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ELFCU - Rebuilder Friendly Credit Union Master Thread


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I got my ELFCU card that I was told was approved at $5,000 in the mail with a $500 limit.

 

I am closing my ELFCU accounts, all of them as soon as the money is transferred out.

 

Those pesky zeroes... always breaking our hearts.

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I got my ELFCU card that I was told was approved at $5,000 in the mail with a $500 limit.

 

I am closing my ELFCU accounts, all of them as soon as the money is transferred out.

 

Those pesky zeroes... always breaking our hearts.

 

$500 is my lowest limit by $1.5k. My Kohls card has a higher limit!!!!

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I'm thinking we can safely call this the "CB Backlash" now. I have a sneaking suspicion that they are looking at newer members based on date and giving them very low limits, despite their credit worthiness and initial approvals (that is if they are approved at all). I have a feeling they never wanted all of this attention or sudden influx in memberships or loan applications. It's shame, but it is what it is, and it's their CU.

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I think I'm gonna close my ELF accounts. :(

 

I didn't apply for anything but I guess I'm glad I didn't. For those of you that closed your accounts, did you just fax a letter in? I was looking for their fax number but I couldn't find it... :(

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I have the ELFCU mobile app on my phone. My initial plan was to deposit $44 a month with it. And this speaks to a larger question: I have had PSECU since early 2011, if not late 2010 (I forget.) I have just shy of $100 in it. I am making regular monthly deposits, starting last month. So I have PSECU that I am in.. I want the PSECU 10/10 or 20/20 combo. Now.. IF I start actually banking with both of these CUs (AFAIK i do not have checks with ELFCU just the debit card) BUT establishing positive history with ELFCU.. Well, can I then get a Secured CC with ELFCU and use it for positive history so when 2013 comes ill have positive credit history AND positive PSECU history?

 

1. It is past May 20th. How are the ELFCU Secured CCs looking?

 

2. EZ LOCs do NOT help FICO, correct?

 

3. Is at least $44 a month deposited into the Think Big checking good, or good enough, for a "positive history" with ELFCU?

 

Now that all the excitement and easy-in fun and lightheartedness has worn off, I ask myself this about the "Andrea 2" as ELFCU has been called another Andrews FCU. :unsure:

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rslifkin,

 

1. I don't know

2. Overdraft LOC might help your FICO score.

3. It might/might not. It depends how they look at it.

 

Andrews FCU is not chexsystem friendly. They are very conservative. They used Andrea to SP to offer credit card pre-approval after 10 months if you have good credit history. I don't have too much luck with them. I only got $500 CL CC and $1000 overdraft LOC.

 

 

badge-excellent-m.png

 

 

Ron.

Edited by Ron1
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I think I'm gonna close my ELF accounts. :(

 

I didn't apply for anything but I guess I'm glad I didn't. For those of you that closed your accounts, did you just fax a letter in? I was looking for their fax number but I couldn't find it... :(

 

Not sure about fax. But I just mailed a letter to cancel/close my accounts. Looks like they already did since I can no longer access my online banking with them.

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Welllllll, that was easy. A little TOO easy. Not so much "great customer service" happening when you are ditching them.

 

 

Her

Welcome to Live Chat, my name is XXX. How may I assist you today?

 

Me

I would like to begin the process of closing my account with the credit union please

 

Her

I would be happy to assist you. Would you be able to verify the member number and the security word on your account?

 

Me

redacted

 

Her

Great, thank you. I can close your account today but that would also be closing the line of credit. Would you like me to go forward?

 

Me

yes

 

Her

Thank you, your account has been closed. May I help you with anything else today?

 

Me

so, how do i get my $5 from my share savings back?

 

Her

You will receive a check in the mail.

 

Me

and you closed my credit card with a laughable $500 limit correct?

 

Her

I will submit a request to our Credit Card manager to have the card closed as well

 

Me

bye!

Edited by jthedges
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I'm thinking we can safely call this the "CB Backlash" now. I have a sneaking suspicion that they are looking at newer members based on date and giving them very low limits, despite their credit worthiness and initial approvals (that is if they are approved at all). I have a feeling they never wanted all of this attention or sudden influx in memberships or loan applications. It's shame, but it is what it is, and it's their CU.

 

Yes it's unfortunate. But we've seen this time and time again with small CU's. They don't have the capacity to handle a sudden influx of memberships and they go into audit mode.

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  • 1 year later...

 

I'm thinking we can safely call this the "CB Backlash" now. I have a sneaking suspicion that they are looking at newer members based on date and giving them very low limits, despite their credit worthiness and initial approvals (that is if they are approved at all). I have a feeling they never wanted all of this attention or sudden influx in memberships or loan applications. It's shame, but it is what it is, and it's their CU.

Yes it's unfortunate. But we've seen this time and time again with small CU's. They don't have the capacity to handle a sudden influx of memberships and they go into audit mode.

 

 

Posted on my birthday last year. Well done! :)

 

So! How is ELFCU doing nowadays?

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  • 3 months later...

 

 

I'm thinking we can safely call this the "CB Backlash" now. I have a sneaking suspicion that they are looking at newer members based on date and giving them very low limits, despite their credit worthiness and initial approvals (that is if they are approved at all). I have a feeling they never wanted all of this attention or sudden influx in memberships or loan applications. It's shame, but it is what it is, and it's their CU.

Yes it's unfortunate. But we've seen this time and time again with small CU's. They don't have the capacity to handle a sudden influx of memberships and they go into audit mode.

 

 

Posted on my birthday last year. Well done! :)

 

So! How is ELFCU doing nowadays?

 

I'm curious as well! Lol. I know this is a little bit off topic but, those hard pulls these CU's are doing to approve us for membership are really unfair as we are not applying for a credit product yet when other lenders see that, it's counted as we are applying for credit.

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  • 1 year later...

 

 

I'm thinking we can safely call this the "CB Backlash" now. I have a sneaking suspicion that they are looking at newer members based on date and giving them very low limits, despite their credit worthiness and initial approvals (that is if they are approved at all). I have a feeling they never wanted all of this attention or sudden influx in memberships or loan applications. It's shame, but it is what it is, and it's their CU.

Yes it's unfortunate. But we've seen this time and time again with small CU's. They don't have the capacity to handle a sudden influx of memberships and they go into audit mode.

 

 

Posted on my birthday last year. Well done! :)

 

So! How is ELFCU doing nowadays?

 

they are just as miserable as ever

i was denied for credit for being Egyptian and bk (3 years out)

they never did call to fund savings so it opened with a negative balance

i called them when statement arrived with negative balance and closed it the same day

"elements fcu

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