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Review from Debra W
1 star04/25/2024
I contacted SSFCU after receiving a letter stating I had joint ownership of a checking and savings account and the other party was seeking to remove my name from the account. This account had been opened by a close relative and due to a chronic illness, my Social Security and retirement had been deposited into that account. After going through a divorce, I requested the money but was told that there was no funds available. Realizing where the funds had been deposited I communicated with SSFCU to find out if I could make a withdrawal and they assured me I could and advised me of what their process was. I presented on person with all the necessary documents and made a legal transaction involving withdrawal of my money. They issued me 3 cashier's checks and a small amount of cash totaling over $91,000. About 2 days later SSFCU put a stop payment on the checks. I spoke at length with the manager, ***************************************, who never gave me a valid reason for stopping payment on my checks. She did mention my relative and advised me to get an attorney to bring charges against her. I at no time mentioned a conflict with a relative. I followed their policy and procedure to make a withdrawal but they breached their contract and reversed their policy. This is also banking malpractice and exploiting a disabled person.Review from Ulonda C
1 star04/04/2022
I been Sourthern Security Federal Credit Union over 10 years and I went in 03-22-22 to find out what's my account information and I was so surprised. The SSFCU went into my account and up my overdrafts fee to $2000 without know notice, email or anything. I signed for overdraft in 2004 now 2022 you fraudulent just made this decision without me to opt out. When I did have overdraft you decline it but now you illegal decided you did this on my account because of my deposits so now SSFCU counting my money but this suppose to be bank I can make deposits of how much I want too. I feel my account was fraudulent touch because if I need something at bank I have to sign paperwork and plus I have security code. This is a issue for me and I'm not pleased with this happened you was not authorized to do so and for supervisor to tell me it just went into affect that Tuesday so no legal paper to sign but you just fraudulent assume to do it. SSFCU still have $500 overdraft on the site when you sign up for it. SSFCU you are responsible for forging my paperwork for this increase without member knowledge. SSFCU you take care of this and I want bank with bank who fraudulent or scam members in this pandemic to keep you all open I look stupid to give y'all $2000 in overdrafts to make y'all rich everybody feeling the pandemic as well. SSFCU stand by your policy
Southern Security Federal Credit Union Response
04/12/2022
Ms. C*******,
We sincerely apologize for any confusion this has caused. Our Overdraft Protection program has been revised in order to assist our members by helping them to avoid fees from other companies when funds are not available in the checking account when an item tries to post.
The overdraft protection program that you opted in to use does not specify an amount of the overdraft program. The following is the language in the application that you signed to opt in.
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
1. We have standard overdraft practices that come with your account.
2. We also offer an overdraft protection plan, a link to your savings account, which is free.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
• Checks and other transactions made using your checking account number
• Automatic bill payments (does not include My CU Bill Pay)
We will not authorize and pay overdrafts for the following type of transactions unless you ask us to by opting in to Overdraft Security:
• ATM transactions
• Every day debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Southern Security pays my overdraft?
Under our standard overdraft practices:
• We will charge you a fee of up to $33 each time we pay an overdraft.
• There is no limit on the total fees we can charge you for overdrawing your account.
As a courtesy, we have refunded your account $429.00 for fees charged to your account for overdrawing your account. We also have opted you out of Overdraft Protection services so you no longer will have any transactions to clear your account if you do not have funds available.
Documentation about the programs is attached as well as available via our website at ************************.
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