Important information about the changes to your banking arrangements

Attention: open in a new window. Print

Changes to your banking arrangements following the merger between Sutherland Credit Union and IMB Bank.

 

In 2016, Sutherland Credit Union (SCU) members voted overwhelmingly to merge with IMB Bank which would deliver many benefits. For SCU members in particular, these benefits included:

  • No transaction or account keeping fees for two years on The Shire… Local Banking branded transaction accounts from 1 July 2016
  • A 0.15% reduction on all variable rate personal loans and home loans which was passed on immediately upon the merger being formally executed
  • Formation of the Shire Community Foundation with $100,000 in grants provided to local initiatives each year for a minimum of three years
  • An expanded product range, enhanced online and mobile banking facilities and an extended branch network across Sydney, the Illawarra and the South Coast, ACT and Melbourne

Changes to your banking arrangements are necessary to fully realise the merger benefits. On 27 May 2017, SCU banking facilities, services and technology will be migrated to IMB Bank.

We’ve made every effort to minimise disruption to you, but there are some changes that will affect the way you bank.

 

The changes that may affect you

  1. New Member Number
What’s the change?

As we integrate with IMB Bank systems, you will receive a new member number. This will be sent to you in the post in the first two weeks of May and will come into effect at 8am on 27 May 2017. Please note that there is no change to your account numbers.
 

How will that affect my banking?

Your new member number will give you access to IMB Bank’s online banking including:

  • Internet Banking; providing secure 24x7 access to your banking so you can bank whenever you want to.
  • Mobile Banking App; with secure one-touch access, banking on your mobile is fast, easy and convenient.

For more information on IMB’s online banking facilities please visit imb.com.au/internetbanking

  2. New Visa Debit card with PayWave technology
What’s the change?

If you have a current Visa Debit card, you will soon receive a new card with PayWave technology, allowing you to make payments quickly with a simple wave of your card.
 

How will this affect my banking?

Your new card will arrive within the first 2 weeks of May and your PIN will arrive 3-5 days later. You may activate your card as soon as you receive it, however you need to use your current card until 8am, 27 May 2017.
 

Activating your new card is simple:

Once you receive your new card and PIN, we will send a text message to your mobile phone. Simply reply ‘YES’ or ‘Y’ to the message and we will activate your card for you.

If you do not have a mobile phone, you can activate your card by calling 1300 784 388 or visiting any SCU or IMB Bank Branch.

Please remember that your activated card cannot be used until 8am, 27 May 2017 when our systems migrate.

Once your card is activated, you can change your PIN at any IMB Bank ATM. Find your nearest IMB ATM at imb.com.au/locate 

  3. New card payment details

What’s the change?

Your new Visa Debit card will look the same as your current card, however the card number, expiry date and security number (CVV number) will be different.
 

How will this affect my banking?

It is very important that you update any payments linked to your Visa card with your new card details. This might include any recurring payments or direct debits you have scheduled as well as any instances where you have loaded your card information into payment services such as Apple’s App Store or Android’s Google Play1.
 

IMPORTANT- Please ensure you update your card details as soon as possible after 8am, 27 May 2017. 

  4. Access over 3,000 ATMs free of direct charge fees

What’s the change?

IMB Bank offers access to over 3,000 ATMs across the IMB Bank and Westpac Group ATM Networks free of direct-charge fees. This includes all IMB Bank, Westpac, St George, Bank SA and Bank of Melbourne ATMs.
 

How will this affect my banking?

Avoid ATM fees by using IMB Bank or Westpac Group ATMs from 8am, 27 May 2017. These networks will remain IMB Bank transaction fee-free for TSLB Accounts until 1 July 2018 as described in the PDS Fees, Charges and Limits.
 

If you use a RediATM after 8am, 27 May 2017, you may be charged a direct charge fee by the ATM owner.
 

Find your nearest ATM at imb.com.au/locate

  5. New Chequebooks

What’s the change?

Your current chequebook will need to be replaced with an IMB Bank chequebook from 27 May 2017.
 

How will this affect my banking?

If you would like to continue using cheques, you will need to order a new IMB Bank chequebook. Simply send a request to cheques@imb.com.au or call us on 1300 784 388 and we will send a new book out to you. From 27 May 2017 your current chequebook will no longer be valid and any unused cheques should be destroyed.
 

Order your new chequebook before 24 May 2017 to ensure your new chequebook arrives by 27 May 2017. Any SCU cheques that have been issued before 27 May 2017 but have not yet been presented will continue to be honoured at the time they are presented.

  6. Deposit Books, Bank@Post and Deposit Cards

What’s the change?

Deposit books cannot be used after 4pm, 26 May 2017.
 

How does this affect my banking?

You will now be able to use your Visa Debit Card to deposit or withdraw funds via Australia Post’s Bank@Post service. Bank@Post is available at any Australia Post outlet.
 

You may also choose to use an IMB Bank deposit card which allows only deposits to be made to your account. The deposit card can also be used at any Australia Post outlet. Transactions will be processed to your account on the following business day. If you would like a deposit card, simply contact your local branch. 

  7. New Internet and Mobile Banking

What’s the change?

From 8am, 27 May 2017, you can use IMB Bank’s Internet Banking and Mobile App to manage your banking from wherever you are.

To register and find out more information click here
 

How will this affect my banking?

You will still be able to do all of your banking online via IMB Bank Internet Banking. Head to www.imb.com.au and click on the Internet Banking button in the top right corner. Download IMB Bank’s Mobile Banking App from Apple’s App Store or Android’s Google Play.
 

Use your new Member Number and your current SCU password to log in to Internet Banking from 27 May 2017. You will be asked to change your password when you first log in.

 

 

Please read the below for important document changes

1. The Notice of Variation of The Shire...Local Banking Terms and Conditions


The Notice of Variation (NOV) is an important document and should be read by all members.

It outlines all changes to the terms and conditions applying to SCU loan and deposit products, overdrafts and lines of credit, account facilities, frequency of statements and fees and charges.

We understand that some members may wish to speak with a staff member with some questions about the NOV. We welcome all members to call us on 1300 784 388 should you be needing to better understand any parts of the NOV, or with any questions at all.

 

Download

 

2. Product Disclosure Statement (PDS)


The Product Disclosure Statement (PDS) is an important document and should be read by all members who hold a deposit product (including accounts with an overdraft or a line of credit) and payment facilities. It provides information about the products and payment facilities so members can decide how you wish to use them, and so you can compare them to similar products and payment facilities. 

 

Download

 

3. PDS- Fees, Charges and Limits


This is a brief but important document that should be read by all members. It forms part of IMB Bank’s Product Disclosure Statement (PDS), for the products and payment facilities, as outlined above.

Transaction fees and account keeping fees are waived on TSLB Accounts until 1 July 2018 as explained in the document on page 2. Also, depending on the particular services you require, IMB Bank service fees as set out in the document may apply. 

 

Download

 

4. PDS- Interest Rates IMB Deposit Products


A list of interest rates for IMB Deposit Products was included in the information pack mailed to TSLB members during April. These rates were current as at 1 April 2017 and are subject to change without notice. To get details of the current rates please click "View current interest rates" or call 1300 784 388.

 

View current interest rates

 

1. Apple is a trademark of Apple Inc.; registered in the US and other countries. App Store is a service mark of Apple Inc. Android™ and Google Play are trademarks of Google Inc. This information does not take into account your objectives, financial situation or needs. You should consider the appropriateness of this information in regard to your objectives, financial situation and needs. You should consider the enclosed Product Disclosure Statement before deciding whether to acquire any additional facilities from IMB Bank. IMB Ltd trading as IMB Ltd and Shire Local Banking ABN 92 087 651 974 AFSL/Australian Credit Licence 237 391.