Conversion Update - July 7, 2019

Welcome to SBSU

State Bank of Southern Utah (SBSU) merged with and assumed ownership of Gunnison Valley Bank (GVB) as of close of business February 8, 2019.  Welcome to the SBSU family.

The computer systems conversion is scheduled for July 12, 2019.  Until then, please contact the Gunnison Valley Branch for questions about your accounts.   SBSU employees at other offices do not have access to your GVB account information.

Conversion Updates

Automatic Payments

  • Direct deposits/withdrawals from your GVB account will continue as usual. They will route to your new SBSU account after the conversion in July 2019.
  • We will automatically notify ACH Originators about your new account numbers.  These are the companies that send automatic debits or credits to your account.

Branch Hours

  • Gunnison Valley Branch hours are 9 AM – 5:00 PM (lobby) and 8:30 AM to 5:00 PM (drive up).

Checking Accounts

  • A letter with your old and new account number will arrive in the mail July 2-11.  Please keep the letter(s) in a safe place.
  • New SBSU check starter packs will arrive at the same time.
  • Starter packs include check blanks (25 checking, 20 for MMDA), 5 deposit slips and a $25 coupon toward your first check order through SBSU. 
  • The physical coupon was inadvertently omitted from the starter pack. However, the $25 credit will automatically be applied with your first check order through the Gunnison Valley office of SBSU.
  • Use your new account number when conducting any transaction starting July 15.
  • While we prefer that you use your new SBSU checks, we will accept Gunnison Valley checks for at least 6 months after the July conversion date.
  • Please do not use your new checks or account numbers (for direct deposits or automatic payments) until July 15.

Debit Cards

  • Your cards will not work until Sunday afternoon, July 14 and must be activated first.
  • Your new SBSU debit card(s) and PIN(s) will arrive in separate mailers between July 2-11.
  • Activate your new SBSU debit card starting late Sunday afternoon, July 14, by following the instructions attached to your card.  You must have your new PIN in order to activate your card.
  • GVB cards will stop working about midnight Monday, July 15, 2019. 
  • Carry alternate payment methods with you over the conversion weekend in the event of service disruptions with your cards.
  • Contact your vendors to update your card information they have on file.
  • Contact the GV Office at (435)528-7221 if you do not receive a new card or have problems activating/using your card.
  • If you get several cards and don’t know which account that funds it,
    • Do a balance inquiry after activating your card (activate cards starting Sunday afternoon, July 14).
    • Contact GV office Monday, July 15.

CD, IRA and Savings

  • A letter with your old and new account number will arrive in the mail July 5-11.  Please keep the letter(s) in a safe place.
  • Use the new account number when conducting transactions starting July 15.

Loans

  • Very few loan numbers will change.  We will contact you if your loan is affected.
  • You may continue to use your existing coupon booklets from GVB to pay loans that convert to SBSU’s system even if your loan number changes.
  • Payment options available with converted GVB loans:
     
Loan Type - After ConversionPayment Options
Any Loan Converted from GVBExisting coupon book or Online (requires enrolling)
  • Payment options available with SBSU loans:
Loan Type - Options at SBSUPayment Options
SureCash (overdraft protection)Monthly notice/statement or Online
Consumer installment loansCoupon booklet, monthly notice (upon request) or online
Home Equity Line of CreditMonthly notice/statement or Online
Mortgage LoansMonthly notice/statement or Online
Commercial Cash Revolving LoansMonthly notice/statement or Online
Commercial LoansMonthly notice/statement or Online
Agriculture LoansMonthly notice/statement or Online

Online / Mobile Banking

  • Customers with accounts on the GVB system are not yet able to enroll in SBSU’s Online Banking. We know you’re excited to bank online and we are excited to have you. But, please be patient and see Online Options

Statements and Account History

  • If your GVB account is closed before July 12, 2019: Statements, account history and check images will be available at the GV branch upon request. Normal research/printing fees will apply.
  • If your GVB account is open and active on July 12, 2019: We will assign a new SBSU account number to all GVG checking and savings account and some loans at the conversion. You will be notified of the new account numbers beforehand.
    • Checking/savings activity: Several months of historical account activity will appear online after the conversion. 
    • Check images: Images of checks that post to your account after the conversion will be available to view online.
    • Checking/Savings Account statements: Statements from the conversion forward will be available online.
    • Loan History: Current balance and minimum payment information will be available online.  You will be able to make your loan payments online.
  • If you received a periodic statement for your GVB account, you will receive a statement effective July 12, 2019, with interest paid through the weekend (for accounts that pay interest). This will be your final statement from GVB.
  • Your next statement will be from your converted account at SBSU.
    • Checking and Money Market statements are printed at month end.
    • Savings statements are generally printed quarterly (monthly if electronic transactions occur).
    • IRA statements are produced annually.
    • We do not print CD statements. Interest capitalization and maturity notices are mailed instead. 

Online Options

  • Do nothing: This is the right answer for most people. Your accounts will naturally convert in July.  After the conversion date, you may enroll in SBSU’s online banking. 
  • Open an account on SBSU’s System: Our advice is to keep your GVB account open and active even if you open an account on SBSU’s platform. This will give you the best of both worlds, (a) online and mobile banking with your new SBSU accounts and (b) access to your GVB accounts later when they convert. Again, your GVB account needs to be open and active at the time of conversion in order to appear online.

Other questions:

May I pay my GVB Loans at any SBSU Branch Office?   Our systems are not yet integrated.  We request that you mail your payments directly to Gunnison Valley Bank at the following address: Gunnison Valley Branch of SBSU, PO Box 220, Gunnison, UT 84634.

May I withdraw money from my GVB account at SBSU:  Yes, with a check written on your GVB account or with your ATM debit card at any of our ATMs.  We may need a moment to verify funds by calling the GVB office.  Systems will not be entirely integrated until after the conversion in the summer of 2019