Changes to the way we do our Banking

We will be doing things differently from 2nd September 2018

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NZCU Steelsands is proud to annouce...

Your new modernised banking system is here. Live from 3rd September 2018!!

With this change we are making improvements, designed to benefit you.

It is important that you read this information so you are up to date with the changes to your account.

If you have any questions please contact your closest branch.

FAQs - System upgrade and outage

The previous system we operated with was over 30 years old! We are now operating (behind the scenes) with one of the best international systems. It will allow us to improve a lot of our processes and enable us to review and improve our products and services in the future. We will have the ability to improve and expand, ultimately benefiting you, the member.

The new system has been up and running since 3rd September 2018.

Absolutely! The security and privacy of your information is our priority, and our new core banking system will provide additional features to protect you further.

FAQs - Account information

If you are currently selecting ‘SAV’ when using your AccessCard or AccessDebit card, you will now need to select 'CHQ'.

If you currently have multiple member numbers, after we go-live we can merge these into one customer number that all your accounts are linked to.

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Yes, once the new system is live, you can quote your original member number and we will be able to access your accounts with this number.

No. Internet banking has not changed.

From 3 September 2018 the cut-off time for payments to external accounts will be 6.45pm. 

If you transfer funds up to 6.45pm on a weekday, the funds will be available the next day.

If you transfer funds at 7pm on a Weekday, the funds will be effective in the next business day transactions - therefore there will be an extra days delay in the funds reaching your external account.

Any money that is over and above the documented repayment amount of your loan will remain in your Loan Provider account, it will not be paid onto your loan.

However, we will be able to increase the regular repayment amount - Contact us if you wish to arrange.

Alternatively, we can make extra bulk repayments to the loan for you.  

When we go live the re-draw facility on your personal loan will no longer be available.

Once the funds have been applied to your loan you are unable to redraw them again without going through the normal process of applying for a loan top-up.

Any additional funds that you are putting into your Loan Provider Account, providing they are not for future Loan Repayments or Security for the loan, you will be able to withdrawal.

Please contact your Branch if you wish to withdrawal from the Loan Provider Account.

LoanMinder Premiums for the Life Cover on Loans has previously been rebated.  From the 3 September 2018 the life cover premium will no longer be rebated.
You will not need to pay for this separately, as the premium is already included in your loan repayments.

FAQs - Fees

Yes, some transaction fees will now charge at the time you transact on your account (like banks), rather than one lump sum at the end of the month.
e.g. Eftpos and ATM charges will be charged when you make the purchase or withdrawal funds from an ATM.

We will be reviewing all our fees and ways we assist our members.  Setting you up for Internet &/or Mobile Banking will enable you to take control of your accounts and make general electronic transactions yourself.  All electronic transactions will be free.


Yes. Eftpos and ATM charges will be deducted at the time you make a purchase or withdrawal from the ATM