Despite officials saying the process has been an overall success, problems persist for members of Addition Financial Credit Union as it attempts to transfer former Envision Credit Union accounts to its new system.
Envision was acquired by the Lake Mary-based credit union on Oct. 1. The final phase of the merger, spanning Feb. 27 to March 1, consisted of account information being transferred from the legacy credit union’s system to Addition Financial’s banking system.
For Paula Kiger, she could access her personal funds but not her business account she’s had as an Envision member since 2017. That meant she wouldn’t be able to use money paid to her by a client for her freelance work.
“This is problematic for me for the obvious reasons but seems exponentially more pressing for people who are running businesses (payroll, rent, etc.) through an Addition business account,” said Kiger, in an email to the Tallahassee Democrat. “This is beyond poor business practices and puts people and their businesses at jeopardy.”
Kiger isn’t alone. The Democrat was contacted by numerous members who were frustrated by the system conversion. Some said they never received the debit card that they needed to access their accounts. Others took to social media and blasted the credit union after waiting hours for assistance at a branch or on the customer service line.
Yet, the credit union has opened approximately 130 new accounts and had only one account closure during the merger’s final phase, Addition Financial President and CEO Kevin Miller said.
In an interview with the Democrat, Miller acknowledged challenges and sought to offer an explanation behind them, He also shared overall insights about the merger and what he said is Addition’s dedication to serving its members with excellent customer service.
Here’s what Miller had to say:
Addition president explains process for system conversion
Miller said a system conversion is when two completely different computer systems are combined. In this case all data is being merged from the legacy credit union to Addition’s system.
He said this will allow Addition to have access to the same information to support members, adding “all of that went smoothly” and “it was a successful transition.”
“Everybody was able to transition from the Envision system to the Addition (system). All of their accounts were where they were supposed to be,” Miller said. “We’re working with a small portion of the members who need assistance from the transition … we definitely acknowledge that there are people who are having challenges.”
What is Addition doing for members with business accounts?
When Kiger visited an Addition branch, she was told business accounts were “not working.” The employee told her they did not have a timeframe for when the issue will be fixed, but they put he on a “list” for follow up. Hours later, a fellow customer created a video to show her and others how to access their accounts.
Miller, the CEO, said the credit union’s Business Services Group is actively contacting all members with business accounts that were formerly with Envision, which is about 2,000 account holders.
The goal is to make sure they’re able to navigate Addition’s system. Miller said the group is working with every member that has an existing loan and next comes all members who make deposits to the credit union.
“It won’t be long before they’ve spoken to each and every business account,” Miller said. “We’re getting a lot of positive feedback from this, including several business members that we’ve reached out to have asked us to expand the relationship with us.”
What happened to some automatic payments not being made?
Miller said automatic payments rolled through the system “without fail” and said there were no issues, despite some members saying their payments weren’t made.
He said members were told that automatic payments would be cut off over the weekend during the actual merger and payments would be processed after the system merger was complete.
“We didn’t have any issues,” he said. “We did have some members who set up payments on their debit card. That was intentionally shut down over the weekend but that all rolled through starting March 1.”
Missing debit cards and long lines at local Addition Financial Credit Union branches
At times, lines into some local Addition branches stretched outside the door and members reported being in line for one to two hours.
The biggest issue that remains is tied to debit cards, Miller said, who said the credit union mailed new cards to all members. Or members needed assistance setting up pin numbers for their debit cards.
However, two issues arose: Members either didn’t recognize the nondescript mail containing the card or the cards were sent later than expected.
Miller said the cards were sent in batches, and the last batch was mailed on Feb. 18. The company that produces the debit cards is based in Boston, which was impacted by a recent snow storm that dumped about 17 inches of snow from Feb. 22 to 24.
“The last batch arrived on Friday, Saturday and Monday,” Miller said. “Everything works, but they didn’t get the debit card because they didn’t realize it was a debit card. Or, it came a little bit later than we were hoping if you were in that last batch.”
As a result, all local branches have instant debit card machines and they allow cards to be printed on the spot.
In a letter to customers, Miller wrote “our commitment is to ensure every member feels supported, heard, and confident in their financial partnership with Addition Financial. We will continue working as quickly and thoughtfully as possible to make this transition as smooth as possible for everyone.”
Contact Economic Development Reporter TaMaryn Waters at tlwaters@tallahassee.com and follow @TaMarynWaters on X.
This article originally appeared on Tallahassee Democrat: As customers struggle, Addition Credit Union CEO addresses ‘challenges’
Reporting by TaMaryn Waters, Tallahassee Democrat / Tallahassee Democrat
USA TODAY Network via Reuters Connect
