Is this how they run credit unions banks?

[atomb]

Unbelievable incompetency at my Bank the last three times of dealing with them.
Credit union is where i have been getting loans on my vehicles.
Had a loan for 30k on a new vehicle paid it in full last payment i walked it in in like a happ y guy and sat with teller ...thanks great walk away well he didnt have me sign the release that stops taking money from y account and had to basically deal with issue strike one ,not bad but major inconvience luckily no damage to accounts had cash in so i was lucky.

went for a new loan this week on used car and granted i should be paying in cash but im spread out right now. So go in get the paper work started and we discuss the qualifications they have. I have a plus credit and get the lowest rate with other discounts as well. next day i find a great vehicle go back to bank and discuss the finer details. Now im getting all the work together Insurance seller Bank DMV and the bank recieves the insurance and tell me that the car is 1 year to old to qualify . I says what about red flagging me the day I came in after vehicle was found? Of course the manager is away and some incompetent person is standing in ...The sub manager is now talking with their brass and here i await Venting too you guys. there was a second situation where i got to see the lack of knowledge these loan reps have. Should have ran the other way.
Im pissed....... Teachers Federal CU I think im packing up my account and moving.. Sorry for the Rant just needed to vent

 

[Phog Allen]

Nah, not a vent. Just the truth. We have a great credit union associated with university where I work. We've been there ages now and will not change unless something very amiss.

Now to the horror story. My mom and dad dealt with a local savings and loan for years. I started a chequing account there and with my meager earnings and expenditures, it was not a big deal. Till a big hail storm did a lot of damage to the truck I mentioned above. The insurance company sent me a cheque for around 1600 dollars(not nearly enough I might add but what, an insurance company not paying its bills?LOL). I had the truck a body shop getting it fixed and wrote them a cheque for the amount. Being kind of paranoid since I had never seen that kind of money in my life, I went to the bank to get some spending cash and make sure it had cleared okay. The teller told me I had WAY less in my account than I should have. Uh oh. What happened?

She only hazarded that something was "wrong" with the cheque and told me nothing further. I kind of stood there dumbfounded and she finally allowed as to how she should probably get the branch manager to tell me what was up. As you can imagine, as a 24 year old kid with not much experience I was pretty nervous. I didn't know what to think. The manager comes over and nonchalantly tells me my cheque was not endorsed properly and the bank pulled the funds. Say what? I told him I signed it and he said he knew.

What had happened was it was made out to me and the credit union. Not really knowing any better I just signed it and deposited it. I had paid the truck off at least a year earlier and didn't think about lean releases. So I asked what should I do? Deadpan he tells me I need to go down the street and get someone from the credit union to come over there and sign off on the cheque. I asked him if he thought they would just drop what they were doing because a twenty something kid asked them to? He retorted I should have known how to endorse a cheque properly. I told him I didn't have any trouble spelling my name but that maybe his clerk could use a remedial reading course because she accepted and deposited it without the credit union endorsement and didn't say a word to me about it. At that he sort of came off the horse's arse attitude and told me it was a poor oversight on their part. That still didn't tell me what I needed to do. By now the body shop was almost done and I was afraid they were going to have a cheque bounce for over $1500 dollars. Nice.

Finally they sent it over to the CU and they provided a lean release and a signature from the loan officer. Problem solved. I didn't learn from my mistakes. Just a short few years later my wife and I were married and I added her to my account. The S&L consistently told her when she would deposit her pay she couldn't do because she was not the account holder. Of course this had her steamed and I wasn't far behind. We told them to pound their savings and loan and took all our business to the CU. No problems since. It is amazing that institutions that handle your money (essentially your life) are so blaise faire about it. We love our credit union. So far they have not bollocksed anything we've done there. Sorry for your aggravation today. I have been there and realise it is NOT fun. So go ahead and vent it!

Regards, Todd

 

[dpm802]

Well, while we're on the subject ... I've had accounts at a number of CUs down through the years, and I like banking that way, with one exception.

The place I work at now does their banking with a CU. So the guys at work are telling me that they have their paychecks direct deposited at this CU, and they get paid a day before everyone else with direct deposits at other banks.

All this sounds really good, so I go open an account there, with $180 cash. I let it sit dormant for about 3 months, meanwhile, the CU promised to send me a Debit card through the mail. It never arrived. I got on the phone and found out they had screwed up my mailing address, and sent it to a non-existent house.

So they corrected my address, another two weeks go by, and I finally get my Debit card. I had to call it in and activate it, but they assigned me a PIN instead of letting me choose my own. Every other card I carry in my wallet has the same PIN, so its easy to remember. Except this one. Which renders it pretty useless.

Speaking of useless, this CU prides itself on the high security measures they make me go through to access my account online. "It's for your protection, Sir." Yeah, right ... it has so many passwords and PINs and security questions that it is hit or miss if I can get into my own account. They even make you answer a Captcha code, which I've never seen on any other banking system.

The person who opened my account swore up and down that their online system is compatible with Microsoft Money, so I could download my statements and pay bills and move funds around to other banks. Except Microsoft Money can't get through their labyrinthine security system either, so I can't use it, and this is the ONLY bank it can't access.

So I can't use the debit card, I can't use the online account, and the only way to do any business with them is in person. And their hours don't match up to my schedule, so its only a few times that I'm able to be there to withdraw money.

Luckily, I never signed up for direct deposit with them, but remember, I had $180 in there to start with. After a few months, I needed some pocket cash, and I went to them to withdraw $100. This went through OK, except I had to do it in person, instead of using their ATM.

A few months later, I wanted another $60 withdrawn, and there is $2 missing from one account, and $3 missing from another. None of the tellers could explain what happened to these accounts. All they could do is print out my statements, and that only goes back 45 days, and there is no mention of any fees or deductions or anything at all that could explain, or even hint at, what happened to this missing total of $5.

They gave me a 1-800 number to call, but I'm not going through that again after my experience with them needing an hour on the phone just to correct my address.

Out of the $60 I wanted to withdraw the second time, I only got $57.

So now, I THINK I still have $23 dollars left in this CU, and I should just go and close out the account. But considering how much stress they put me through each and every time I deal with them, I'm reluctant to do so, and just let it sit there.

As if that were not enough, I've had this account open about a year and a half, and in that time, I've not been paid even one penny in interest.

Like I said, I generally like CUs, except for this one, which is so horribly run that I'd rather just let them keep my money than go through the hassles of closing out my account.

 

[atomb]

yup I here you guys, I work hard for this money ,I make my money with blood sweat persistence and dedication. My money is not made through clever financial deals or through real estate windfalls its just old honest money. With this said I expect my money and my busines to be dealt with the same respect.
Really I have to say everyone i dealt with were good people ,honest and hard working and genuine but they lacked the knowledge to do their job correctly and efficiently and reallly I bthlame their employer the people managing the banks. The reality was that ever loan officer on the floor really performed their tasks as though it was their first loan they every processed. I have dealt with four people at this particular cu and they really have not been trained. I willl be writing a letter to this CU and express my dissatisfaction to that point.
The stand in manager for the cu took 3 hours to get the approval from the brass to help me get the loan thru she deserves to be recognized and the loan officer that put it through really needs to get trained but was sincerely trying to get th loan done correctly. The loan officer who did not flag the transaction was at fault ( loan officer who only works one day a week saturdays) Obviously the places is being managed poorly.

So I got my loan got my car and alls well,but it really didnt have to be that hard or stressful for them or me. The car is a beaut 2002 Jeep Grand Cherokkee 4x4 limited with 80k for Kelly Blue book.

I hate banks - theres a joke about what happens to people when they steal from banks and what happens to Banks when they steal from the public. http://www.associatedcontent.com/article/1918422/10_ways_banks_steal_your_money_legally.html

 

[atomb]

Oh by they way here is the new whip.

 

[Phog Allen]

David, what a mess! I don't blame you for quiting that CU. That is abysmal service. Thank goodness my CU runs to the polar opposite of that business. After my experience with the S&L I will not hesitate to make my displeasure known with these money changers.

Regards, Todd

 

[atomb]

btw they called today and told us that they wanted a copy of the title ..we had asked them eeven offered this to them at the time of doling out the checks the rep declined our offer,realizing today he needed it. Lucky for him we are good people without that info I think they might have screwed themselves.It s really kinda of sad.

 

[DaveNJ74]

Oh by they way here is the new whip.

Nice jeep, I have had many jeeps also. Did they make you get the new yellow plates? I hear if you tell them you dont want one they give you whats left of the white ones.

 

[DaveNJ74]

Forgot to tell my CU story. I bank with a major chain bank but also use a Credit Union. We got our mortgage through our Credit Union and it was a total nightmare. The rates were awesome but it took 5 months to close. I guess you get what you pay for.

 

[IronJohn]

Credit Unions are a sorry lot that try to act like they aren't bankers.

Banks and bankers get a bad rap... for good reason. They can make the most inconvenience for their customers and then blow it off or blame the customer.

When I lived in Virginia my bank suddenly wrote off a loan I had due to bankruptcy. One problem, I was still paying on the loan and never filed for bankruptcy in my life. 5 years later and I was still having that pop up on my credit because every so often, for whatever reason, they would report it again.

I never even missed a payment even though I had to fight with them to keep making them while it was getting straightened out. I will never forget them trying to act like I did something because bankers are never wrong.

Sorry to the bankers out there, but I can't stand the lot of you.

To steal a line from Douglas Adams, "Bankers will the second group with their backs against the wall when the great revolution finally happens." Just kidding homeland security, just a joke fella's.