Statements Letter (FAQs Version) - Core Conversion
A core conversion allows financial institutions to offer better or new services to their account holders. It also brings a lot of change with it, however. This letter will help inform your account holders of the core conversion and how it will affect their statements.

Dear [Customer’s/Member’s First Name],

We are excited to announce that we are converting to a new core banking system starting on [INSERT DATE] through [INSERT DATE]. We decided to change our core system so we may continue to provide you with safe, secure products and services all while utilizing the newest technology.

The core conversion is bringing in many good changes, but it will impact some of our services, such as electronic and paper statements. Below are some helpful FAQs we hope will help prepare you for this process:

Q: Can I still receive paper statements every month after the conversion?
A: Monthly paper statements will still be provided for those who would like to receive them. We will also be offering an improved e-statement option with more storage and easier navigation.
Q: What will happen to my e-statement history when the core conversion takes place?
A: Your e-statement history will no longer be available after [INSERT DATE]. We strongly recommend you print off a year’s worth of statements for your records.
Q: Will my statements look different or change after the conversion?
A: You will notice a difference when it comes to looks, but otherwise your information and the content in the statement will remain the same.
Q: Will my account analysis change?
A: The fee schedule and calculations will remain the same, but the settlement date will change for fees caused by an analysis deficit balance. These fees will be charged on the 15th of the next month following a monthly, quarterly, or annual settlement period.
Q: Will the core conversion affect my e-statements?
A: Your e-statements will not be affected by the core conversion, but it will affect your e-statement history (noted above).

We are looking forward to the new changes, and we hope you are too. If you have any questions, please contact us at [INSERT PHONE NUMBER] or visit our website at [INSERT WEBSITE URL – OR SPECIFIC CORE CONVERSION FAQS PAGE ON YOUR SITE].

Respectfully,

[Name]
[Title]
[Bank or Credit Union Name]

Download & Info
  • License: Free for Commercial Use
  • Product/Service: System Conversion
  • Note: Compliance related items not included, as they differ for banks and credit unions.
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