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Merging data from an existing credit union account with the data from a merged credit union

QwikOne

This week, the credit union with which I had been a member for 30yrs was absorbed (merged with) a much larger credit union. I have years of data (savings/checking/VISA) from the original credit union. Is there a way once the new credit union establishes my savings/checking accounts I can merge the transactions from the old credit union accounts with the (obviously) new transactions from the current credit union?

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Accepted answers

NotACPA

You've basically got several choices. But they kinda depend upon whether the new CU keeps your old account number(s), or not.

If they do, just disconnect the account(s) from download and re-connect them to the new CU.

If they don't, also disconnect, but then change the account number before you re-connect.

You've also got the options of creating new accounts, with any new account info, and either moving the transactions from old to new, OR keeping the old accounts as history and going forward with the new accounts.

ALL OF WHICH is your choice, your preference.

NotACPA

There's no reason why a Q data file can't go back almost forever. I have investment data back to 1987 and banking data back to 2007.

And, I believe that as a safe practice, you should keep your data for the current tax (probably calendar) year and the 7 prior tax years … since, in worst case scenario, that's how far back the IRS can audit you.

You can certainly move transactions from old accounts to new (take LOTS of backups during such process) OR you can simply create new accounts and use the old/existing accounts as "history".

But, first things first, you need to determine what the new CU is doing with the accounts.

Write back when you know that.

All comments

NotACPA

You've basically got several choices. But they kinda depend upon whether the new CU keeps your old account number(s), or not.

If they do, just disconnect the account(s) from download and re-connect them to the new CU.

If they don't, also disconnect, but then change the account number before you re-connect.

ALL OF WHICH is your choice, your preference.

QwikOne

After asking the question I got to thinking …. other than tracking spend per category, payee, etc. over time how long would I really have to go back to accomplish this in a meaningful way? 1, 2, 3 years. If I can just transfer transactions from old to new accounts, that all I need.

Thanks!

NotACPA

There's no reason why a Q data file can't go back almost forever. I have investment data back to 1987 and banking data back to 2007.

You can certainly move transactions from old accounts to new (take LOTS of backups during such process) OR you can simply create new accounts and use the old/existing accounts as "history".

But, first things first, you need to determine what the new CU is doing with the accounts.

Write back when you know that.

QwikOne

Thanks so much. I sorta considered these options, made sense, but I am such a novice with Quicken its best to get validation.

My problem using quicken is my OCD. Particular about naming Payees, a million categories (Purchase: Left-handed widgets). For me its for producing specific reports.

So, when this CU merger happened and new registers begin, I freak about running the reports back a few years to see actual spending habits. How am I ever going to know for the past four years how much I spent on left-handed widgets😉? The problem combining OCD with ignorance of the app. And there's more which I'll put in a separate thread so as not to confuse anyone looking for your advice on this topic.

NotACPA

@QwikOne Rather than a million categories, have you looked into Tags?

So, you could have a Category for TOOLS, a sub-Cat for Widgets and a tag for Left-handed. Then another sub-cat for thingamajigs and a tag for Ambidextrous.

Tags can be used with any category, and you can report by tag, which would sum all of your Left vs Ambi expenses.