ComplaintsforCoastLife Credit Union

• Initial Complaint

  10/27/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Oct.12 2023 I received charge on my loan of $240.00 for Financed Disbursement/CPI Insurance.I have full coverage on the vehicle from the inception of the loan until today.In August 2022,Travelers Insurance sent a copy of declarations page to:COASTLIFE CREDIT UNION **************************************************************************** This document stated policy had renewed and vehicle was covered from 09 2022 to 09 2023 In August 2023,Travelers Insurance sent a copy of declarations page to:COASTLIFE CREDIT UNION ***************************************************************************** This showed policy had renewed and vehicle was covered from 09 2023 to 09 **** On October25,I went to the branch at:******************************************************************** I spoke with teller *************************** to inquire about the $240.00 charge.She asked for the declaration pages again that were received in August 2023.I sent them to her via email and she stated she will update declarations page on my account and the charge will be removed in 72 hours.On October27,2023 I viewed my Coastlife Credit Union Account, and noticed only $80 was refunded to the account.I again went to branch at:*************************************************************************** I again spoke with teller ***************************. She informed me she got an email stating documents proved I did not have coverage from July,2023 to September2023.However,declaration pages received August2022,August 2023,October25 2023 all show coverage from ***** to 09-24.I informed ****** that the documents proved otherwise and this is clearly fraud.She then directed me to ************************She called accounting office.This individual also stated these documents show no coverage from July2023 to September2023.I informed her they do, and I will be forced to take legal actions as this is a scheme to incur additional funds from customers. She stated that is not the case and it is my responsibility to supply the documents proving coverage.Again these documents were received August2022,August2023,October25 2023,andOctober27 2023.

  Business response

  11/01/2023

  ********************** loan requires insurance on the collateral. Any time there is a change to the policy which may affect our collateral, the financial institution is notified that way there is no lapse in coverage for the collateral. Our loan agreement states that insurance is required and if removed or changed, the financial institution has the right to add collateral protection insurance to the loan. ****************** provided his proof of coverage on 10/27/2023 and this information was reviewed, and a full refund has been awarded to ****************** along with any accrued interest due to the addition of collateral protection insurance. Our Chief Lending Officer responded to his request on 10/27/23 acknowledging receipt of his email at 12:01pm. 

  Customer response

  11/02/2023

  Complaint: 20791070
  
  I am rejecting this response because:

  Still have not received interest payments as of 11-2-23.  Documents proving I had insurance were sent August 2023.  Those documents were misinterpreted (intentional or not, audit will clarify) to show I had no insurance and thus charged the $240 fee for CPI.  The EXACT SAME DOCUMENT, was given 10-25-23.  Response to that was only a $80 refund saying it still showed I had no insurance.  EXACT SAME DOCUMENT sent again ***** with the credible threat of serious fines including jail time finally led to refund, however, I still have not received interest charged back.  As per our contract of the loan, the trailer is collateral for unpaid depts.  If I do not receive the funds you illegal took, I will be forced have the title to the trailer signed to me and the loan be dissolved per our contract for unpaid depts.  

  
  Regards,
  
  ***********************

  Business response

  11/15/2023

  ****************** has been credited the full amount as of 11/1/2023 and the interest adjustment was credited on 11/9/2023 (effective dated to 10/24/2023).  If ****************** will log into his online banking he will see these transactions.  Otherwise, they will be seen on his next statement.

  Customer response

  11/21/2023

  Complaint: 20791070
  
  I am rejecting this response because:
  

  Coastlife reversed my payment of $200.00 on Nov 9, then reapplied it as principal $185.55 and interest $14.45, however the $14.45 interest did not apply to loan.  Furthermore I am now showing I owe a balance of $118.04 for November even though i have paid $400.00 in November and monthly payment is only $318.04.  I need this corrected ASAP and still need interest credited to loan amount.

  
  Regards,
  
  ***********************

  Business response

  12/08/2023

  The loan was adjusted to reflect the interest rate adjustment the member requested due to the insurance that was added.  The interest number referenced in this response was the adjusted interest number.  It would not be applied to the loan because it was interest.  It would have satisfied the accrued interest.  The due date was corrected and is reflecting accurate.  When the employee reversed the payment to adjust for the interest, the computer system adjusted the due date back also.  This has been taken care of by our staff.

• Initial Complaint

  01/03/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I applied online for a **** loan to consolidated debt. I was approved and contacted by a *************************** representing CASHNET USA. It turned out to be a scam and he made 2 fraudulent checks for ******** using my information. Although, I was scammed and I did not get a loan Coastlife Credit Union is holding me responsible for ******** and closed my bank account of 5 years. While the scam was being reviewed ******** sent me ******. I tried to cancel it but I wasn't able to before it went into my account. I told ******** I did not want the loan and I would sent the money back . I also informed them I no longer had a bank account at CoastLife Credit Union. CoastLife Credit Union is refusing to release the money to ********. I have talked to several of the employees at that branch and the Trojan branch asking for help with this matter. They refuse to send the money back to ********. I did not use the money, and it is not my money. ******** expected to receive it on December 23rd. I have explained to them this is unethical and illegal to withhold the money from ********. Today I tried again to have them release the money and after waiting for help I was transferred to a **** who wasn't there to help. There is no reason for this bank to treat me or ******** in such an unprofessional manner.I would not recommend CoastLife Credit Union to anyone.

  Business response

  02/03/2023

  Our, CEO, *********************, reviewed the issue and the attached letter has been composed by her.  Please let us know if you have any further questions.
  
  Thank you,
  
  ************************;
  Executive Administrative Assistant 
  CoastLife Credit Union
  6810 *************. **************, ** 78414
  ***********************
  

  
  

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