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Vancity will investigate outage as financial watchdog looks on

(Sonia Aslam, NEWS 1130 Photo)

VANCOUVER (NEWS 1130) — The outage that kept Vancity Credit Union members from accessing their bank accounts online for almost three days has the attention of regulators.

The B.C. Financial Institutions Commission says it’s concerned whenever something like this happens.

In an emailed statement, FICOM says it is taking steps to figure out the reasons behind the disruption. FICOM regulates all activities of a credit union, including how they manage their IT operations.

“We are concerned whenever something like this occurs,” reads the statement by Frank Chong, FICOM’s acting superintendent. “It’s not clear as to what caused this, but we are taking active steps to look into the reasons behind the systems disruption.”

Meanwhile, Anita Braha, Vancity’s board chair, released her own statement today, saying the credit union will commission an independent investigation into what happened to its system to cause the three-day outage.

Last week on Wednesday, Vancity’s online banking service completely crashed, leaving customers with few options to pay bills and move money around.