Space Coast Credit Union

Space Coast Credit Union (SCCU), headquartered in Melbourne, Florida, merged with Eastern Financial Florida Credit Union (EFFCU) on June 30, 2009. This action is a partnership of like organizations. Both credit unions have a Florida heritage and serve the working people of our state. The resulting consolidated credit union has over $3 Billion in assets, 63 branches, and over 150 ATM locations available to serve members. It is the 3rd largest credit union in Florida.

The systems conversion scheduled for the weekend of April 30 - May 2, 2010 will bring the data for the Eastern Financial division members over to the system currently in use at Space Coast Credit Union, allowing the combined entity to operate as one credit union. This conversion will allow all members to use any of the branches and ATMs operated by the credit union. Members will also use one website, one online banking service, and one online Bill Payer service.

Space Coast Credit Union. You will begin to see the Space Coast Credit Union name and logo on materials provided to members, as well as in advertisements. By the time systems conversion is complete on May 3, 2010, most branch materials, advertisements, and official documents will bare the Space Coast Credit Union name. Branch signs will be replaced on or around the time of systems conversion.

No, other than to ensure that we have your current mailing and email address. Your accounts will be converted for you, and SCCU will send you any new items you need to continue to access your account uninterrupted, such as new debit and/or credit cards and checks.

As a matter of fact, you should NOT respond to any communications that ask you to take any action, such as "confirming" your account number, Social Security number, card numbers, or balances. Any such request would not be from a legitimate source. If you are in doubt about any communication purportedly from Eastern Financial or Space Coast Credit Union, please call the Member Service Center (formerly called the Phone Contact Center), or visit any branch.

All members will receive a general Welcome Book with an account-specific mailing that will provide new account numbers, new account names, and specific changes to your account.

These mailings will display the Space Coast Credit Union logo. Please open and read your statements and any mail or email you receive to ensure that you are aware of the changes that will affect you.

You may receive several mailings. The number of mailings will depend on which accounts you have with the credit union. (Please keep these mailings, and place them where you can easily refer to them.)

For most members, only the last two digits of the account number will change. Please understand that these changes are dictated by the systems conversion. It is not possible to honor requests to retain current numbers.

Please see the "Account Number Structure" section at the beginning of the online Welcome Book and refer to the account conversion letter you received for detailed information about your SCCU account numbers.

We will still be able to assist you with your transaction. Any branch or Member Service Center employee will be able to look up your account using your Eastern Financial member number. If that is not available, you will be asked for your name and address and other confirming information to allow the person assisting you to look up your account.

Visit any branch or call the Member Service Center.

As soon as the systems conversion is complete. Systems conversion weekend is scheduled for April 30 - May 2, 2010 with changes taking effect when we open for business on May 3, 2010. Watch for additional announcements online at EFFCU.org and in branches regarding systems conversion.

ATM and debit cards will continue to function after conversion, and your PIN number will not change. If you use an ATM card now to access your accounts, you will keep that same card after conversion. Your ATM card will NOT be replaced with a debit card.

You can also continue to use your EFFCU checks after conversion. There is no need to request temporary checks or make changes to your checks at this time. Once your card expires or you run out of checks, we will issue replacements under the SCCU name.

Card Type:
When your MasterCard debit card is due to expire, you will receive a Visa^® debit card with a new number and PIN. An insert will be included with your newly-issued card reminding you to update any automatic payments you may have scheduled using your old card number.

1. PIN Changes:
   1. PINs for MasterCard debit cards can no longer be changed at an ATM. Please contact the Member Service Center or visit a branch if you need to change your PIN.
   2. The PIN for your newly-issued Visa^® debit card can be changed at an SCCU ATM. PIN change service is not yet available at SCCU ATMs located in Brevard, Volusia, Flagler, or Indian River Counties.

No, you will not need to order new, provisional, or temporary checks as your checks will be honored indefinitely.

Once your supply of Eastern Financial checks is depleted, your next order will be for SCCU checks. Checks can be ordered online at SCCU.com, or you may bring the reorder form included with your Eastern Financial checks to any branch.

Your transactions will continue as before. We recommend that you review your statements after systems conversion for transaction accuracy.

Until systems conversion is complete on May 3, members in the EFFCU division should continue to use the EFFCU.org web site. This will reflect the products, services, and locations available to you in the geographic areas the EFFCU division currently serves. Upon systems conversion, all members from both divisions will use SCCU.com.

Until systems conversion is completed on May 3, continue using Eastern Online Banking as you do today. Once systems conversion is complete, you will access them online at SCCU.com. We will provide you with step-by-step instructions when it's time to start using SCCU Online Banking. Online help videos will also be available in late March so you can familiarize yourself with this service.

Please refer to the Frequently Asked Questions below regarding Online Banking and Bill Payer services at Space Coast Credit Union. You can also view our "Using SCCU.com" page for more information about using SCCU's Online Banking system.

If you do not receive paper statements, your account notices will also be delivered electronically. Notices for insufficient funds, ATM deposit errors, CD maturities, and Overdraft Protection uses will be posted in the "View Statements and Notices" area within Online Banking.

If we have a current email address for you, you will receive an email when a notice has been posted for you.

The systems conversion between Eastern Financial and Space Coast Credit Union will change how and where you will be able to view information about your MasterCard credit card, and how credit union employees can view card information on your behalf.

Learn more about the changes and how you can make payments to your MasterCard credit card account.

The systems conversion between Eastern Financial and Space Coast Credit Union will change how and where you will be able to view information about your HELOC Visa credit card transactions and balances. These changes will also include some limitations regarding the ability of credit union employees to view loan and card information on your behalf.

Learn more about the changes and how you can make payments to your HELOC Visa credit card account.

The merger has restored the ability to provide the loan products needed by EFFCU's membership. The expanded credit union has money to lend, and will continue to offer an extensive selection of products and services to meet your financial needs. As is usual in any business, you may see some products changed or discontinued over time as market conditions and member needs change. Please be assured that any and all changes will be communicated to members well in advance, and credit union staff will be able to assist you should you have any questions or concerns.

Yes, your deposits are fully insured by the National Credit Union Share Insurance Fund for at least $250,000. If you would like to verify your coverage for funds over $250,000, please visit one of our branches or contact our Member Service Center (formerly called the Phone Contact Center), at the number appropriate for your calling area: 954-704-5000 / 305-882-5000 / 800-882-5007.

Your premium and coverage will not change.

Business accounts will also convert to SCCU. Until systems conversion, Business accounts will continue as usual. Business account holders will receive a specialized account-specific mailing that will provide new account numbers, new account names, and specific changes to your account, as well as information regarding expanded services that will be available to you from SCCU.

At this time, the Overdraft Privilege service will remain as is. Any changes will be announced well in advance.

• This special web site for Eastern Financial members, SCCU.com/welcome, and your Eastern Finacnial division website, EFFCU.org, will always display the most current information. Updates will also be handed out at branches and included in statements.
• For those who receive account statements online only (no paper), you will receive electronic "inserts" along with your "statement ready" email.
• Please open your statements, read your emails, and visit SCCU.com/welcome and EFFCU.org frequently to ensure that you have the latest information.

Continue to use the phone numbers, email, and web addresses you have used previously until systems conversion is complete. For more information about contacting the credit union after systems conversion is complete, please see the Contact Space Coast Credit Union section of the Welcome Book. Please note that effective December 1, the Phone Contact Center is referred to as the Member Service Center.

It is necessary to merge the two credit unions' information into one system. The systems conversion allows you to be able to use all of the services across all of the areas we serve.

In addition to many of the features you are used to using within the EFFCU Online Banking system, SCCU provides these useful features:

• Home Page Login: Login right from the SCCU.com home page and from pages within SCCU.com
• Increased Security
• External Account Transfers
• Online Banking Alerts
• Ability to Open CDs Online
• Ability to Open Optional Savings and My Way Savings Accounts Online
• Family Banking
• Secure Messages Regarding Important Account Information
• Ability to Change Statement Preferences: switch from paper to e-statements or from e-statements to paper statements with the click of the mouse
• Request Statement Copies
• Request Check Copies
• Set-Up/Change Overdraft Sources
• Ability to View Statements Online

The SCCU Online Banking system provides a number of features you may have expereienced within EFFCU system. In addition to viewing your account information and managing your finances online in SCCU Online Banking, you can also:

• Create Nicknames for Your Accounts
• Communicate with Member Service Representatives through our Secure Email System
• Update Your Contact Information
• Update Your Marketing Preferences
• View Additional Accounts for Which You are a Joint Account Holder
• Access Online Banking in English or Spanish
• Set Your Online Banking Start Page
• Apply for Loans by Accessing Links through Online Banking

While we will make every attempt to make the transition to SCCU.com as painless as possible, you will experience differences from EFFCU.org to SCCU.com. This is a list of some of the changes you might experience when using Online Banking on SCCU.com:

• Account nicknames may not carry over: nicknames for accounts (like checking accounts) may need to be re-set upon systems conversion
• Changing your Online Banking PIN/password will only update Online Banking and not CALL-24 phone banking. Contact the Member Service Center for more information on updating your CALL-24 Bany by Phone PIN.
• Your session will time out after 5 minutes of inactivity. You were previously able to choose your time out period, but SCCU's Online Banking security requirements require a time out after a member is inactive for 5 minutes or more.
• Account History: Your previous Eastern Financial Online Banking history will not be available after systems conversion. You will, however, have access to past statements online. We encourage you to download any Online Banking account history before the systems conversion takes place.
• The Stock Ticker will no longer be available.
• The Online Banking search option will no longer be available. Instead, you will have the ability to do a sort by date/type.
• Newer versions of Quicken will not be supported (2005 and newer).
• Navigation will change. Please see our "Using SCCU.com" page for more information.
• Security Enhancements: After systems conversion and before the end of 2010, you will be directed to meet the enhanced security requirements of SCCU.com Online Banking. At that time, you will update your Username and Password and set up your Identity and Forgotten Password security questions.

No. Your previous EFFCU Online Banking history will be unavailable once the systems conversion is complete. We recommend that you download any history information you would like to have on hand prior to the system conversion. Should you have questions post-systems conversion about history on your account, please contact the Member Service Center.

SCCU is dedicated to protecting you and your account information from falling into the wrong hands. Over time, you will be asked to set up Forgotten Password and Identity Verification questions and answers, which complies with the latest requirements to keep your account information safe.

This extra layer of protection will require a one-time setup and will only take a few minutes to complete. Over time, once you login to Online Banking, you will be prompted to select a set of security questions with answers that only you will know. The next time you are prompted to answer a question, your answer must match the answer you set up initially before you can proceed to your account information. A feature of the Identity Verification protection is that, over time, your "typical" patterns will be known, and you will only have to answer security questions under certain circumstances, such as logging in from a different computer or conducting an unusual transaction. Please note that participation in Identity Verification is a regulatory requirement, so this is not an optional feature. Click here for additional information and a step-by-step video.

Alerts allow you to receive account information via email covering a wide variety of transactions, including transaction alerts, daily balance alerts and more. Click here for additional information and an online demo.

This flexible option allows you to give limited Online Banking access to family members, accountants or anyone you choose. Visit here for additional information and an online demo.

Transfer funds easily and securely between your SCCU account and your accounts at other U.S. financial institutions with SCCU's External Account Transfers feature. Click here for additional information and an online demo.

From the login screen, enter your "Member Number" in the "Username" field and your "PIN" in the "Password" field. See below. Visit here for additional information and an online demo.

Yes. Your payee details will be available when you log on to SCCU.com on or after April 30 - May 2, 2010 (the weekend of systems conversion). SCCU will be using the same Bill Payer system that you used with EFFCU.

Yes, you're previously scheduled, repeating, or future-dated online payments will be sent as requested.

Yes. On SCCU.com, you'll be able to see up to 18 months of your bill payment history with a beginning date of January 2009.

Yes! Online Bill Payer on SCCU.com is free.

To pay bills on SCCU.com, log onto Online Banking and select the "Bill Payer" tab. Set up payees as you normally would. If you have any questions call Member Services or view our online video tutorial.

No. Online bill payments will be processed just as they are now when you use EFFCU. The only difference is that you will be logging onto SCCU.com to access your Bill Payer information.

Your online bill payments, payees, external accounts, and external transfer activity will not be merged onto your other User IDs even after the systems conversion. You will need to use your current EFFCU User ID and Password to access your EFFCU payees on SCCU.com, and you will continue to manage your SCCU payees through your SCCU.com profile.

Yes. All existing scheduled payments will be moved over and paid like normal.

The EFFCU Bill Payer display shows two tabs - My Profile and My Account - that will not be shown within the SCCU Bill Payer system.

If the payment is sent electronically, the money for the payment is withdrawn from your payment account on the pay date. If the company or person cannot receive electronic payments, Bill Payer Service prints a check and sends it to the billing address. For some checks, the money for the payment is withdrawn on the pay date. For others, the money is withdrawn when the company or person deposits (or cashes) the check.

You will access the Bill Payer system through Online Banking at SCCU.com upon systems conversion. We encourage you to view our online video tutorial prior to logging on for the first time after systems conversion to learn more about how to set up payees.

Call the Member Service Center using the number appropriate for your calling area: 954-704-5000 / 305-882-5000 / 800-882-5007. You may also visit any branch. We also recommend that your view our online video tutorial.

Space Coast Credit Union (SCCU), headquartered in Melbourne, Florida, has merged with Eastern Financial Florida Credit Union (EFFCU). This action is a partnership of like organizations. Both credit unions have a Florida heritage and serve the working people of our state. The resulting consolidated credit union has over $3 Billion in assets, 66 branches, and over 150 ATM locations available to serve members. It is the 3rd largest credit union in Florida.

EFFCU was placed into conservatorship on April 24, 2009, because of declining financial conditions. SCCU was appointed by the National Credit Union Administration (NCUA) to manage EFFCU during conservatorship. SCCU then filed an "intent to merge" with EFFCU, which was approved and finalized.

This is a significant moment in the history of both credit unions. The combined organization will benefit all involved, ultimately providing members of both credit unions with a much larger service area. The operating efficiencies that can be realized across the combined entity ensure that members can continue to experience low loan rates, high deposit rates, and a high number of free and low-cost services.

Space Coast Credit Union is a well-managed financial institution, with strong reserves and operating efficiencies that have allowed the credit union to become one of the top providers of mortgages, vehicle loans, and deposit accounts in our market area. SCCU is well-prepared to extend service to the members of EFFCU and ensure the safety and soundness of the combined credit union going forward.

This action will actually insulate both credit unions from a concentration of risk by expanding and diversifying the economies in which we operate. The service area for the expanded credit union includes a wide variety of employment sectors, which protects the cooperative from the impact of a weakness or downturn in any particular area of the economy.

On its own, EFFCU had very little net worth, but the combined entity now has approximately $200 million in net worth. Now that the merger has been approved, all of EFFCU's assets will be written down to fair value and the entity should be profitable in future years because of the prudent write-downs that were taken from 2007 through 2009.

No. As a matter of fact, one of the primary purposes of this action is to restore the ability to provide the loan products needed by EFFCU's membership. The expanded credit union has money to lend, and will continue to offer an extensive selection of products and services to meet your financial needs. As is usual in any business, you may see some products changed or discontinued over time as market conditions and member needs change.

Please be assured that any and all changes will be communicated to members well in advance, and credit union staff will be able to assist you should you have any questions or concerns.

All EFFCU branches are being evaluated for potential consolidation to gain efficiencies. Service to members will be a consideration in any decision.

Not at this time. As with any business, fees may change over time. Should something change, account holders will be notified in advance and all required disclosures will be provided.

The merger between EFFCU and SCCU does not change any terms, conditions, or agreements you have with EFFCU for such things as loans, deposit accounts, etc.

Check holds are determined at the time of deposit by evaluating your account. Many factors are considered including your length of membership, check amount, and your relationship with EFFCU.

• Greater operating efficiency, which will ensure a high return to members in the form of high deposit rates, low loan rates, and more free and low-cost services.
• The combined market areas provide greater access for existing members.
• Added convenience. More branches and ATMs will be available to serve members.
• Improved service. SCCU has developed highly efficient, centralized lending and account opening processes that, when expanded into the EFFCU market area, will provide faster, more convenient service to members.
• Expanded product offerings and expanded access to these products.
• Combining our organizations will strengthen our presence in Florida and positions us to grow and expand, which will improve the return to you, our member-owners.

Doug Samuels is the CEO/President of the merged credit union. SCCU's Board of Directors is also the governing board for EFFCU. A combination of Senior Management staff from both merging organizations will oversee the day-to-day operations and service to members.

Yes, and it's very simple: Use the products and services your credit union offers. The greater the participation is in the credit union, the greater the return that can be provided to members.

Loans generate interest income, and checking accounts can generate transaction income, both of which help pay the operating expenses of the credit union. This helps ensure that you get a greater value for your membership in the form of higher interest rates on deposit accounts, lower rates on loans, and more free or low-cost services.

You, the members, own this financial cooperative. Why would you pay your hard-earned money to another financial institution? If you have your checking account or vehicle loan at another financial institution, all you have to do is pick up the phone or visit a nearby branch to move your business to EFFCU.

Another contribution to the strength of the credit union is, of course, to pay loans on time, according to the terms of your loan agreement. If an economic challenge is currently making this difficult, it is important to be pro-active in contacting EFFCU to discuss your situation.

Yes, unfortunately, the announcement of the merger is sure to bring out criminals who attempt to steal your personal and financial information. Be on the lookout for emails or text messages requesting that you update your personal and/or account information online. Neither EFFCU nor SCCU will ever contact you via email, text message, or telephone asking for personal information such as complete social security numbers, account numbers, dates of birth, etc. If you receive an email requesting you to update your personal and/or financial information, please forward it to reportfraud@sccu.com.

Space Coast Credit Union was chartered in 1951 as Patrick Air Force Base Credit Union to serve the employees of the rapidly expanding aerospace industry. It has grown steadily over the years, along with the community, by continuously expanding its product and service offering to meet the changing needs of the membership.

The credit union is headquartered in Melbourne, Florida with a regional headquarters in Daytona Beach. SCCU serves over 160,000 members with assets of over $1.6 billion through a network of branches and ATMs located from Vero Beach to Palm Coast, and through its web site, SCCU.com. Space Coast Credit Union is open for membership to anyone who lives or works in Brevard, Volusia, Flagler, Indian River, Orange, Osceola, Seminole, or St. Lucie counties. The merged credit union will include all of Eastern Financial's Field of Membership as well.

In the true spirit of cooperative ownership, SCCU members are given the opportunity to regularly provide their input regarding service levels and products through the unique Watchdog Rating System. The ratings are gathered through online surveys delivered to members via email, providing an efficient, inexpensive means of ensuring that the management and staff of SCCU are always aware of, and focused on, what is important to the members. Ratings and reviews are also published online, allowing members to benefits from others' experience. These ratings and reviews from actual members let others get real information they need to help make decisions.