members’ needs quickly and proactively with new products and services.

Our system upgrade will happen over a few days—from 7 p.m. Eastern Daylight Time on Friday, March 31 through Monday, April 3, 2023.
 

While your account numbers will look a little different, you won’t have to do anything to your accounts and everything will function as it does today. After the upgrade:

  • Savings account numbers will be your current account number merged with your savings suffix.
  • Checking account numbers will convert to be the 14-digit MICR account numbers shown at the bottom of your Purdue Federal-issued checks.
  • Credit card account numbers will be your current account number merged with your credit card suffix. Your 16-digit credit card number that appears on your card will remain unchanged so you will not receive a new physical card.

We encourage you to log in to digital banking to view all your account numbers; go to Accounts – Account and Routing Numbers.
 
Please see below for a common scenario for account number changes:

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Beginning with April statements that mail in May, our system will generate monthly statements according to the primary accountholder’s  Tax ID number. In order for a joint accountholder to see a statement, they would need to request a statement copy from us or the primary accountholder. Our system will also create a separate statement showing credit card transactions.

Purdue Federal’s routing number will remain the same—274976067.

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*Our Contact Center will be available to speak with you, but due to the system upgrade, we will be unable to conduct transactions, provide you with account specifics, or perform maintenance or changes on your account. Normal transaction processing expected to return Tuesday, April 4.
**ATMs will not accept check deposits beginning at 3 p.m. EDT, Friday, March 31 through Monday, April 3.

During the upgrade period, you can still:

  • Use your debit and credit card to make online and in-person purchases.
  • Make withdrawals at an ATM.

We recommend you do the following to prepare for the upgrade period:

  • Mark your calendar for 7 p.m. EDT Friday, March 31 through Monday, April 3, 2023.
  • Review the contact information we have on file for you with a Purdue Federal representative or in digital banking under Profile – Change Address/Phone/Email. If you use your cell phone as your home phone then we suggest that you list your cell phone number as both your home phone and your cell phone.
  • Check your account statement to see who is a joint accountholder. Make any needed changes before 5 p.m. EDT on Friday, March 31. Please note that if there is more than one joint accountholder on your account, you will only be able to see the first one listed on the account.
  • Download your tax documents before 7 p.m. EDT on Friday, March 31, if you will need them during the upgrade period.
  • Schedule internal or external transfers and online bill payments to occur before 3 p.m. EDT on Friday, March 31.
  • Make sure you have enough money in the right accounts to cover any spending during the upgrade period. Manually track your purchases until they post in digital banking on Tuesday, April 4.
  • Give your accounts nicknames so you can easily identify them after the system upgrade. Keep in mind that digital banking does not accept special characters for account nicknames.
  • Use Treasury Management Services before they are cut-off on March 31:
    • Remote Deposit Capture—Available until 1 p.m. EDT
    • ACH Origination—Available until 2 p.m. EDT
    • Wire Transfers—Available until 3 p.m. EDT
    • Mobile Remote Deposit Capture—Available until 3 p.m. EDT

Business Banking Questions

  Friday, March 31
Remote Deposit Capture (RDC) Available until 1 p.m. EDT
ACH Origination Available until 2 p.m. EDT
Wire Transfers Available until 3 p.m. EDT
Mobile Remote Deposit Capture (mRDC) Available until 3 p.m. EDT

After the system upgrade, your monthly account statements will be organized differently than they
are today. Starting with your April account statement (to be received in May), your account statements will be grouped by ownership type and Tax Identification Number.

Microsite-Booklet-Illustrations6.jpg

After the system upgrade, you must use a deposit slip when you make a deposit at a branch. Deposit
slips help ensure your deposit is credited to the correct account. You can also request blank deposit  
slips at any branch.

Account Numbers While your account numbers will look a little different, you won’t have to do anything to your accounts and everything will function as it does today. After the upgrade:

  • Savings account numbers will be your current account number merged with your savings suffix.
  • Checking account numbers will convert to be the 14-digit MICR account numbers shown at the bottom of Purdue Federal-issued checks. See page 10 for more information about your MICR account number.
  • Credit card account numbers will be your current account number merged with your credit card suffix. Your 16-digit credit card number that appears on your card will remain unchanged so you will not receive a new physical card.

We encourage you to log in to digital banking to view all your account numbers; go to Accounts - Account and Routing Numbers. Please see below for a common scenario for account number changes.

Microsite-Booklet-Illustrations5-1.jpg

Your business credit card has two numbers—an account number and a card number. Credit card account numbers will be your current account number merged with your credit card suffix. Your 16-digit credit card number that appears on your card will remain unchanged so you will not receive a new physical card.

With our system upgrade, we are excited to offer new checking accounts for our business members.

Business-Checking-Chart-1.jpg

*ACH origination services are for ACH payroll payments to employees.

View enlarged version of this chart

The system upgrade provides some digital banking enhancements for you and your secondary users including showing all accounts under one membership and no limit on the number of credit cards under one membership.
 
If you have multiple users logging in to digital banking to view, transact, etc., on your accounts, we recommend that you log in after the upgrade period to ensure you and your secondary users (also known as entitled users) have the appropriate account access and permissions for their roles.

Your business digital banking username and password will not change.

After the system upgrade, you should not see drastic changes in the way your business accounts are displayed; however, you should make sure your accounts are distinguishable by giving them nicknames.

Example: ABC Company, Inc. has 3 credit cards with $2,500 credit limits, 2 commercial checking accounts, 2 secured commercial loans and 1 secured line of credit.

Below is an illustration of what digital banking will display for ABC Company, Inc. with and without account nicknames.

Microsite-Booklet-Illustrations4.jpg

Make sure your accounts are distinguisable by giving them nicknames

Example: ABC Company, Inc. has 3 credit cards with $2,500 credit limits, 2 commercial checking accounts, 2 secured commercial loans and 1 secured line of credit.

Below is an illustration of what digital banking will display for ABC Company, Inc. with and without account nicknames.

Microsite-Booklet-Illustrations4.jpg

Adding account nicknames in digital banking is easy.

  1. Log in to digital banking.
  2. Click the account name you want to change.
  3. Click “Show Account Details”.
  4. Click “Edit” under the account name.
  5. Type a nickname then click “Apply”.

Our business services department has reviewed your account history for the past 18 months and has determined which account product is most advantageous to your business.

We are happy to answer questions in more depth. If you would like for a relationship manager to reach out, please just let us know:

  • Member Account
  • Contact
  • Best method for contact
  • Best time to contact

Certain types of Business Checking accounts, including Commercial Checking and Non-Profit Checking, will be equipped with Account Analysis. Such accounts are eligible for an earnings credit to offset eligible fees charged by the Credit Union (“Earnings Credits”). Unlike dividends, Earnings Credits are not paid to you directly.

Using Account Analysis, we perform a detailed accounting of your Earnings Credits and eligible fees. If your Earnings Credits are greater than the total eligible fees and expenses for a given statement period, the eligible fees are offset by the Earnings Credits for that period.The remaining Earnings Credits are forfeit and are not carried forward to the following statement period.

If your fees and expenses exceed the amount of Earnings Credits for a given statement period, we will debit your account for the difference. The Earnings Credits do not constitute cash and may only offset accrued fees. Account fees that can be offset by the Earnings Credits are generally direct fees charged by Purdue Federal related to account activity or transactional items, account maintenance fees, and treasury management products, including but not limited to wires, ACH, remote deposit capture, and sweep/zero balance accounts.

Please contact Member Business Services for more information about eligible fees. Any account fees charged will be automatically debited on the fifteenth (15th) of each month.  The Account Analysis will be provided upon request. Please contact Member Business Services for current Earnings Credit rate information. 

It is because you are currently not in a non-profit checking account. If you are a non-profit and want to move to a Non-Profit Checking, we can review the corporate documentation on file and let you know what if any additional information we might need to change over your account.

Option 1

Purdue Federal evaluates your account activity and lets you know what your situation would look like.

Option 2

Purdue Federal moves you over to the Small Business Checking if it is a better fit for your quest to not pay any fees.

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We appreciate your patience as we undergo this crucial system upgrade! Thank you for your membership.

 

Please visit this page again for the most up-to-date information. If you have questions, please stop by your favorite branch, or call us at 800.627.3328 or 765.497.3328.