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IvyMgmt

Credit Union Investigation

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Back in November / December I applied for a car loan with a local credit union the application was denied and a letter was received. I moved on and got a car with someone else, the account with the CU was never closed and it sat with $5.00 in it.. I left and forgot about it.

 

On Saturday I received this certified letter from the CU regarding this and the letter says as follows: "I have received a detailed report alleging that you have committed inappropriate actions against said credit union relating to a recent loan application. An investigation was conducted, and the Board of Directors of said credit union has determined that the report is accurate. Based on these reasons, and in accordance with said credit union's Restriction of Services and Expulsion Policy, you have been recommended for expulsion from said credit union. Expulsion would result in the closing of your share accounts and termination of all membership privileges. In accordance with the Federal Credit Union Act, a vote will be held on the recommendation for expulsion at a special meeting of said credit unions membership at the address below on May... following the Annual Meeting which will be held at 5:00 pm. You have the right to appear at the meeting, and to make a statement in your defense against your expulsion at said credit union. Alternatively, you can also close your share accounts and terminate your membership before the special meeting to avoid an expulsion vote. "

 

I am astonished to say the absolute least..

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The obvious question is did you lie on the application with regards to income or assets, history, etc.

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This is not enough information.

 

Not enough information? This is all they sent me.

 

No I did not lie on my application, when I called back to follow-up the investigation department told me that there were other peoples names on my credit report.. and when I called and got a copy NONE not NONE of that information existed..

 

I sent them pay stubs but here was an issue the business name on the paystub did not match as it is an outsourcing HR firm the consulting company does not take calls directly for work verification it goes though the worknumber.. they never asked for any further info from me to prove who I am I sent them my DL or whatever they asked of me..

The obvious question is did you lie on the application with regards to income or assets, history, etc.

 

 

No I did not I have no reason to lie.. I went other places and got approved no one never said any of this..

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

 

Yeah you know I am livid! I called the chick up on the phone and asked her how are you conducting investigations and not asking for further info? How come told me there is a further investigation AFTER a denial.. what for you denied me..

 

What I was wondering is there some kind of law that states a consumer must receive a copy of their credit report from whomever they were seeking a loan with? I do know that mortgage companies share that?

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I think the AA letter is the extent of their obligation to inform you.

 

The member expulsion vote is the only real difference between banks and credit unions. Whereas a Chase can just say "hit the bricks pal"... you have a right as a member of a credit union to be voted on.

 

Try to see this as a chance to exercise your membership rights and in the worse case scenario your have to cash in your $5 savings account.

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I think the AA letter is the extent of their obligation to inform you.

 

The member expulsion vote is the only real difference between banks and credit unions. Whereas a Chase can just say "hit the bricks pal"... you have a right as a member of a credit union to be voted on.

 

Try to see this as a chance to exercise your membership rights and in the worse case scenario your have to cash in your $5 savings account.

 

 

Thanks I was wondering if a letter to the President might make a difference.

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

 

Yeah you know I am livid! I called the chick up on the phone and asked her how are you conducting investigations and not asking for further info? How come told me there is a further investigation AFTER a denial.. what for you denied me..

 

What I was wondering is there some kind of law that states a consumer must receive a copy of their credit report from whomever they were seeking a loan with? I do know that mortgage companies share that?

 

"chick"?

 

Hopefully you avoid the misogyny in future communications with them, to include any appearances at the hearing.

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

 

Yeah you know I am livid! I called the chick up on the phone and asked her how are you conducting investigations and not asking for further info? How come told me there is a further investigation AFTER a denial.. what for you denied me..

 

What I was wondering is there some kind of law that states a consumer must receive a copy of their credit report from whomever they were seeking a loan with? I do know that mortgage companies share that?

 

"chick"?

 

Hopefully you avoid the misogyny in future communications with them, to include any appearances at the hearing.

 

 

I hope I do too..

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You should file a complaint with the CU regulator. Make them prove and document the basis for this action.

They usually have 30 days to answer and provide documentation to the regulator.

 

Clearly explain the situation step by step, and attach copies to support the complaint.

https://www.mycreditunion.gov/consumer-assistance-center/Pages/complaint-process.aspx

 

First, find out if it federally regulated, or state chartered.

https://www.mycreditunion.gov/about-credit-unions/Pages/federal-vs-privately-insured-credit-unions.aspx

Edited by tmcgill

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

and then sue the car*Admin removes vulgarity*les out of them for accusing you for something you didn't do.

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

 

Yeah you know I am livid! I called the chick up on the phone and asked her how are you conducting investigations and not asking for further info? How come told me there is a further investigation AFTER a denial.. what for you denied me..

 

What I was wondering is there some kind of law that states a consumer must receive a copy of their credit report from whomever they were seeking a loan with? I do know that mortgage companies share that?

 

"chick"?

 

Hopefully you avoid the misogyny in future communications with them, to include any appearances at the hearing.

 

 

Consider that Ivy may also be a "chick." I make blond jokes and similar comments all the time. Lighten up.

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You should file a complaint with the CU regulator. Make them prove and document the basis for this action.

They usually have 30 days to answer and provide documentation to the regulator.

 

Clearly explain the situation step by step, and attach copies to support the complaint.

https://www.mycreditunion.gov/consumer-assistance-center/Pages/complaint-process.aspx

 

First, find out if it federally regulated, or state chartered.

https://www.mycreditunion.gov/about-credit-unions/Pages/federal-vs-privately-insured-credit-unions.aspx

 

 

This is exactly what I was looking for I was not sure where to go and find this thanks a bunch!

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If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

and then sue the car*Admin removes vulgarity*les out of them for accusing you for something you didn't do.

 

 

I mean... I was livid on the phone! I am like what evidence, what investigation, this application was how many months ago and not approved and you are investigating me like I am going for a top secret security clearance.. yeah ok..

 

 

 

If it were me... I would try to make time to attend the hearing to get to the bottom of this asualt on my name.

 

Yeah you know I am livid! I called the chick up on the phone and asked her how are you conducting investigations and not asking for further info? How come told me there is a further investigation AFTER a denial.. what for you denied me..

 

What I was wondering is there some kind of law that states a consumer must receive a copy of their credit report from whomever they were seeking a loan with? I do know that mortgage companies share that?

 

"chick"?

 

Hopefully you avoid the misogyny in future communications with them, to include any appearances at the hearing.

 

 

Consider that Ivy may also be a "chick." I make blond jokes and similar comments all the time. Lighten up.

 

 

 

Heyyyyyyyyyyyyyyyyyyyyyyyyyy Breeze this would indeed be a great assumption on your part and very true.. lol Us blonds have to stick together LOL

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Care to share which CU this is?

 

Some most aren't worth the hassle when something like this happens.

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Care to share which CU this is?

a local credit union

probably a mom and pop shop. even more amateur than the amateur "big boys".

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Ivy, I feel your pain and exasperation.

 

I had a CU deny me a refinance mortgage application once because they found an old lawsuit brought by against me by my property association where I lived at the time. The lawsuit showed "dismissed with prejudice" and they thought that meant prejudice against ME, not THEM. So they denied me. I explained what "dismissed with prejudice" means. But they said they didn't need to ask an attorney because the person who handled my file knew all about these issues and he KNEW he was right.

 

I also moved on and another company refi'd me.

 

Just shows the people behind these companies aren't always that smart....

Edited by deerfern

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Ivy, I feel your pain and exasperation.

 

I had a CU deny me a refinance mortgage application once because they found an old lawsuit brought by against me by my property association where I lived at the time. The lawsuit showed "dismissed with prejudice" and they thought that meant prejudice against ME, not THEM. So they denied me. I explained what "dismissed with prejudice" means. But they said they didn't need to ask an attorney because the person who handled my file knew all about these issues and he KNEW he was right.

 

I also moved on and another company refi'd me.

 

Just shows the people behind these companies aren't always that smart....

:lol: Memberlicious!!! Which credit union was this?

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Care to share which CU this is?

 

Some most none aren't worth the hassle when something like this happens.

 

At least under the circumstances spelled out here ... I read this, smh, thinking more than a few here have too much time on their hands.

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Care to share which CU this is?

 

Some most aren't worth the hassle when something like this happens.

 

Why would you say most are not worth the hassle? I would rather not reveal its name, however, its not a well known one, it's in the DMV area and it begins with a T..

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Ivy, I feel your pain and exasperation.

 

I had a CU deny me a refinance mortgage application once because they found an old lawsuit brought by against me by my property association where I lived at the time. The lawsuit showed "dismissed with prejudice" and they thought that meant prejudice against ME, not THEM. So they denied me. I explained what "dismissed with prejudice" means. But they said they didn't need to ask an attorney because the person who handled my file knew all about these issues and he KNEW he was right.

 

I also moved on and another company refi'd me.

 

Just shows the people behind these companies aren't always that smart....

 

Definitely not smart because when I called the representative on the letter she could not answer one of my questions.. not a one.. she did not have any clue how the investigation was conducted and what they used nor what was in my file.. Umm you sent me a certified letter you don't know whats in my file.. I am not taking an excuse she was just handed a letter to write.. No in my prior career I was an admin and any letter you write and send certified there are copies placed in a file..

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Care to share which CU this is?

 

Some most aren't worth the hassle when something like this happens.

Why would you say most are not worth the hassle? I would rather not reveal its name, however, its not a well known one, it's in the DMV area and it begins with a T..

Because CUs are not that special in most cases and its not worth doing business with an amateur organization that doesnt want you.

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I hate Bank or CU BS. I always follow up to make sure nothing shows up later where it doesn't belong.

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