VALIC403B loan

This review was posted by
a verified customer
Verified customer
Review updated:

I needed a third-party signature for my $1, 200 loan, or so I thought. I called VALIC's customer service line and the man, barely listening to me, said no signature needed. Of course, he was wrong. Two weeks later, still no loan. I called back and was told of course, I needed that third-party signature. Three weeks later and numerous conflicting phone calls, my loan was finally "released, " even though VALIC said it could take up to 5 days to post to my bank despite ACH handling.
Why does VALIC have such a bad reputation? I'm guessing the richer you are, the more you invest = better customer service or a different 800 number. Either way, I froze my retirement account with them. Hope more middle-class people trying to survive follow suit. It's our money, not theirs! No more VALIC!


  • Ma
    Madpad Jul 01, 2020

    I'm going through a very similiar circumstance. I applied for a loan to repair roof and house...need complete new roof. I had borrowed from my account before with no issues, so I thought this was the best route to follow-WRONG! I applied for the loan on June 13th. thought everything was call from the 3rd party sign off group that they were no longer the signoff for the school system I retired from. Then contacted my rep from Valic and she told me she was "so sorry" but didn't know that, had just gotten email telling her that info. She checked and told me where to fax my forms to for the 3rd party signature. I did and they kept it from Friday until the following Wednesday June 18th.. They sent it over...still no action from VAlic...I have made call after call, sent text after text, email and all -even talked to supposedly person named Holly who could RUSH things up..talked with her late yesterday...she said she would call me back that she was contacting the team to do ASAP. I told them I wanted it in the bank by today... SHE NEVER CALLED ME BACK...NO FUNDS IN BANK... I have truly had it with these people. I called and left her a message, so did my rep, and even called AIG/VALIC again. They said they saw where I had spoken with someone "higher up" and she had sent the team an email to do this ASAP, but when the person I was talking with checked, there had been nothing done. my rep just sent across that they said" they are working on it". I want my money now!!

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions


    Unhappy consumers gather online at and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.