I have been a member with NFCU for quite sometime now. 6 or more years to be exact. I have a checking and saving account. My brother is an authorized user of the account. He went into the branch to apply for a loan. He was advised that he needed a co-signer. He then applies online. He used my information: name, and access number I believe. Well, NFCU stated once more he needed a co-signer to get approved. Anyhow, they sent the promisary note via mail for me to sign. Needless, to say the note was never signe but NFCU processed the loan anyhow. Mind you this took place Aug. of last year. Well a year later, two weeks ago to be exact I go to cash my check. The rep. states that she is not capable of cashing my check because I have a loan in default. I state that I do not have a loan. I go into the branch to talk it over with a member service rep. She calls collections (i believe) and they state that the promisary note was never signed but they processed the loan application anyhow. Since our accounts are linked together, and I'm a co-signer then I have to make a payment. Well I tell them that I was not aware of this loan and if my signature was not present how were they able to promise the loan. So I signed an affidavit and my file was placed under fraud investigation. My check was deposited into my checking acct and NFCU transferred my money to the delinquent account. Moving forward, I spoke with several different reps/supervisors and no one can refund my money until the investigation has been closed. WOW! NFCU has strict guidelines to follow. I can't seem to understand how they take extreme precaution to ensure identity theft is not committed but these same guidelines do not apply to their reps. How is NFCU able to process a loan that needs a co-signer without their consent. My signature was not on the loan and regardless if our checking account is tied together, no signature qualifes as no drafting of my funds. I'm burnt out physically and emotionally because they (NFCU) took it upon them selves to process a loan application without my consent. Now I have to fight back and forth with collections, fraud, and the banking center to have my funds replinished. How can you all post a site stating your mission, commitment and so forth when they do not live up to their own standards. I am willing to contact an an attorney to get my money back. No one has appolized or owned up to their mistake. I'm willing to stay calm if someone would atleast say: Ma'am we dropped the ball and we are willing to do any and everything in our power to resolve this issue. I am out of my money, they refuse to put it back in my account until fraud closes the investigation. I have worked for customer service and collections with numerous of companies. My complaint is NFCU refuses to replish my funds and take ownership. They want me to file a police report (in which I don't mind) against my brother but the issues still remains. NFCU processed a loan with out the necessary paper work. They have committed fraud just as well as my sibling. But in their eyes, it's company policy to process that individual and not them because they have done no harm. WE ARE ALL HUMAN THEREFORE HUMAN ERROR DOES TAKE PLACE. If only they could see themselves in fault and take ownership. I'm still fighting to have the outcome result in my favor. I'm not asking for them to bend the rules. I'm asking for them to be honest with themselves and correct the manner in which they created. I guess I am just another whinning customer who does not take responsibility for their own actions. Moving forward I will no longer do business with this credit union. They are cruel and heartless. I wish I could go into their bank accounts and withdraw money because I felt like it. If only they could see the wrong in which they have done. But yet again, that's like asking Jeffery Dahmer, did he mean to eat those humans???!!! *sigh*
Earlier this year my wife and I refinanced our car loans that we have with NFCU. Through a lot of issues and lack or proper paperwork being done we FINALLY got everything done and lowered our payments and we happy. Well Back in April of this year I received notice that one of the cars were up for repossession. I instantly called and spoke with the collections department to find out what was going on. I read the letter to them and gave them the person's name that was on it. Well that individual wasn't in and they spoke with other people in the department to find out what was going on. Well after about an hour on the phone the came to the conclusion that since we had just refinanced the loans and a payment wasn't due because of the new contract one system hadn't updated another and the car was not up for the repossession. I was happy with that explanation due to some systems acting up and I keep up with my payments as I was required to do. This whole time the car was also sitting at the dealership due to the engine going to crap and them saying it's not covered under warranty due to there being 9" of sludge in the oil pan. Well with current oil changes that won't happen plus that much sludge wont' fit in in the oil pan of an '04 Santa Fe. Well the letter I got today stated that the car had indeed been picked up and sold with out my knowledge. I know this can not be done if the payments are current as they are and at no point had they gone behind. The bank stated that Hyundai called them and said if they didn't get it they were going to put a mechanic's lien on it and sell it themselves. I guess that's how Hyundai deals with disputes. While questioning the bank rep he was not only unprofessional but refused to answer my questions. I know a repossession and sale of a vehicle that is a felony and when I informed the bank rep he said no it's not. I have been with this bank for over 20 years and my father has been with it for over 40 years. He's since transferred all but his mortgage out of that "bank". I've already filed with the BBB and I've also posted on planetfeedback.com
I am the wife of a deployed soldier. We've been member's of nfcu since they opened to all members of dod in...
After being with navyfcu for over 10 years I never thought I would say this, but I am very disappointed in how members, such as myself have been treated with this jacking up my credit card interest rate on both my nrewards visa and master card. I had a 7.9% interest rate for more than 8 years in which I was very responsible with.
Last year, navy federal made a decision to go to a variable interest rate. They checked all there members credit scores in sep. 2009 and reported to me that my rate on both my visa and mastercard nrewards would go from a 7.9% on both to 17.9%-master card and 16.9%-visa. I have never shown and risk of being late on payments and have always paid off my balance.
After calling navy federal several times they said that navy federal has refused to lower any of their customers interest rates, even if there credit rating has improved significantly.
I am sure I am not the only one out there experiencing bad customer care from navy federal and surely will not be the last. The only reason why I rather not take my business elsewhere is because I have had a loyalty to navy federal in the past and I hope they might rectify this issue.
Dissatisfied long term customer,
First of all, i've talked to a dozen or more navy federal representatives about membership and auto loans over the past week and only one or two have been helpful. The rest seemed bored, or to have an attitude with me for bothering them with my questions or concerns. I know that it's just the luck of the draw, but it was a turn off for me.
I'm a newly-wed, and while my credit is pretty good, it is "young" (The longest account I have is only 2 years) and I don't have a high credit limit on my credit cards. My dad offered to be a co-signer on a small auto loan so I could help mature my credit and we were approved for a 14%+ loan (Even though his credit score is 750+ and mine is 725!) if we met certain "conditions. "
One of the "conditions" of the loan was for him and I to go to a branch to pick up the paperwork. I asked why they couldn't mail it even though i've been told it could be mailed, and the phone representative just said, "i don't know. It's just what they want. "
The nearest branch to us in arizona is 150+ miles away in yuma. Plus, my dad lives in colorado. I asked if he was expected to fly down to arizona to get the paperwork with me. No, he said. I could pick up his part, mail it to him, have him sign and mail it back to me and then drive back to yuma to hand-deliver it.
Are these people just trying to save money on postage or something??? Why not just skip the hassle and mail it straight to us?!
Honestly, I got a little bit snotty and I asked him how fast this all had to be done by. Because it was going to take some planning to make not one, but two road trips to yuma.
He told me, "well, as fast as you can I guess. You want our money, right?" like they were loaning me their money out of the goodness of their hearts, and not receiving any money through a ridiculous interest rate.
Then he asked me for my w2 forms for last year and gave me the fax number for the branch office so I could send them in. Apparently, I have to hand-deliver certain things but can fax others. I tried to give him my husband's fax number at work so they could fax us the documents instead of driving to yuma. No dice, of course.
I am not banking with navy federal anymore. It's not logical to be asked to drive 150+ miles twice to get a loan when they could mail me the documents. If they wanted, I could've paid another bank to have them notarized! There are so many other ways this could've been handled, but now i'm just done. I'm afraid to call back and ask for my $5 "membership deposit" back to close my account. They may ask me to drive to yuma to do it!
Right after this experience, my dad and I applied for a loan through usaa and was instantly approved for a much lower interest rate. No hassle, no driving 150+ miles, no attitude. If usaa isn't your cup of tea either, i'm sure that any other bank would be better than this one. Avoid at all costs.
First of all... Why are you complaining? Just take your money elsewhere.. And secondly... Its not their job to keep up with your money!! Its your job!!! And they hang up on members because you curse at them!! Thats not poor service... Thats you being ignorant!!! You are pathetic!! Go balance your checkbook instead of filing little complaints that arent going any where... Navy federal is the only bank that is open at all times to help their members who are over seas.. They are a great company.. And members cant talk to the ceo hello!!! Are you crazy?! Do you not know how busy he is? Navy federal is the largest credit union in the world and they are a darn good one I must say! Maybe next time.. When you have an issue.. Dont take it out on the person on the other end of the line.. Because its probably not their fault!! You all cry like babies when you dont get your ways.
Long story short, we are in the middle of a short sale. Our credit has been impeccable until now. What forced us into this was an auto accident injured my neck and re-injured by back and I was not able to work my second job anymore.
We have a 5 year interest only arm and navy federal credit union is our 2nd lien holder. The first lien holder understood the situation after displaying our monthly expenses and approved the short sale. Navy federal credit union said we could afford to pay essentially 50% of it over 15 years at .01% interest. After moving into another home this monthly amount would force us close to what we paid before the short sale. I told them that we could try to pay this. Then they changed their mind and said we need to pay the full amount, approx $60, 000 over 15 years at .01%. I mentioned that this would force us into bankruptcy in a few months. Particularly when my our second child (Due in 4 months) starts daycare.
Despite all efforts to show a flawless credit history, to show that we had lost significant income due to the accident, that we even maxed out our credit cards on daily expenses to make payments to our mortgages and utilities on time... It still did not matter. I tried to explain that we will be forced to file bankruptcy once our second child is in daycare if they continue to force us to pay such an astronomical amount a month. I even mentioned that I asked for underwear for christmas to save money and I can not see how we could pay an additional $340 a month (Even closer to what our mortgage was before the short sale).
None of this phased them. So now we are agreeing to the short sale and agreeing to pay the amount of $340 a month. And once our child is born and we incur another $800 expense in a few months... We will file bankruptcy.
Way to take care of your navy veterans!
4 years ago my wife and I purchased a home. My income was based on the two jobs I worked. Three years into paying everything on time and I was in an auto accident which prevented me from working my second job. We continued to pay on time by using our credit cards to pay for daily expenses. When the credit cards were getting maxed we started contacting our 1st lien holder (80/20 loan, interest only arm) to take advantage of the plans obama had made. Nothing had been put in place. Two more months went by and we getting close to the limits on our credit cards and we tried again with our 1st lien holder and nothing still had not been set so that citizens could take advantage of the programs obama put out. Another month went by and we finally caved to the only option we had... A short sale.
Navy federal credit union was our second lien holder
Nfcu's refinance promises are not being carried out. I applied for a refinance of an nfcu mortgage which would have lowered my monthly payments $400 (Nearly 25%) , but was rejected because of "inadequate income", despite being current on the mortgage at the higher payment. The rejection was despite fico scores over 800, liquid assets exceeding the amount of the mortgage and a loan to equity ratio under 60%. Because of the reason nfcu gave for my rejection, I applied under the federal home affordability program that has a stated goal of reducing mortgage payments to 31% of income. Nfcu rejected that application because they claimed I have "too much equity" in the property. The comments from nfcu president cutler dawson and vp for lending jack gafney about nfcu's willingness to help its members are not supported by the actions of the loan committee. If you want to refinance, save yourself time and effort (And the $250 fee) and take your business elsewhere. After 30 years as an nfcu member i'm looking for another place to put my money.
I have been a nfcu customer for almost 20 years and up to this point had been very satisfied. Due to the recent economic conditions, I am in a bit of a pickle. I owe $190, 000 on a first mortgage and $150, 000 on a line of credit. My home is currently valued at $175, 000. Before the real estate bust my home appraised for $430, 000. I thought I was beeing wise when I purchased a rental home with the line of credit 5 years ago. I was not investing to flip but for a long term investment. I planned on refinancing this loan once I had %20 equity in the rental. Well, now the rental home I purchased for $155, 000 and remodeled is worth about $70, 000. I have had to reduce the rent from $1200 a month to $800 a month to keep it rented. My current combined payment is $2100 per month. My line of credit matures this summer. My payment will then be about $4000 a month!
I have contacted nfcu multiple times over the past year to try to find a solution. I have spoken to custome r service and they tell me "sorry there is nothing we can do. Those were the terrms you agreed to. "
I have let them know that I am willing to repay what I owe but I need the terms adjusted. I explained that I could afford $3000 a month. They will not hear it. I suggested refinancing the entire amount and amortizing it over 30 years at a reasonable interest rate considering I have a credit score of over 800. They say "that due to the current value of my home and there new requirement of needing %20 down I would need to put down $250, 000 in order to get approved. Ha ha funny right. The sad thing is they are serious.
I have suggested a loan modification and they tell me that those are for people who are currently struggleing. I explain to them that I am not struggling currently but I will be. I am trying to solve this problem before it becomes a problem instead of waiting until it is a problem.
I feel that I made the decision to borrow the money and had planned on living up to my end of the deal. I am trying to be a reasonable person and repay my debt. After many hour of research and phone calls, I am beginning to see the writing on the wall. I am probably going to loose my home to forclosure and end up with bad credit and a judgement against me. They will then probably come after me with a judgement and garnish my wages.
I have wife and two young girls who depend on me and I have failed them. I do not know how I will live with myself when all this happens. All because some greedy jerks will not work with me at navy federal credit union.
They act like they need the money back right now. Thanks for ruining my life. I had been an honest responsible person and due to circumstances outside of anyones control and navy fedreal credit unions lack of flexibility and empathy my families future is now very bleek.
Thanks for reading my post.
I have been a member of navy federal credit union for over 18 years. For these years I have noticed that...
My problems began with navy federal last year after I got out after many years of honorable service in the military. I have two credit cards with navy federal. Being out of work I was unable to make the high minimum payments. So I spoke with a navy federal rep and arranged payments with navy federal. The minimum payment was adjusted and I set up a payment plan. A few months went by and I started receiving the phone calls. 3 times a day, 4 times a day and sometimes as high as 8 times a day. I even received on at 9 oclock at night. I was told I was behind on my payments. I explained I had set up payment plans. They told me there was no record of me setting up a payment plan. So, once again I set up another payment plan. Once again time went by and I started getting the phone calls again. Once again I was told there was no record of me setting up a payment plan. Once again I spoke with a representative. I told them what had been happening and I would not set up any payment plan until I received something in writing. So we agreed to 100 a week, and she told me that would start once I signed the paperwork. A few days went by and over 500 was withdrawn from a bank of america account of mine by navy federal. Nowhere in my conversation was this amount mentioned, at no time did I give anyone permission to withdraw money from this account. I filed a complaint with the national credit union association. After some time the 500+ was returned to me. Which than put my credit card back in the red. Now I have made up my mind that I will never speak with them on the phone again and I surely wont call them. I just mail them 100 a week. It is all I can afford. The credit card continues to stay in the red, but there is nothing else I can do. Worst bank I have dealt with in my entire life. My credit is destroyed due the nonsense I have gone through with them.
I have been a faithful customer of navy federal credit union since I finished boot camp seven years ago. Upon leaving the military, I found civilian life to be difficult. After being laid off in january 2009, I had a difficult time paying my bills. I worked out a plan with navy federal to consolidate my bills. I agreed but after a few weeks, I found myself having trouble making the payments. I let them know of the situation and tried to work things out.In august 2009 I decided to hire a bankruptcy lawyer and had him fully retained by september 2009. I let navy federal know that I was filing bankruptcy and the calls stopped for about a week and started up again. After repeatedly telling several collections agents from navy federal credit union that I am in the process of filing bankruptcy and giving them my lawyer's information, navy federal continued to contact me. I wrote them two letters stating that any communication regarding my accounts must now be directed to my lawyer, as I had stated in our phone calls. Not only do they continue to contact me, but they have also sent written communications regarding my debts to several family members and have contacted other family members by phone. I have asked them to stop contacting my family regarding this debt on several occassions. They sent a representative to repossess my motorcylce and harassed my 11-year old daughter who was home alone at the time. The man looked through my front window when no one answered the door and saw my daughter and insistently motioned for her to open the door. When she did, he stated that he needed to speak to an adult and she told him that one was not available. His tone turned belligerent and he insisted that she try to call someone because he needed to repossess her dad's motorcyle. As soon as he walked away, my daughter hid in her room because she was so scared of the man and the way he had spoken to her. The latest phone call received from navy federal was december 5, 2009 at 8:45am in which the agent said that they will look into garnishing my wages, repossessing my motorcycle and possibly my truck even though the title of my truck does not list navy federal as a lienholder. I told the representative about the bankruptcy and to contact my lawyer but she was indifferent to the information.
This is by far the worst branch nf has. The managers christina and nicole are lazy and incompedent. The lines are always out the door. And when you have an issue they will not come out to acknowledge it. I was standing in line as usual and saw nicole curse at another employee in front of atleast 30 customers. I couldnt even get christina the manager out to acknowledge a loan issue on my application. She told the msr to tell me that she would call me back. She never did. Ive been here for 2 years and they have had atleast 25 employees come thru there. There are prob 2 employees in that whole branch that know what is going on. There is a serious leadership and possibly an eeo issue in that branch that needs to be addressed. The management is horrible.
Navy Federal Credit Union withdrew money from my account without notification because I was a joint owner of...
Due to financial hardships I got behind on my vehicle lease with navy federal. I made arrangements with them, set up an allotment to pay the lease directly. All was fine for about a month and two days before they were going to get thier payment, the repo guy shows up. Now, ok that was my first issue, now I contacted them the day after to arrange for payment to bring the accound current and recover the vehicle. The navy federal employee then tells me that they will not give me the vehicle back since they no longer do leaases anymore. Now, state law in michigan requires them to give me fifteen days to recover my vehicle. I am contacting an attorney and will do what I can to get my truck back.
Nfcu mortgage default division has not communicated with us consistently and the service representatives have been extremely rude and non-responsive. My husband was laid off in june 2009 and nfcu has refused to work with us on our payments, they say because we had already modified the loan in 2008. We did modify in 2008 because I was out of work for over 2 years. Then I finally found a job, and my husband was laid off.
We contacted navy federal in may 2009 to see if we could 'short' sale the house to ourselves. Our thought was & ldquo;why should a stranger get a & lsquo;deal’ on our house and we lose our home in the process”. Three months after asking them the question, we could not get them to respond. Finally, after many phone calls and emails, a representative responded (After we called them, yet again) by saying that we could not 'short' sale the house to ourselves, and also, could not get another loan modification because we had one the previous year.In other words, our hard work and money already put into our home would only benefit a stranger (Who has never put an ounce of sweat equity into building our home). And they would get approximately 50% off the original home price.
This complaint is to let other know of our experience with navy federal credit union, and to give our opinion that they are incompetent and that we recommend not using them for any financial needs!!
Navy fcu is one of the worst banks I have ever placed my money in. They are extremely rude and have no concept of customer service. My first issue arose when we applied for a mortgage. They assigned me to a loan officer in a completely different state. The loan officer was never in her office. I called constantly to try and talk to her and ask questions and never received a call back. I finally gave one last attempt after a month of this, and she was in her office so they placed me on hold for 30 minutes. The line got disconnected and when I tried to call back the office was closed. So I called the corporate office to file a complaint, and they told me I would have to wait until the next day when that office was open again. I cancelled my request for a mortgage loan due to the fact that I would not trust a sum of that much money with someone I can't even get a hold of. My second issue arose when I was checking our account online and our balance showed a large amount more than what I had written in my check book. I checked again the next day and again it was different but this time much less than what I had recorded. Again, the next day I checked our account and it was back to a larger sum than what I had recorded. I cannot trust what they have on the computer, it is inadequate and probably why a lot of people warned me not to open an account with navy federal credit union. Navy federal has horrible service and absolutely no organization skills.
This is just a suggestion from personal experience I would never bank with navy federal credit union they are...
I've had navy federal for the past two years and their inaddiquate system never fails to amaze me. I am very careful about my account and my spending and once again for the millionth time they have re assessed and moved money around in my accounts to cover some fee or bad transaction that doesn't show up on my account! And when you call them they can't tell you much besides well you account was re accessed to cover an outstanding balance or something along those lines. If you have an option to use another bank i'd suggest you do so. Just not b of a either. I swear i'm taking all my money out of all the accounts and just being done with it.
Navy federal has gone from a "member-first" philosophy to a "cover-our-###" paradigm in the past few years.
My problems started when they changed their policy on their sharedraft visa card. It used to be that the account would be debited from the account when the transaction posted. Now they backdate it to the time the card was swiped. Why? To collect more fees, of course. Even if you swipe the card, put gas in the car, get home and transfer the $5 difference 5 minutes later... When that transaction posts you'll get the $25 fee. Wait, it gets better. That $25 fee will be backdated, so if you went to, say, starbucks, the supermarket, and drive-through and used your card... You'll get another $25 fee for each transaction when they shoehorn the backdated fee in. Even if your account never went below $0. Why? Well, that is how ceo cutler dawson makes his money. How much money does he make? You won't know as a member and part-owner of the credit union because they fear that kind of transparency. But i digress...
Know what is interesting? Many places don't let you use it as a debit card, only credit. It was explained to me that this was a choice made by the card issuer and not the merchants' systems. Now, why would they restrict that usage? Well, it's hard to rack up overdraft fees if folks are using their pin number and the money is coming directly out at that time. Do you think nfcu would deliberately set up a system that would make them more money?
I've read many of the complaints about navy fed on this board and have seen the responses from alleged employees of nfcu. Maybe they are the same people who revel in schadenfreude at the folks on here who lost their jobs and can't pay their bills. Maybe they were involved in the lawsuit nfcu lost when they continued to harass a former member:
Maybe they are the ones who look at my account on their computer screen and talk to each other in tagalog so i don't know what they are saying. Maybe it's the supervisor who, after only refunding half of their ill-gotten fees, offered to "take the money back out if i don't like it".
Maybe, just maybe they don't realize that the unprofessional behavior they exhibit here and the vitriol they spew is being presented to the world. This undoubtedly will make their corporate overlords unhappy, but they don't realize that they are only small cogs in a giant money-making racket that chews up the little guy. So i can't really blame them for what they don't know.
Final words of advise, take it or leave it: avoid navy federal. Find a small local credit union that will treat you well, kind of like how nfcu used to be.