ComplaintsforOtero Federal Credit Union

• Initial Complaint

  11/20/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  According to otero federal credit union if you make a deposit before 2 p.m. then you will have your funds that same day. Whereas, if you deposit a check after 2 p.m. then it won't be ready until the next business day. We'll I deposited my paycheck November 17th 2023 and as I am typing this I still have yet to receive my paycheck. I had no money over the weekend and still waiting for my funds and right now it is Monday 1:30 p.m. and still have no money. This has happened more than once. I called and even the employee that answered stated I should have had my money and didn't understand why I still had no funds and said she will call and find out why and try to get my money released to me. I am still waiting. I have an appointment with another bank to open a different account but I need money to open my new bank account because I am tired going through this with Otero federal credit union. Plus my loans are too hard and difficult to get from this bank. I have to go outside of my bank to get loans in just minutes from other businesses. I have been banking with otero federal credit union for approximately 30 years. Also I had a credit card through them and my balance for then continues to stay a low balance. So I paid it off and refuse to use their credit card. I'm just tired of being treated horrible from this bank. So I need to close my account as soon as possible. It's gonna take me some time to move all my direct deposits moved to a different bank as soon as otero federal credit union will give me back my money to open a new account elsewhere.

  Business response

  12/04/2023

  On 11/20/23m, Ms. ***** also submitted an online review for the same issue.  One of managers reached out to her to resolve the issue on the same day.  During the phone call, we explained that checks deposited through the ATM are automically placed on a 2 day hold as disclosed at the machine and on the receipt at the time of the transaction.  Ms. ***** was also advised on how to avoid having a hold placed on payroll checks by making a deposit with a staff member or settting up a direct deposit.  She incidcated she was satified with the information provided, and since the funds were already released at the time of the call, we consider the matter resolved.

  Customer response

  12/06/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau®:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ******** *****

*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. ↩