Jefferson Financial working through issues in transition

Published 8:10 pm Saturday, April 21, 2018

The transition from Riverdale Credit Union to Jefferson Financial Federal Credit Union hasn’t been the smoothest ride, but chief operating officer Kristen Morrison said they are doing their best to keep customers satisfied.

Jefferson purchased Riverdale after it was placed into a conservatorship and eventually liquidated last year due to unsafe and unsound practices, according to the National Credit Union Administration.

“I want to apologize for any inconvenience they’ve experienced during this and just ask that they bear with us during this time because we’re doing everything we can to help them have access to better financial services,” Morrison said Thursday.

Jefferson went live in Selma in late March, and some of the issues, such as long lines, people not getting debit cards and changes to account numbers have caused some issues. The culprit behind those issues, according to Morrison, was limited data when the merger happened due to Riverdale no longer existing.

“We were provided limited data since Riverdale was insolvent, which caused us merging the data to be a little rocky,” she said. “We understand some of the members are experiencing some hiccups.”

But Morrison said the bank is working to fix those issues.

“The lines were ridiculously long. We were having to stop taking people in the branch at like 3:30 p.m. even though we closed at 5 p.m. because we couldn’t service them,” she said.

“We have ordered cash recyclers that we’re going to be installing at that branch to help expedite the transaction time. I’m hoping that they’ll be installed within the next quarter. … It’ll help, and those long lines that are there will hopefully go by the wayside.”

Some members were not issued debit cards when Jefferson took over.

“People didn’t get debit cards, but if we didn’t know they had debit cards, there was no way we could issue it. If information wasn’t given to us, we couldn’t just create it,” Morrison said. “Now, they can go into the Highland branch, and they can be instant issued a debit card.”

Issues with account numbers have also been fixed, Morrison said.

“We did have a handful of accounts that we did have to change their account numbers, but when we do that, it’s very, very simple,” she said. “We just add an additional number of digits to the end of their account number.”

The transition has been a challenge, Morrison said, but things are starting to smooth out.

“It’s definitely been challenging, but we’re doing everything we can to provide more services to them that match their need and not over extend people,” Morrison said.

The bank is also trying to inform customers of its mobile bank capabilities, such as online loan applications and a mobile app which allows check deposits on the spot.

Customers with any issues can call 1-800-259-2471 for questions or concerns.