ALBANY, N.Y.–Glitches experienced by members when a credit union here went through a systems conversion led a local bank to run an ad urging members to move their business.
SEFCU closed its branches over a recent weekend and through noon on the following Monday as part of the system conversion, but on Monday some members were complaining in social media they were encountering problems, according to the Albany Times Union.
That led to a newspaper ad reading, “All SEFCU members that open a Home Town Checking Account at Trustco Bank on Saturday, April 13th will get $100!"
According to the Times Union, SEFCU's system upgrade began at 6 p.m. on Friday and was completed at noon on Monday, after being originally planned for February but then pushed back.
Although members were still able to withdraw money from ATMs and use their credit and debit cards, branches and online banking were closed during the upgrade process.
Dismay Expressed
“But right after SEFCU announced on its Facebook page just after noon that the system upgrade was complete, customers began to complain they couldn't access their accounts online or through the SEFCU app,” the Times Union reported. “Many expressed dismay because it was tax day, when state and federal tax returns are due.”
SEFCU said on its Twitter account the issues were related to the massive volume of members going to the site.
"Due to the high number of members accessing accounts we are experiencing intermittent delays in accessing accounts. We are working to resolve this as fast as possible and apologize for any inconvenience," SEFCU tweeted just before 1 p.m.
What Bank Says
Robert Leonard, executive vice president at Trustco Bank, told the Times Union the ad that ran was effective and was targeted specifically for SEFCU's system upgrade.
"We had a lot of (SEFCU members) that came over," Leonard said without mentioning specific numbers.
Trustco also ran another ad in the Times Union on Monday that pointed out that credit unions in general do not pay federal income taxes.
"While credit unions are laughing at us for paying our share of taxes, some are even asking for your money, so they can donate it and take all the recognition," the ad states. "We just thought you should know."
Leonard told the Times Union the ad prompted a lot of potential business as well, especially since it was targeted to run on Tax Day. Leonard said that the ad strikes a chord with the public.
"It's a shame, but that's the way the laws are written," Leonard was quoted as saying. "We just wanted to put some light on the issue."