Chartway Federal Credit Union / bad business practices
I co-signed for a car loan for my son. Being my credit was excellent, I was placed as the primary on the loan. About 1 week after the loan was done, I called Chartway. I told them as the primary on the loan, I wanted to be the first point of contact, if anything were to pop up. I gave them all of the needed information, i.e., email address, home/cell phone, mailing address, etc.
About 8 months later, my son called me to tell me the car had been repossessed. He was making payments on time, and this didn't make any sense. I called Chartway. I was told that they needed proof of insurance, and never got it, ergo, they applied an additional charge for insurance on the loan.
All the while my son was making payments, in person, he was never asked for proof of insurance. I, too, was never notified. So, he was technically making partial payments, and wasn't being advised otherwise. It took about $1, 300 to get the car back to my son.
Another situation recently, again, about car insurance, arose. I'd had enough. I sent in the full amount of what was owed on the entire loan. Chartway took their sweet time, in releasing the title to the car, and it was sent to the wrong address. Chartway informed me it was my responsibility to correct their mistake!!!
Chartway has a serious problem with communications between various departments. One hand doesn't know what the other hand is doing. No one communicates with other departments, which causes chaos with the customer.
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