Loan System Update

Coming Soon! System Upgrades for a Better Experience

    Note: This page has been updated as of May 25, 2023. Check back regularly for more information.
     

    Keeping the Association’s technology current plays a key role in our ability to provide exceptional service and ensure maximum information security. As part of those ongoing efforts, we are preparing for a District-wide loan system update that will deliver many benefits and help us better serve you.

    The transition is scheduled for July 14-16 and, once complete, members will enjoy:

    • Extended daily deadlines for making payments or transferring cash from lines of credit via digital banking
    • Enhanced security to protect personal information
    • Consolidated monthly statements for those with multiple accounts, where applicable
    • Improved efficiency when accessing account information through our Customer Care team
      ...and more!

    This system update is a part of a broader upgrade project for all Farm Credit Associations in the AgFirst District, designed to enhance our systems and optimize your experience as a member.

    While the conversion won’t happen until July, some may wish to plan ahead for the anticipated changes.

    Please see the frequently asked questions below to learn how this change will affect you.

     Frequently Asked Questions

    How will I be impacted?

    You’ll notice changes to your account and loan numbers listed on billing statements beginning in August. All other aspects of your account will remain unchanged. There will be a planned office closure to allow for the system transition to take place, and you may see some interruption of service in our Digital Banking platform during the conversion.

    Why are my account and loan numbers changing and how?

    The new loan system will create many efficiencies and bring numerous improvements, however, the updated software requires a different format for loan numbers than we’ve used in the past. You won’t be receiving a new loan number – the current one will be modified to remove some non-numeric characters and leading zeros. Your account number is based on your loan number and will be modified  to reflect the newly modified loan number, as part of the system conversion. You may notice these modifications beginning July 17. All other aspects of your account will remain unchanged.

    What do I need to do to prepare for my account and loan number changing?

    This change does not require any action on your part unless you use third party bill pay services. To avoid any bill pay disruptions, you’ll need to update your commercial bank with your modified account number. Members will receive further communication to assist in locating and confirming their modified account number(s).

    When will I see these modified numbers reflected on my billing statements?

    Your modified loan and account number will appear on your August billing statement and all statements thereafter.

    Will there be any disruptions to Digital Banking?

    Online access to your account through Digital Banking and our mobile app may be limited the weekend of July 14-16 as we complete the upgrade. We expect full access to your account to be restored the week of July 17.

    Will there be a change in normal business hours?

    Offices will be closed to members on July 14. Payments can and should be made on time, in the office prior to July 14 or you can continue to make payments via mail or our Digital Banking platform (as availability allows – see above question on Digital Banking disruptions). If your payment is late, you will not see late charges on your account until July 18.

    I have a loan that is in progress. How will this affect my loan closing?

    If your loan closing is scheduled for the week of July 10, you may see a delay in the processing of your loan. Loan closings are expected to resume on July 18, pending a successful implementation of the system.

    Will there be a grace period for late fees?

    Offices will be closed to members on July 14. Payments can be made in the office prior to July 14 or you can continue to make payments via mail or our Digital Banking platform (as availability allows – see above question on Digital Banking disruptions). If your payment is late, you will not see late charges on your account until July 18.

    If you are unable to update your account number prior to your payment posting, our customer service team will ensure that your payment is posted as intended and you will not incur a late fee for this reason, unless the payment is made after July 17. AutoDraft payments scheduled for July 15will draft on July 17.