Memberships, shares, checking and loan accounts can be opened prior to merger "live day."  Your Merger Coordinator can provide you with a timeline that lists the time required to open each account type as well as maintain additional information such as joint owners, comakers, and collateral. The timeline will also show the total man-hours required to open all memberships, shares, sub shares, checking, certificate and loan accounts.

Even though loan accounts will have a zero balance, they will not close during End-of-Day processing because funds have not yet been disbursed.

If you don't want the merging members to receive a statement until after merger day, a Statement Mail Group code can be created via Tool #275 "Configure Statement Mail Groups" and assigned to these memberships via Tool #15 "Update Membership Information."

Because funds are transferred during the certificate opening process, CDs cannot be opened prior to merger live day.  A sub account can be opened under the credit union's membership account and funds deposited to it either via Member Account Adjustment or a special data entry screen provided to you. This account will be used as the transfer account when opening CDs. After all CDs have been opened, this sub share should have a zero balance.

Please contact the Conversion Team with any questions you have or additional clarification you may need.