For almost exactly one month, UNI Financial Cooperation branches across New Brunswick have had full parking lots and long lineups, as clients grapple with technical problems that leave some of them unable to access their account, transfer funds or receive their paycheques on time.
The Cap-Pelé branch, located in the newly amalgamated community of Cap-Acadie, had a one-hour wait time for clients on Friday.
The technical problems started on July 6th, as UNI launched their own banking app following its split with Quebec’s Desjardins bank.
Cap-Acadie’s Chamber of Commerce has been unable to pay a growing number of invoices since then.
In an interview on Friday, Chamber of Commerce CEO Anthony Azard said vendors have been patient about the late payments so far.
“We’re talking about printing, promotion, marketing, we’re talking about some utilities,” he said.
“It’s getting harder and harder because some of the invoices will go on 90 days-plus overdue, so that’s going to be tough to explain to our vendors because we’re still unable to process any payment at the moment.”
He said they don’t have access to a full statement of accounts, and the Chamber has been told by UNI staff that the balances showing in the accounts may not be accurate.
“It’s like driving a car with your eyes closed. We are not able to drive — it’s dangerous to do so. Well, we’re doing the same with our finances,” Azard said.
He said they’ve received conflicting advice from UNI staff about how to pay their vendors.
Sometimes when they call, they are told to be patient and that the automatic payments will eventually go through.
Other times, they are told they should make another payment because the originally scheduled payments haven’t gone through.
“We are definitely afraid to be paying the same payment twice,” Azard said.
He said the Chamber’s board of directors was considering all options, including potentially severing ties with UNI.
He said it’s a difficult prospect to think about, because of UNI’s importance to the Acadian community.
UNI, formerly known as Caisse populaire acadienne (Acadian Credit Union), has been an Acadian institution since the 1930s.
“Obviously this is not an option we want to go through, but a month into the transition we need to start thinking of ourselves and how to manage our money.”
UNI CEO Robert Moreau was not available for an interview on Friday.
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