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Complaint Details
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Initial Complaint
09/09/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
When setting up the app on my phone to make monthly payments on a vehicle loan I was told I could also set up a recurring payment for an extra amount to go directly to principal. Now I see only a portion of that amount is going towards the principal, interest is being paid from it as well. I followed the directions of Canopy Credit Unions employee and yet now they say it is not possible for the app to take it out that way. I want to voice this for myself and other seniors out there that may be doing this and not know how they are being treated.
Business response
09/20/2024
September 20, 2024
Dear Mr. ****************** apologize you have encountered frustrations with our On-line Banking platforms inability to set up reoccurring payments for principal only on your mortgage. Im also sorry you were mistakenly told that the platform could perform a reoccurring payment for principal only.
My understanding is that when you spoke to *******, the Director of Digital Experience, over the phone, she also apologized for your frustration and her team misinforming you. She explained that we would work with our app developer to see if they can write the code to accommodate a reoccurring, principal only payment. We indeed have been in communication with the developer to see what we can do to resolve this. We also are working with our team to better educate them on what On-line banking can and can not do so no misunderstandings occur in the future.
I want to assure you that we want to resolve this issue. I understand your frustration. To help me resolve this same issue until a technology fix can be done, is to set up an appointment reminder on my phone that reminds me to go into On-line banking and do a one time transfer to go toward principal only. Its not as easy as set it and forget itbut it is a fairly easy work around.********* *****
Initial Complaint
07/10/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
On May 16, 2024, I noticed a hard inquiry on my TransUnion credit report from Canopy Credit Union that I did not authorize, nor did I give them permission to access my credit report.I contacted Canopy Credit Union to resolve this matter, but I have not received a satisfactory response or proof of a signed contract. This unauthorized hard inquiry has negatively impacted my credit score, and I am seeking the immediate removal of this inquiry from my TransUnion report.Business response
07/24/2024
Thank you for bringing your concern to our attention. We sincerely apologize for any inconvenience this matter may have caused you.Please find below a summary of our investigation and the steps we will take to resolve this issue:
Investigation Summary:
1.Application Verification:
Our records indicate that an application for a 2024 Kawasaki EX500JRFAl Ninja 500 SE was submitted on May 16, 2024, at 9:54 AM. The application number associated with this submission is 27647. In the application the applicant is specifically asked to check a box indicating they understand and agree to have credit pulled. This is what that looks like in the application:
Attached is the completed loan application that the loan officer ************** On page 5, the highlighted portion indicates the applicant did indeed check the box and agree to have his credit pulled.
On the same day, our team member, ****, sent an email at 3:02 PM to provide information about the application and asking for some additional information in order to move the application forward. Additionally, an outgoing phone call was made on May 20, 2024, to follow up on the application.
Furthermore, an Adverse Action letter was sent on May 31,2024 to the applicant, detailing the status of your application. The letter is attached.
2. Credit Inquiry Protocol:
A hard credit inquiry is a standard procedure conducted as part of our loan application process to evaluate the applicants creditworthiness. This inquiry requires the applicant's consent, which is obtained during the application submission.3. Contact History:
May 23, 2024: You called our main Canopy Credit Union phone line, but the call lasted only 37 seconds and no contact was made with an agent.
June 23, 2024: Your call was routed to ****'s phone.Unfortunately, **** was not available at the time, and no voicemail was left for her to return your call.
July 9, 2024: You spoke with our representative, *******************, during this 16-minute call, you acknowledged that you did authorize the hard inquiry but expressed concerns that we did not attempt to process your loan. Bea reviewed your application and confirmed the presence of the credit inquiry. The attached transcript of that conversation is attached
*** explained that the credit inquiry is part of our loan application terms and conditions, which unfortunately cannot be removed once processed. She also clarified that the inquiry would remain on your credit report.
Summary:
The credit authorization listed on our website states:"By submitting this request, you authorize the Credit Union to obtain credit reports in connection with this request for credit and for any update,increase, renewal, extension, or collection of the credit received. You understand that the Credit Union will rely on information in this request and your credit report to make its decision. When applicable, spousal information may be requested as a part of this request. If you request, the Credit Union will tell you the name and address of any credit bureau from which it received a credit report on you. It is a crime to willfully and deliberately provide incomplete or incorrect information in this request. By checking the box(es)below and submitting this request, all parties named below are agreeing to the terms, conditions, and disclosures associated with this request."
We assure you that a credit inquiry is conducted only with the applicant's consent, as acknowledged in the credit authorization statement.Based on the evidence provided, including the submitted application, email correspondence, phone call attempts, and the Adverse Action letter, we have determined that the credit inquiry was conducted appropriately and with consent.
Therefore, we regret to inform you that we are unable to remove the hard inquiry from your credit report.
We understand your concerns regarding the impact of this inquiry on your credit score. Should you have any further questions or require additional clarification, we recommend contacting *************************, Operation Director directly to discuss this matter in more detail. Cordean can be reached directly at ************.Canopy Credit Union
Customer response
07/25/2024
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.Initial Complaint
06/22/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I have been paying my bill for a year and the total had not changed at all from day one for financing a carBusiness response
06/23/2023
We have not been able to find the name ******************************* in our data base. I'm wondering if this person has the wrong credit union?
If there is a different name the account could be under, we'd need to know that information and would be happy to address his concerns.
Thank you,
*****************************, President/CEO
Customer response
06/23/2023
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.
Sincerely,
*******************************
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Contact Information
Customer Complaints Summary
3 total complaints in the last 3 years.
2 complaints closed in the last 12 months.