Luso Federal Credit Union

At the core of our service to members is a data software system that processes all transactions, maintains confidential member records, credits dividends, generates statements, provides historical account information, and much, much more. On November 1st, we will convert to a new core data processing system that will bring much improved changes and many exciting new opportunities to our service value.

Why are we upgrading our system?
Since 1971, Luso Federal Credit Union has strived toward building strong relationships, integrity, and value for our valued members. We are committed to providing our members with quality products, superior service and continued support. We recognize that it is important to continue to enhance our infrastructure to support our most important assets – our members - and in order to continue to offer our members new and better services, we must upgrade our software.

How will our members benefit from the conversion?
Our members will continue to enjoy their existing relationship with Luso Federal Credit Union with enhanced service that is better tailored to meeting their individual needs. Transactions will be completely streamlined and our member service representatives will have a wider range of product information available to them. Our willingness to satisfy our members, coupled with the new Insight system, will result in highly improved service and even stronger member relationships.

The new Insight system will enable us to provide faster and more efficient service, along with additional security features. A few of the major improvements include:

• The ability to process partial loan payments
• The ability to initiate automatic loan payments for a member specified date
• The ability to set up automatic loan payments with extra payments applied toward principal
• The ability to cross reference member accounts
• The ability to establish direct deposit(s) to multiple accounts
• Enhanced account opening procedures which will result in quicker turnaround time for members
• The ability to make transfers from other financial institutions
• The ability to automate Courtesy Pay to include debit and Online Bill Pay transactions
• Access to Quicken for Business Members

What changes can you expect to see with your existing account numbers?
Please note that existing account numbers will be converted as follows:
(10 digits – BBMMMMMMAA), where:

BB	The last two digits of our new credit union number “73”
MMMMMM	The existing member number, left filled with zeros for those members with a member number less than 6 digits
AA	In some cases left-filled with a zero for those account numbers which are not two digits long

Examples:
• Member Number 12345, Account Number 2 would become 7301234502
• Member Number 689, Account Number 14 would become 7300068914

In the case of share draft accounts, the existing MICR number will be retained as the new account number so as to ensure clearing items are posted without interruption or error.

While any data processing change undoubtedly comes with a few minor inconveniences, we will strive to minimize the impact and keep all our members informed. Our entire Luso team has been working diligently for months in preparation of the system conversion, ensuring the proper testing of all programs and processes, as well as the efficient training of all staff on new system features and procedures. We ensure all our members that the November 1st conversion will run as smoothly as possible.

The branch office of the Credit Union will be closed Saturday, November 1, 2008 due to the conversion process, and will reopen Monday, November 3, 2008. We appreciate your patience and support during our conversion process.