What is a Core Conversion? (FAQ Version) - Letter
This letter will help inform your account holders of the core conversion and address general questions about the process.

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.

While our core conversion will mostly be happening behind the scenes, there will be times where it will affect some of the services you may use. We will keep you up-to-date on when and what will be affected so that you will be prepared. We also want to provide you with more information on what a core conversion is and why we are doing it.


Core Conversion FAQs

Q: What is a core processing system?
A: Our core processing system, also known as a core system, is the software that manages our major banking functions. These functions include:

  • Opening and managing accounts
  • Originating and serving loans
  • Processing cash deposits and withdrawals
  • Maintaining account holder information
  • Processing transactions
  • And more

Q: Why is [FINANCIAL INSTITUTION’S NAME] upgrading its core system?
A: In an effort to improve our services, efficiency, and accommodate growth, we are upgrading our core system. Our new core system will allow us to offer you more capabilities, offerings, and enhance your experience with us.

Q: Will business hours change during the core conversion process?
A: [INSERT TIME AND DAYS THAT WILL BE IMPACTED BY CORE CONVERSION PROCESS]


We are looking forward to the new changes, and we hope you are too. If you have any questions, we encourage you to contact us at [INSERT PHONE NUMBER], visit our website at [INSERT WEBSITE URL], and “Like” us on Facebook. We will be available [INSERT DAYS AND HOURS ACCOUNT HOLDERS CAN CALL]. You may also come into any of our branches. Our staff has been trained and is prepared to answer any questions you may have.

Respectfully,

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

Template 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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