NZCU Central proud to welcome new banking system

Our upgrade will deliver long-term benefits to our members.

NZCU Central is proud to announce the arrival of your new banking system

After 30 years of our Credit Union using the existing outdated Dos based core banking system, the time to modernise has arrived.

A little over three years ago, most of the Co-Op member Credit Unions decided on a new core banking system developed by Oracle and known as Flexcube. This system is modern in every sense of the word, it allows integrated products to be developed and added over time.

These improved products would include more advanced Internet and mobile banking options allowing our members to do even more from an internet banking platform. It also allows Credit Unions the opportunity to better serve our members by introducing enhanced and improved fee structures such as real time fees instead of weekly fees.

This allows more transparency in fees being levied and enables our members to better manage their costs.

Whilst we have spent a great deal of time and effort in testing the new functionality and ensuring our transition is as smooth as possible, the upgrade does of course carry with it several challenges and risks not least of which is training our staff to serve our members using a completely new system.

This may well impact our delivery times initially and may cause frustration to our members. We can only ask our members to be patient with us as we all get to grips with our modernized core system.

The upgrade has been necessary if we are to keep up with developments within the Credit Union Industry and whilst we may face delays now, the long term benefits to our members will be marked.

There will be new processes we all need to get used to going forward but we have tried to minimize these for our members and believe very little change will be apparent from a members perspective.

Arguably the most obvious but probably one of the most important changes for our members to embrace is the use of the CHQ button rather than the SAV button on ATM`s and EFTPOS machines in future. I know it sounds like an insignificant change but when you are used to hitting the SAV button for the past 30 years, changing to the CHQ button is not always easy to remember.

NZCU Central is the 6th Credit Union to go through the transition with NZCU Baywide, NZCU Steelsands and NZCU South having transitioned earlier in the year. All reports so far indicate the new system is a huge improvement on our old Dos based system and we expect the same will apply to NZCU Central as we get to grips with better serving our members through the implementation of far more advanced technology. If you have any questions about the system or if you experience any problems with the implementation please feel free to call us on 07 349 6134.

Remember to regularly visit our website on www.nzcucentral.nz or our facebook page.

NZCU Central is proud to be a credit union and not a registered bank.