ComplaintsforCobalt Credit Union

• Initial Complaint

  07/02/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was calling in to speak with a staff today about a situation with my mother and a loan payment. I was told by staff named ********* that due to my name not being on her bank card I can’t make car payments on her behalf. My mother JoAnn had a stroke in February and hasn’t been able to make payments but I have been making them with her card. I was told that if she calls in and approves me as person to pay with her card it would be ok. But I was told that is not an option and company policy doesn’t allow that. I asked if I could speak to her supervisor on the decision and she was able to transfer for me. While speaking to the supervisor I explain to the lady that due to my mother having a stroke she couldn’t physically come into the bank or speak on the phone to make payments because she is not competent to do so herself. I repeated it and then as well told the supervisor that in April and in May I told tenants at online banking the same situation and the payments on my mother’s car was approved. In June while trying to make a payment they told me I couldn’t make the payments. I was respectful and told her that it was the companies mistake of letting the payment go through. I said to the supervisor that since it was the companies mistake for not informing me of the issue it should be considered written off. While speaking and telling the supervisor this, she hangs up on me. And when I call back to ask for the supervisors name I can’t get through. My mother has been with Cobalt for years and to be treated with the disrespect of being hung up on is unacceptable.

  

  Business response

  07/03/2024

  ***** ** ******

  We spoke this morning and we at the credit union, empathize with the challenges of the situation.  When unexpected things happen to us and our family members, it certainly can put us in a bind to conduct what are seemingly day to day banking functions.  You are working diligently to resolve a payment question for an account here at Cobalt and are faced with a challenge of who owns the debiting account outside of Cobalt.  We too want to assist but cannot knowing violate a governing rule of debit cards.  If the card was in your name on your mother's account, we could abide as requested.  We do have another suggestion that may be of assistance.  Please give me a call back at *** ******** so we may explain.

  Thank you,

  Keli

• Initial Complaint

  06/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have had the wrong information updated by the company. They didn't inform me a vehicle repossession in a timely manner by Nebraska state law. The first time of the vehicle repossession was in July 2023 when the tow company just showed up to the residence and towed the vehicle. The second time was May 2024 and I was informed verbally by them that they vehicle was going to be repossessed. I had tried to work with them and get arrangements made to get the past due balanced paid, but they would not allow me only but 3 or 4 days to get the past due paid. This is a company I will not be using again for getting a vehicle loan through. They do not do anything according to Nebraska law or will not work with the consumer (their customer) to make things correct.

  

  Business response

  06/18/2024

  A Notice of Right to Cure was sent to **** ***** twice during the time of the loan in question.  The first notice was sent on July 29th, 2021, with a second notice being sent on August 12th, 2022.  Nebraska statute for Notices of Right to Cure states only one needs to be sent during the loans term.  The loan was brought current in both instances.  However, in July of 2023 the loan fell behind was repossessed at that time.  **** ***** was given an option to pay the loan current, which she did, and Cobalt returned the vehicle. On July 28th, 2023, **** ***** signed an Agreement for Collateral Return in which it is stated: 

  If member should default in any future payment due Cobalt Credit Union under the Retail Installment Contract and should that payment default not be cured within thirty (30) days after the due date, Cobalt Credit Union shall be entitled to immediate possession of the collateral without further notice, written or oral to member.

  It is specifically understood and agreed by member that member specifically waive any and all rights to any future notice of payment default, notice of right to cure and/or notice of sale except as herein stated as to non-payment defaults.

  Member agrees that if member defaults and the collateral is repossessed by Cobalt Credit Union a second time, the member may regain possession of the collateral only by the payment of the secured debt in full.

  It is our position that Cobalt Credit Union has not done anything against policy or Nebraska statute.  Further the credit union has given **** ***** multiple chances to keep the loan in good standing, prior to pursuing any of our legal right to cure any default.

   

  Customer response

  06/19/2024

  
  Complaint: ********
  
  I am rejecting this response because: I had never received any of the notices that were mentioned in the response.
  
  Sincerely,
  
  **** *****

• Initial Complaint

  02/06/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  very long story, not enough space. I got a replacement card on 2/3 before 12pm. 2/4 merchant ran card for $*******, making my didn't opt in for overdraft protection account to -******* with the inactive turned off card in cobalt possession. first it was these companies force payments off inactive cards, but changed to it was ran on 2/3 but posted on 2/4. same card was declined on 2/3 for ****** same company at 10:32 am. I also have real time alerts, so all transactions have posted in real time except for this one. can't contact cobalt until 2/5 even they offer 24hr members service numbers, you can only use during weekly business hours and can only report lost stolen or fraud during said times. options are start dispute, get part of money back for good-faith within 2 days until dispute is settled, transfer the money from another account eat that cost until dispute is settled or continue to withdraw from savings with out of network fees reversed. went on vacation right after I replaced my card. Go to the atm 2/5 and I've reached my *** daily. I did go to the atm on 2/4. I was told that amount didn't post until 2/5 so that plus fees were deducted from that. how did this transaction post to my account on 2/4 4:34 pm but it's saying on there end it posted 2/5 after 1pm. common sense let's me know that there's noway the same account is posting the exact charge 24 hours earlier on my end then cobalt, and only the two transactions I didn't get the real time alerts are the 2 in question. they aren't authorized to raise my limit but if I took the *** I had access to I could start the limit withdrawal again Monday but if the post is lagging because it's the weekend that post about will come out of Mondays limit, and if that happens they can increase it on Monday. cobalt admitted it's not due to any fault of mines, but there's nothing they can do, no suggestions, also everything they have said has been false advertisement and lies, and all 3 apps crash daily.

  

  Business response

  02/14/2023

  Cobalt Credit Union has taken extra care to explain and ensure the member feels comfortable with the process in place for disputing any unauthorized transactions. We have clearly disclosed the time frame and parameters of such process and what to expect. We have also educated our member on the differences of transaction types and business days along with how that can impact the processing of money coming in and out of the account, along with where to look for the difference between pending and posted transactions so the member can manage their account confidently. We appreciate the feedback and have addressed the members concerns directly, so they know the tools and resources at their disposal to manage their accounts.

• Initial Complaint

  11/17/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Paid ****** from my personal bank account on an auto loan. Cobalt Credit Union attempted to collect the same amount a second time. This second attempt was reversed, paying only the original ****** and not doubling the debit transaction. I have shown multiple screen shots of my own bank account to prove payment. My bank gave Cobalt Credit Union a tracing number proving this multiple times. Each time they claim they can not find anything but refuse to speak with ******, my bank the payment came from, so they can furnish proof. This behavior constitutes Auto Fraud, a crime under US penal code, and needs to be addressed with an appropriate investigation.

  

  Business response

  12/27/2022

  Business Response /* (1000, 5, 2022/11/22) */ We have attempted to contact Mr. ***** several times to resolve this issue. We would like the opportunity to resolve this issue. We would also like the opportunity to gain your trust as your financial partner. Please contact me at your earliest convivence.

• Initial Complaint

  09/27/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On Friday, 9/23/2022, I wrote a check for $*** and deposited it into a *********** account that I thought was my son's joint account with his wife. Within 10 minutes of doing this, my son called me and told me that I had deposited the check into the wrong account and asked that I put a stop-payment on the check as soon as possible. I immediately went over to the branch on **************** in ************ and asked them to put a Stop Payment on the $*** check. The person I spoke with (ended up being the branch manager) confirmed that the check had not yet processed through my Cobalt account, so she said there'd be no problem stopping payment on it. She repeated the check information back to me (check#, amount, who it was made out to, etc.) several times to confirm the information was correct, and then I was charged the $** for this service. Since that day, I checked my account daily, just to ensure the check wouldn't clear. This morning (9/27/2022) I checked the account and saw that the check that was supposed to be stopped was actually processed and cleared yesterday, 9/26/2022. By doing so, this put my account into the negative and automatically subjected me to a $** NSF Fee. I called the 1-800 CS line and the person I spoke with told me that the check had cleared because the check number that had been keyed into the Stop Payment had been keyed incorrectly. He also said that the only person who could address the issue was the person who keyed the Stop Payment at the branch I had been at (on ***********). So I went there right away to speak with them. When I got there, I spoke with Mary Lou. She wasn't the one who I originally dealt with on the Stop Payment on Friday (the manager), but she said the best they could do was refund me the NSF Fee and MAYBE the Stop Payment Fee, but there was nothing they could do about refunding the $*** from my account, even though it was their error. The best they could do was an apology.

  

  Business response

  10/21/2022

  Business Response /* (1000, 5, 2022/10/05) */ We apologize for any inconvenience caused by this error. We have refunded the fees and followed up with the employee who input the incorrect check number into the system. We understand you trust the credit union with your financial needs. We are grateful for your membership and continued relationship with Cobalt Credit Union. Please allow us to exceed your expectations by working with us to do better. Consumer Response /* (3000, 7, 2022/10/05) */ (The consumer indicated he/she DID NOT accept the response from the business.) I would still like the return of the $*** I lost due to the employee's error. Business Response /* (4000, 9, 2022/10/12) */ We do apologize for this inconvenience but unfortunately, we cannot recall the check that was written. The check was placed into an account in which the check was made out too. We stride to provide the best member service possible and would like to continue to provide that too you for your future financial needs. Consumer Response /* (4200, 11, 2022/10/13) */ (The consumer indicated he/she DID NOT accept the response from the business.) I've had little but trouble with this branch, often costing me money - or making statements that were later found as untrue. This last mistake of theirs cost me $*** and they propose no real solution other than "I'm sorry" and considering it a favor that they don't charge me the fees they initially imposed - fees that were caused solely by their mistake. In truth, they proposed no solution other than "I'm sorry", so there's really no solution to accept. For my part, the true solution is to find another entity that will act with integrity and treat my money as if it were their own. Cobalt has proven repeatedly that is not that institution.

• Initial Complaint

  08/24/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I set my loan up for payment through automatic funds. Due to colbalt's error a payment was not withdrawn. 2 weeks and 15 separate phone calls and no one could explain why this happened or fix it. To make things worse Cobalt reported the late payment on my credit report and won't do anything to correct that even though it was its error.

  

  Business response

  09/27/2022

  Business Response /* (1000, 10, 2022/09/14) */ We have contacted our vendor and cannot conclude why our member's account was affected. We can see where preauthorized payments we set up and 2 were successfully applied once the loan was funded. Then, the payments stopped. Not long after, we were contacted by our member and research of the account concluded a new setup of the preauthorized payment needed to be done. Late fees were waived and the reoccurring payments started again. The new set up does not involve the vendor and goes directly through the credit union. The issue will not happen again and a case has been opened to ensure it does not with any other members going forward. We have retracted the late reporting from the credit bureaus. It will take up to 30 days for a full cycle to adjust reporting, but it has been submitted. We are apologetic and disappointed this happened, but are also doing our best to be sure it does not occur again with any of our trusting members. Please accept our sincerest regrets that this happened and know preventative work is being done. Should you need anything, please let me know! Thank you, Keli Consumer Response /* (3000, 12, 2022/09/14) */ (The consumer indicated he/she DID NOT accept the response from the business.) I appreciate that Cobalt is finally doing what they should have done earlier but it took over a month and at least 15 calls talking to numerous people who said they would look into the issue and call be back and then didn't. A number of the reps I talked to were *********, especially Javier in collections who basically told me it was my fault and then hung up on me. They try to blame the "vendor" but all my contact was with Cobalt so this is just shifting the blame.

• Initial Complaint

  03/17/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Said I missed payments one month, because my Automatic withdrawal was changed. A few months later they charged me multiple times in one month automatically for "missed payments". Basically they ******* up my automatic withdrawal I missed payments because of it and then they charge me multiple times in one month when "my automatic withdrawal wasn't working correctly". This was reported to my credit report which was ridiculous because it was not my fault. When I called the bank to try to have my credit report cleared up they told me there was nothing they could do. Even after I paid off the loan early.

  

  Business response

  04/13/2022

  Business Response /* (1000, 5, 2022/03/18) */ Mr. *********, Due to the nature of this correspondence and financial privacy issues, we are unable to submit the details of our findings on the BBB website. Per your conversation with ************** on 3/17/2022, we are required to report accurate information to the credit bureaus. Cobalt believes we have reported accurate information regarding your pay history. We have mailed you a hard copy of your payments history. If you believe the information is inaccurate, please contact the ************** Department at **************. Respectfully, ************** Department

• Initial Complaint

  12/31/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Here is my issue. They kept sending me letters that I don't have auto insurance and my *************** agent has it three times, and I have also personally taken the insurance information to the bank and today I got a letter stating I don't have auto insurance and there going to add Collateral insurance to my loan. I'd like to know what my right are and if I could get an attorney involved and I'm filing a complaint with the state of ******** as well. Thank you.

  

  Business response

  01/20/2022

  Business Response /* (1000, 5, 2022/01/14) */ Mr. **********, Due to the nature of this correspondence and financial privacy issues, we are unable to submit the details of our findings on the BBB website. Per your conversation with ************** on 12/31/2021, we have resolved the issue with ******, our CPI vendor. Our records do show that adequate proof of insurance was received from ************************* and reported to ******. The CPI issue has been resolved. If you have any further questions, feel free to contact our ************** Department at **************. Consumer Response /* (2000, 7, 2022/01/18) */ (The consumer indicated he/she ACCEPTED the response from the business.) They called twice after the problem was solved and I haven't received anymore messages, calls, or letters. So thank you for fixing the error and thank you bbb for helping as well.

• Initial Complaint

  09/24/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The overdraft fees at cobalt bank are excessive I've been with them since they were sac and I've been having a hard time due to the pandemic. I contacted them for help with reconsidering the fees and was offered no solutions or any real care at all about my situation Instead I was told they were going to transfer me to collections since I couldn't provide payment that day to make account current just making my situation even worse I've lost hundreds to them just trying to pay my bills during this hard time.

  

  Business response

  10/18/2021

  Business Response /* (1000, 5, 2021/09/28) */ Mr. ****, The fees assessed to your account are consistent with the transactions you authorized the credit union to process. If you have fallen under a circumstance that has caused your situation to become challenging to keep up with financially, we have people who can help. Please call me at ************ and I would be happy to assist. Thank you, Keli

• Initial Complaint

  08/31/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They closed my account and said there was a charge off on my account and I had *$ in my account and I never seen a negative charge or nor did they send me a letter saying they are closing my account or a letter saying hey ur negative get it fixed

  

  Business response

  10/04/2021

  Business Response /* (1000, 5, 2021/09/01) */ Mr. ********, Your account was not charged off. You funds were used to settle the balance of another account your joint owner owed. The credit union has the right to do so without further notice to you. If you have any additional questions or concerns, you may contact me. Thank you, Keli Consumer Response /* (3000, 7, 2021/09/02) */ (The consumer indicated he/she DID NOT accept the response from the business.) It's not my responsibility to pay someone else's ******* you go after that said person futher more why is her account still open to allow this to happen me n her was told it was closed so there for u are responsible to not let this happen Business Response /* (4000, 11, 2021/09/17) */ Mr. ********, Ownership of a joint account is both party's responsibility. The account has been satisfied and is closed. If you have any additional questions or concerns, you may contact me. Thank you, Keli

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩