ComplaintsforFivePoint Credit Union

• Initial Complaint

  09/03/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  While experiencing financial hardships due to events out of our control, unexpected expenses and illness we fell behind on an auto loan. This past Wednesday, ****** sent me a text and said that 2 payments would have to be made by Friday. I explained that payday wouldnt be until the following Friday, which she didnt care. There was no assistance provided even with being transparent about everything thats happened that led to us struggling. So Friday at 1:30pm the repo man comes and states he is here to get the vehicle. I showed him the text from ****** where she told me by 5pm so he called her. Well, she obviously changed her mind yet failed to communicate that with me. So now I have learned that they have frozen the account i opened as my sons representative payee for his social security checks. The funds that are deposited into that account by the government do not belong to me so now its a holiday weekend and my son who has zero involvement with the auto loan is without any money. I will be contacting an attorney Tuesday to discuss as I do not believe what they did is legal.

  Business response

  09/12/2024

  5Point has completed a thorough investigation into member's complaint regarding both the repossession of the 2020 ***** CX-5 and the deposit account where the members sons social security funds were previously deposited. The vehicle referenced above was placed out for repossession on 8/30/2024 due to account status and no firm commitment to cure delinquency from member. At this time,the loan in question was severely past due and all recent payments made were returned. Member was made aware that waiting until the following week for any form of payment was unacceptable and the decision was made to repossess the unit. In regard to the social security funds for members son and the deposit account member is referring to, there was a simple misunderstanding, and the member acknowledged the misunderstanding on 9/3/2024 when she spoke with the Collection Manager. The deposit account was closed due to negative status for over 45 days on 8/20/2024. Member was instructed to contact the social security office to receive the funds through an alternative source. The Credit Union did not receive these funds, nor did the Credit Union hold these funds from member's access.

  The Credit Union does wish to resolve any issues with member and would agree to work out arrangements with the member that make sense for both the Credit Union and the members. 

• Initial Complaint

  06/06/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  My fathers name is ********************** and he is ill and incapacitated advance dementia, he is also a member of the Five Point Credit Union .At this time I have a Debit Card that is connected to his Checking Account , that is in my name. Sadly speaking the Five Point Credit Union will not allow me access to his account on-line . Also my mother is on his account as well and she has capacity to think and make decisions effectively.In my opinion this is extremely unfair to me, because when I need to obtain his account information I have drive to ************ which is 20 miles from home and I also pay the Credit Union for any printed Account Statements. Me and mother need to have access to his account on-line. Can the BBB help with this matter ?

  Business response

  06/11/2024

  Please see attached business response.

• Initial Complaint

  09/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The creditor has provided incorrect information on my credit report. I've reached out to both the *** and the creditor to address this issue. It's important to note that continuing to report a charge-off on a consumer's credit report after it has been written off is against the law.The creditor has already discharged the debt and received a tax write-off for it, yet they are still reporting it on my credit report as a charge-off and attempting to collect it. This behavior may constitute tax fraud.I insist that this account be removed from my credit report, and I want to emphasize that if I do not receive a response from them, I will consider pursuing legal action.

  Business response

  09/21/2023

  FivePoint Credit Union has the right by federal law (specifically Fair Credit Reporting Act) to report account status to the ********************** bureaus; the credit union is also required by law to report loan status accurately. The Credit Union has completed a thorough investigation into our members complaint regarding credit reporting accuracy and we have concluded all information being reported to the credit bureaus to be correct.

  FivePoint Credit Union has also completed investigation into allegations of the debt being discharged and the credit union to be committing tax fraud; the credit union finds the allegations to be erroneous. Charging off a non-performing loan is simply an accounting function most financial institutions utilize in adherence to policies set. This action does not absolve the member from owing the debt.

  While the Credit Union cannot act as requested by removing or deleting information from *********** or submitting a ****-C form to the **** we would like to help the member alleviate any frustrations the actions taken may have caused. The Credit Union is prepared to discuss all possible solutions that would be suitable for both the member and the credit union. 

*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. ↩