Core Banking System Upgrade
Friday, January 25th – Monday, January 28th
This core banking system upgrade will help enhance customer service and create an overall better banking experience. Please find detailed information below explaining how this upgrade may impact you.
The implementation of our new core banking system upgrade has been scheduled for Friday, January 25th through Monday, January 28th, 2019. There will be service interruptions during upgrade-weekend and we apologize for any inconvenience.
Friday, January 25, 2019
- Access to all accounts will be suspended at the close of business.
- Debit cards will continue to work at ATMs and for point-of-sale purchases.
Saturday January 26 & Sunday, January 27, 2019
- All locations will be CLOSED and account access will remain unavailable.
- Debit cards will continue to work at ATMs and for point-of-sale purchases.
Monday, January 28, 2019
- Access to accounts will be restored.
- All locations will be open with normal business hours.
Due to our banking system upgrade scheduled for January 25, 2019, eStatements as of December 31, 2018 and prior to that date will not convert to our new system. Please download and save/print your eStatement history before Friday, January 25, 2019 (especially for year-end tax purposes). Once the system has been converted, eStatements will resume for future statements. For more information please call 1-888-MECHANICS (632-4264).
Internet Banking will require a new login procedure to confirm your identity before accessing accounts on the new system. Please use the revised link on our homepage on or after Monday, January 28th to begin.
- Use your existing “Username” along with your specific account and personal information for the initial login.
- Answer the security and account related questions to authenticate your identity.
- Re-accept our Terms and Conditions
- Reset your password permanently and you are done!
** Please note you will need to complete the initial login and password reset within Internet Banking first, before you can access Mobile Banking. On or after Monday, January 28th delete your existing Mechanics Mobile Banking App and search for “Mechanics Cooperative Bank” from your App Store® or Google Play®. Use your new Internet Banking login credentials for access.
Our new app is available from the App Store® or Google Play®.
- Customers will need to complete the initial login and password reset within Internet Banking first, before accessing Mobile Banking.
- On or after Monday, January 28th delete your existing “Mechanics Mobile Banking” app.
- Search for “Mechanics Cooperative Bank” in the app stores and download.
- You will be required to re-accept the Terms and Conditions.
- Use your new Internet Banking login credentials for access and you’re done.
Telephone banking will now be available as a Main Menu option when calling 1-888-MECHANICS (632-4264). Please note the existing Telephone Banking number, 1-866-599-6324, will also continue to work. As of Monday, January 28, 2019 the new Telephone login procedure will be as follows:
- The new system will require a new 12-digit PIN for both security, and to confirm your identity.
- Further details regarding your unique PIN will be forthcoming.
We will not be reissuing debit cards for this upgrade. Your current debit and ATM cards along with your current PIN, will not change.
** Please be sure and delete the “Card Valet” app for your debit card on or after January 28, 2019. Complete control of your debit card will now be available through Internet and mobile banking. This new feature will allow you to turn your debit card on and off, track spending, restrict purchases at specific merchants or for specific dollar amounts and receive text alerts when thresholds are met.
- WHY ARE WE UPGRADING OUR CORE BANKING SYSTEM?
This is an investment in our future and our customers that will enhance customer service and allow for an overall better banking experience.
- WILL MY ACCOUNT NUMBERS CHANGE?
Account Numbers for both deposits and loans WILL NOT CHANGE. All Direct Deposits and all pre-authorized debits will continue uninterrupted.
- IS MY INFORMATION STILL SECURE?
Yes. In addition, the new system will allow for increased security measures to be implemented.
- WILL THIS AFFECT MY DIRECT DEPOSIT OR ACH?
No, there will no impact on direct deposits or ACH transfers.
- WILL MY AUTOMATIC LOAN PAYMENT BE AFFECTED?
No, there will no impact to loans or loan payments.
- CAN I USE MY CURRENT CHECKS?
Yes, current checks will continue to work because account numbers are not changing.
- WILL MY DEBIT OR ATM CARD CONTINUE TO WORK?
Yes. Debit and ATM cards will not be impacted or re-issued. PIN’s will not be affected.
- WILL MY STATEMENTS LOOK THE SAME?
No, the statements will be formatted a little differently but all the information pertaining to your accounts will be presented clearly and accurately.
- WILL MY ESTATEMENTS CHANGE?
Current eStatements will not convert to our new system. Customers are asked to please download and save or print eStatement history before Friday, January 25, 2019 (especially for tax purposes). Once the system has been converted, eStatements will resume going forward.
- WILL INTEREST EARNED ON DEPOSIT ACCOUNTS BE AFFECTED?
No, interest will be accrued for all accounts the same as before this system upgrade.
- HOW WILL THIS SYSTEM UPGRADE IMPACT INTERNET BANKING?
Internet Banking and Mobile Banking systems will require updated login procedures to support the enhanced security.
Mechanics Cooperative Bank Chooses Finastra for New Core Banking Platform
Taunton, MA – The Board of Directors and Executive Leadership Team of Mechanics Cooperative Bank are pleased to announce that we have selected a new core system provider for the benefit of our customers. This new system will bring together a wide-range of proven and specialized upgrades to create a more supportive and efficient customer experience.
Mechanics Cooperative Bank’s significant investment is aimed solely at improving the products and services available to our customers, with a complete solution built on modern architecture and technology. This comprehensive platform will help provide all Bank staff with exceptional insight for improved customer service and an overall better customer experience.
“By upgrading our core technology, we are making a long-term commitment to our customers.” said Joseph T. Baptista Jr., President and Chief Executive Officer, Mechanics Cooperative Bank. “This is an investment in our future that will help us provide better service and cutting edge products to deliver an overall better banking experience. Working with Finastra, we have selected not only a technology vendor, but a software system that will help ensure our customers’ needs and expectations and remain our top priority.”
We expect our customers to see a majority of these upgrades in early 2019. We are excited for this opportunity to improve our service and ensure our customers continue to have access to the most advanced banking products available in the banking industry.
Our top priority through this process will be to ensure that all our customers are well informed throughout the conversion. Again, we are absolutely thrilled to share this exciting news.
For further information please contact:
Vice President, Marketing
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. We provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology. Please visit www.finastra.com.
About Mechanics Cooperative Bank:
With total assets of $580 million, Mechanics Cooperative Bank offers a wide variety of personal and business deposit and loan products. As a Massachusetts co-operative bank, 100% of customers’ deposits are always fully insured. Established in 1877, Mechanics Cooperative Bank is Massachusetts’ second-oldest co-operative bank with eight conveniently located branches in Bridgewater, Taunton, North Dighton, Somerset, Swansea, Fall River and Westport. For more information, call 1-888-MECHANICS (632-4264) or visit Mechanics-Coop.com. Member FDIC. Member SIF. Equal Housing Lender.