Complaints

• Initial Complaint

  11/30/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  The people today 11/30 took my payment from work I'm homeless and unhoused and need money to pay rent and they stole 244+77 from me in two weeks of me working and deactivated my debit card.

  Customer response

  11/30/2023

  The bank stole money from me i am homeless just started working i earned 243$ last week 77$ This week. the bank took it upon themselves to lock my account for two weeks and not reach out or unlock my account. they took my 320$ and then deactivated my debit account. the bank stole 320$ from me. i reported them to the police and the CASENUMBER on behalf of Austin Police Department for temporary report number:  ******* and **************
  consumerfinance.gov Weve received your complaint. Well send you updates about your complaint along the way, but you can track the status of your complaint at any time on your Consumer Portal. COMPLAINT ID *************** the *** said to report theft at that website. 

  Business response

  12/12/2023

  December 12, 2023
  Dear ***********************************,
  We are sorry to hear about your situation but thank you for the opportunity to review this matter. We take the matter seriously and transaction accuracy is key to our daily effort in serving members.   
  

  The transaction in question has been reviewed along with the supporting documentation.  On 11/30/2023 your funds in the amount of $322.82 were applied towards your delinquent signature loan which was in the process of being charged-off for non-payment.  As of 11/30/2023, payments had not been received since 05/10/2023.  The principal balance of the signature loan was $6,628.30.  A final loan demand letter was mailed to you on 10/24/2023.  Many attempts via email,texts, letters, and phone calls had been made to discuss the loan.
  

  On 11/30/2023, our VP of Lending attempted to explain to you via a phone conversation that those funds would be applied to the loan in default per the cross-collateral provisions listed on the Loan and Security Agreements and Disclosure Statement that you signed on 12/22/2022.  Please reference this document and the following sections for further clarification:
  

  Sections under Loan Agreement (page 2 of 5)
  

  4. SECURITY FOR LOAN - This Agreement is secured by all property described in the "Security" section of the Truth in Lending Disclosure. Property securing other loans You have with Us also secures this loan, unless the property is a dwelling or otherwise prohibited by federal and/or state law. In addition to Your pledge of shares, We *** also have what is known as a statutory lien on all individual and joint accounts You have with Us. A statutory lien means We have the right under federal and/or state law to claim an interest in Your accounts. Unless otherwise prohibited by federal and/or state law, We can enforce a statutory lien against Your shares and dividends and, if any, interest and deposits, in all individual and joint accounts You have with Us to satisfy any outstanding financial obligation that is due and payable to Us. We *** exercise Our right to enforce this lien without further notice to You, to the extent permitted by law. For all borrowers: You pledge as security for this loan all shares and dividends and,if any, all deposits and interest in all joint and individual accounts You have with the Credit Union now and in the future. The statutory lien and/or Your pledge will allow Us to apply the funds in Your account(s) to what You owe when You are in default. If a dollar amount and account number are listed in the "Security" section of the Truth in Lending Disclosure, You *** not withdraw the amount that has been specifically pledged to secure this loan until the Credit Union agrees to release all or part of the pledged amount. The statutory lien and Your pledge do not apply to any Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if given as security.
  

  5. DEFAULT - You will be in default under this Agreement if You do not make a payment of the amount required on or before the date it is due. You will be in default if You break any promise You made in connection with this loan or if anyone is in default under any security agreement made in connection with this Agreement. You will be in default if You die, file for bankruptcy, become insolvent (that is, unable to pay Your bills and loans as they become due), or if You made any false or misleading statements in Your loan application. You will also be in default if something happens that We believe *** seriously affect Your ability to repay what You owe under this Agreement or if You are in default under any other loan agreement You have with Us.
  Again, we appreciate the opportunity to further review this transaction for you.  If you would like to discuss this matter more in-depth, please contact our office. 
  

  Thank you,
  ***************************
  President / CEO 

  Customer response

  12/12/2023

  Complaint: 20939574
  
  I am rejecting this response because: I've contacted them and let them know my situation and they still didn't say anything before taking money from me in a critical moment in my life to get out of homelessness.
  
  Regards,
  
  *******************************

  Business response

  12/20/2023

  December 20, 2023
  

  Dear ***********************************,
  

  We appreciate the opportunity to further review this transaction for you.  The transaction in question has been reviewed along with the supporting documentation and we have determined we are not able to return your funds in the amount of $322.82.  These funds were applied towards your delinquent signature loan which was in default. Funds in your account were applied to the loan in default per the cross-collateral provisions listed on the Loan and Security Agreements and Disclosure Statement that you signed on 12/22/2022.  Please reference your loan documents and the pertaining sections for further clarification.
  

  If you would like to discuss this matter more in-depth or need copies of your loan records, please contact our office. 
  

  Thank you,
  ***************************
  President / CEO 

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