Employees who bank with credit unions may notice a delay in today’s pay deposit. Normally pay is available first thing in the morning however, due to an issue beyond the university’s control, pay will be deposited later today for about 400 employees.
Today’s pay is delayed because of a timing issue between the technical systems of McMaster’s bank, CIBC, and certain credit unions. The financial institutions successfully corrected the issue this morning, and all credit unions are currently expediting processes to get pay into employee accounts as soon as possible today.
Normally, financial institutions will waive any NSF fees or other penalties when the problem stems from issues in their own system. Affected employees may call extension 222-HR for personal assistance.