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Find a Location

Southwest Regional Credit Union has 1 locations, listed below.

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    Business ProfileforSouthwest Regional Credit Union

    Credit Union

    At-a-glance

    Customer Reviews

    This business has 0 reviews

    Customer Complaints

    1 complaints closed in last 3 years

    0 complaints closed in last 12 months

    Customer Reviews are not used in the calculation of BBB Rating

    Reasons for BBB Rating

    Related Categories

    Business Details

    Location of This Business
    57 McNaughton Avenue, Wallaceburg, ON N8A 1R7
    BBB File Opened:
    19/8/2022

    Industry Tip

    BBB Tip: How to choose a new bank or credit union

    Customer Complaints

    1 Customer Complaints

    Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews

    File a Complaint

    Most Recent Customer Complaint

    15/08/2022

    Complaint Type:
    Order Issues
    Status:
    Answered
    I have a mortgage with the Southwest Regional Credit Union. I have had major repairs to have done on the property and have increased my property value. The home still requires more work making it necessary to refinance the home and use some of the equity to pay to complete repairs. The credit union is attempting extortion and use harassment and bullying to keep me from taking my business to another financial institution. The manager is trying to deny me my right to prepayment of my mortgage. I have not argued the prepayment penalty. When my lawyer contacted them last week, they told my lawyer that I can not prepay my mortgage with them and refused to give out information on the amounts owning. When I opened the mortgage, their financial services administrator, Theresa Acs told me that if I should opt to prepay my mortgage at some point that I would also have to pay a prepayment penalty the equivalent of 3 months interest and a small administration fee which in totality should not exceed $2000 to $3000 beyond the existing mortgage at the time. My current mortgage balance is $69, 287.05. At the interest rate 5.14% that makes the penalty fee $890. I do not know the current administration fee. I need the closing amounts forthwith to be given to my lawyer as closing is Wednesday August 17th, 2022 and she needs the information before Tuesday August 16th,2022. It is a legal request to have the closing amounts disclosed upon request of myself or my lawyer. It is also a legal requirement that information on prepayment penalties and administration fees be given to me on an annual basis which the credit union has failed to do and are in contempt of Canadian law in so failing.
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    Customer Reviews

    0 Customer Reviews

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