Welcome to the first issue of Integration News, Western Federal Credit Union's (Western) monthly newsletter created specifically for Toyota Federal Credit Union (TFCU) members. This newsletter will be published monthly and included in your monthly statement (starting with December) and will provide updates on the integration between Western and TFCU. The newsletter's content is important, and we encourage you to read each month's issue to keep up to date on our intergration progress.
Name and Logo
To satisfy regulatory guidelines, as well as to use existing materials, the TFCU name and logo will continue to be used for a period of time. During this transition period, which is anticipated to be completed by mid-year 2008, you will receive materials with both the Western and TFCU name and logo.
Computer System, Online Banking and Bill Pay
TFCU and Western are currently on different member data operating computer systems, as well as Online Banking and Bill Pay systems. To resolve this, Western will be converting to the system currently used by TFCU over the next six months. After Western has completed the conversion, TFCU members' information will be combined into Western’s database. It is anticipated that this process will be completed by September 2008.
In the meantime, it is anticipated that TFCU members will experience no system changes and may continue to perform Online Banking and Bill Pay transactions as they have been.
Expanded Branch Access
Although Western and TFCU are not on the same member data operating systems, Western will be installing TFCU terminals in select Western branches, as well as in the Call Center. At these locations, Western team members will be able to access your TFCU accounts and perform transactions beyond those that can be performed at Credit Union Service Center locations. The following are Western locations that will have TFCU terminals by January 1, 2008:
- Torrance, California
1899 Western Way
(Drive-Up Teller and ATM also available at this location) - Hawthorne, California
14500 Aviation Boulevard
(Open Saturdays) - Irvine, California
4520 Barranca Parkway
(Open Saturdays)
When visiting one of these locations, be sure to let the Western team member know that you are a TFCU member wishing to perform a transaction on your TFCU account and you will be directed to the appropriate person.
Existing TFCU Branch Locations
As communicated previously, all of TFCU current branch locations will remain open, plus Western is working with Toyota officials in Ann Arbor, Michigan and Tupelo, Mississippi to open onsite branch locations in these facilities. Be sure to check future issues of this newsletter for new branch openings.
Existing TFCU ATM, Debit and Credit Cards and Checks
Continue to use your existing TFCU plastic cards and checks. Western is working closely with Toyota officials to determine if the images used on the plastic cards can be used post-merger.
Rate and Product Alignment
Western and TFCU have already begun to align many of the rates and products offered by each organization. Because complete rate and product parity will take place in phases, particularly as system conversions are completed, if there is a Western product not currently offered by TFCU that you would like to open, please contact a Western team member who will be happy to assist you.
TFCU Website
As Western works to integrate the two organizations, Western will continue to maintain and update the TFCU website.
Special Integration Promotions
To thank TFCU members for their support and patience these past few months, Western is currently offering the following product promotions:
- TFCU members can let their money grow in the exclusively offered 9-month Bonus Share Certificate with a highly competitive rate of 5.18% APY*, and the low minimum balance of $1,000.
- Need a little assistance during the holidays? We are offering a Holiday Loan to TFCU members for up to $5,000 with a rate as low as 7.49% APR**. Plus you can defer payments until March 2008†!
Email Us Directly
We hope you have enjoyed the first issue of Integration News. If you have any questions regarding this issue or the integration, please feel free to send an email to IntegrationNews@Western.org. We may not have immediate answers to every question since many details are still being worked on, however we will respond to every email and work hard to get you those answers.
*Rate effective as of November 12, 2007 and is subject to change without notice during the promotional period. The Annual Percentage Yield (APY) quoted assumes dividends remain in the account until maturity. Withdrawals will be subject to penalty. Offer expires January 31, 2008. Upon maturity, the certificate will be rolled into a 12-month certificate at the then-current rate.
** Interest will accrue from the date of funding. Minimum loan amount is $500. No payments until March 2008. Refinancing existing Toyota FCU loans not available with this offer. Offer expires February 29, 2008. APR = Annual Percentage Rate. Rates quoted are the lowest rates possible for qualified borrowers and include a .25% discount for Automatic Payment. Your rate may vary. Qualification is based on credit history, debt, and the ability to repay. Rate is subject to change. Toyota FCU is an equal opportunity lender.
† Interest will accrue from the date of funding. Minimum loan amount is $500. No payments until March 2008. Refinancing of existing Western loans is not available with this offer. Western is an equal opportunity lender. Offer expires February 29, 2008.
