Update on my Credit Union "Issues"

[gcvmom]

Well, I mailed a certified letter on Monday addressed to the COO of my credit union and cc'd the CU president as well.

In my very first sentence I bluntly told them that I was angry and felt victimized, and then went on to explain the situation that had taken place over the weekend with the five surprise overdraft charges. Suffice to say my outrage was explicitly conveyed.

About 10 minutes ago I received this email:

Hello gcvmom
I am responding to your letter dated January 2nd, 2010 regarding the fees assessed to you. I tried calling, but your number was busy. [I was on the phone with husband tonight.] First, please accept my apologies for the frustration you have incurred in requesting the reversal of your fees and also the delay in receiving the account verification. After checking with the Department who handles our account verification, they cited no delay in any processing as we have a number of these that are processed daily. I am not sure what the delay was for your husband’s, but if they are still waiting on it, please ask them to fax to me at 408-731-4053.
A brief explanation on the process is when you deposit you checks into an ATM, the first $100.00 is available to you and based on you using a XX CU ATM or another Financial Institution’s ATM, the funds could be on hold from 2-5 business days. The enclosed items have to be verified. Any deposits made at an ATM will likely incur a hold.
I have reversed all fees totaling $140.00. In the future, please visit a shared branch if a XX CU Branch is not near so you do not experience a delay in your posting.

Thank You for being a loyal member of XX CU. We appreciate your Business. I can be reached at the phone number below if you need to discuss this issue further. Thanks


XXXX
Vice President
Branch Admin/Business Svcs
XX Union

I am one happy squeaky wheel tonight!

 

[flutterby]

I really don't like the hold on payroll checks. I don't like the hold on any of your funds since you've been a member with them for so long. My bank does that for the first 6 months of a new account only. $100 was/is available immediately and the rest was available in 5 days. After 6 months, no hold at all on any amount.

But, I am glad they refunded the fees.

 

[gcvmom]

See, Heather I'm glad you tell me things like that because if you have services like that then I have to think SOME place near me would offer it as well. So I'll thank them for their refund and then I may just keep shopping for a new place anyway.

 

[Suz]

Yeah, that was my point as well. You've been a loyal and profitable member for 25 years. There's no reason on earth why you should have ANY holds on ANY of your checks.

I would followup this person's email with a phone call. I would thank this person for reversing the fees and to see how you can have your account coded "no holds." With computers the way they are, I can't believe this can't be done.

Good job, J!

Suz

 

[gcvmom]

The VP gal called again tonight and this time our phone wasn't busy She wanted to be sure I got her email and that I knew the fees were reveresed. She explained again that since I deposited the check in a non-CU atm, it takes several days to get to them AND each institution has their own rules for limits on what checks they'll allow to process through without a hold. Whatever. I've learned my lesson. She said to call her directly if I have any other situations like this that come up where I'm concerned about funds being made available and she'll take care of it.

I just may make the switch anyway. I'll be researching my options in the coming weeks.

 

[ML]

Sweet Victory!

 

[DazedandConfused]

Wooo Hooo!