Customer ReviewsforCommonwealth Credit Union, Inc.

I've been a mortgage-only customer for the last three years. Do NOT use their mortgage products. I'm not sure if it's their software/tools or if their processes/people lack structure or training. Either way, it shouldn't be my problem. Every year I have to call about a wildly miscalculated escrow projection statement. Last year's projection was so bad that the shortage for this year would DOUBLE my projected monthly escrow payment. Their banking platform (web/app) is just as bad. I discovered a random late charge from seven months ago after viewing my payment breakdown that their banking platform doesn't tell you about. There's no way to pay it online as there is zero mention of previous balances. I'm somehow still on the hook for that late charge, even though I have never been late. The guy I spoke with said, "it's not hurting you. it can be on your account for the life of your loan or until you pay it.." dude, what?! I'll be looking at refi options this year. Stay far away from this credit union.

March 14, 2022

Better Business Bureau
1390 Olivia Lane, Suite 100
Lexington, KY 40511

Re: Justin S******
*************** Drive
*********************
Loan Number: **********

To Whom It May Concern,
This letter is in response to the complaint filed by our member Justin (Jay) S****** regarding concerns with past and current escrow analysis and an existing late charge.
Mr. S****** loan was assessed a late fee on 8/17/21, the late charge was assessed due to the payment being made 15 days after the due date of 8/1/21. The late fee appears on the Mortgage Periodic statement mailed monthly. When Mr. S****** contacted the credit union, he advised our team member that he did not open his statements.

Regarding the escrow concern, the initial analysis performed on this account in 2021 was incorrect. The Hazard Insurance tracking was set up incorrectly. As a result, the payment frequency indicated a monthly amount due rather than annual amount. Mr. S****** brought this to our attention. We immediately corrected the analysis and corrected his account. The corrected analysis reflected only a slight increase in the member's payment. The payment increased from $439.96 to $442.19. This increase was due to increases in the member's tax bill ($339.61 to $346.59) and hazard insurance ($474.01 to $477.36).

The 2022 escrow analysis reflects an annual shortage of $870.13. The shortage is primarily due to an increase in the member's property tax bills. Taxes were $346.59 in 2020 and $994.60 in 2021. The 2022 analysis takes into consideration the higher tax bill amount.

As a courtesy to Mr. S******, we will waive the $16.08 late fee from August 17,2021. In addition, Mr. S****** is not required to escrow due to his loan to value. His escrow account can be closed at his request. He would then be responsible for payment of the hazard insurance and tax bills.

Should you have additional questions, please let me know.
Thank You,

Jaynel C**********
Commonwealth Credit Union
VP of Lending

Well thank you for the courtesy.

That long-winded response does nothing but prove my point. Mortgage info is public record, but the VP will (spitefully) post everything but your social here VS calling the customer.

I don't agree with how (they say) my situation was handled, but that was never the point of my initial complaint. The VP's sideways response should tell you everything you need to know about Lending @ccu.

I am writing this as a formal complaint about Commonwealth Credit Union. I have been a member of this institution since 2017, and during that time have experienced several instances of unsatisfactory service (i.e., discrimination, rude tellers, etc.); particularly, Lexington, KY locations. However, my most recent experience is completely unacceptable. I called this institution's main number on 1/16/22 to renew a debit card expiring on 1/31/22. The representative assured the card was ordered and in route for delivery and would arrive prior to the expiration date. Since then, I went out of town for business and returned to my residence on 2/1/22 - and STILL no card. Since my arrival time was after hours, I contacted the establishment the next business day and spoke to another representative (Casey). Casey reviewed my account and shared a new card was supposedly sent out on 12/18/21- which was never received - and the other representative lied before - no history of another card being ordered prior to the current call. I told Casey this experience put me in an extreme bind because auto-payments are still accruing (negative balances) and I could not deposit or withdraw funds because of the expired card. Casey just said she would order a new and could not expedite the process and that I should be ok until the new card arrived. However, today is 2/17/22...and STILL, no card has been received. This credit union obviously does not care about its members; or at least, not this member. In closing, I still have yet to receive the new card I attempted to order since mid-January. And, ironically, I also tried setup a business account online on 1/14/22 and never received a confirmation in Lexington, KY on 1/21/22.
Review continued...

Yet again, I called the institution and spoke with Grace, Ryan, and Myra about this issue. I was told to call back the following week to setup an appointment because they did not accept walk-ins; I tried. The following week I called and was sent to voicemail and received no callbacks. Then, on 1/26/22 I submitted another meeting request to open a business account at three different locations: Lexington, Frankfort, and Louisville. Within 15-20mins time, a representative from Louisville reached out to assist. I explained my situation and he did not understand why I should have to travel an hour when there were multiple locations within a 5-10mile radius of my present location. He made some calls and another representative (James) called to set up an appointment in Lexington. Yet again, today is 2/17/22 and STILL, no new debit card and no meeting for a business account has taken place.
Signed, Completely unsatisfied customer

Thank you for taking the time out of your busy schedule to reach out to the Better Business Bureau to discuss a situation where you didn't get the service you expected. I've tried reaching out to you by phone and have left 2 voicemail messages and sent an email on 3/9/22. I'm sorry we weren't able to connect.

In your complaint, you stated, you had experienced several instances of unsatisfactory service. However, the only situation you listed had to do with not receiving a debit card in a timely basis. Unfortunately, I can't tell when you received your card, but can tell it's being used. So it seems that issue has been resolved.

I would like the opportunity to discuss this situation and any other situations you have had concerns with.

Please feel free to contact me at 800-228-6420 Ext. 5149 when you have a moment.

Thanks,

Kimberly Durrum
Vice President of Operations
Bettering Lives Since 1995

PO Box 978 | Frankfort, KY 40602-0978
(O) 800.228.6420 Ext. 5149
(C) 859-608-1634
www.ccuky.org