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Offline franksolich

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primitives slam credit unions
« on: February 25, 2012, 06:18:34 PM »
http://www.democraticunderground.com/1002351272

Oh my.

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

My Credit Union screwed me and I'm pissed

My credit union was recently sold to another credit union. It was all a secret up until it went down. I suppose this had something to do with stock prices.

Well anyway I had ordered some replacement checks before they were sold. I paid 30 dollars for the new checks. I sent one of the checks in as payment on a bill. The bank of the business that I sent the check to returned the check as account closed.

I got a not so nice letter from the business that I owed the money to. On top of the returned check fee's, I'm going to get hit with a late payment fee.

I called the credit union to find out what happened as my account is not closed. I was told that even though the check I sent in had the same account number on it, they were only honoring checks with their credit union logo on them and not the old credit union name.

I asked if they were going to replace the checks that I bought before the transfer...........well you can guess how she answered that one.

No financial institution is your friend. They'll all screw you if they can.

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Justice wanted (1,189 posts) Profile Journal Send DU Mail Ignore

1. Oh man, I would find a new credit union. I would also make this known to your local news network

Sometimes you have to publicly shame a business into doing the right thing. THEY should pay your late fees the NSF fee and anything else they caused.

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

4. The money was in the account

They just never honored the check.

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FinsUpTechGuy (11 posts) Profile Journal Send DU Mail Ignore

2. hmm

you were given misinformation. Banks don't actually send checks to other institutions anymore, it's all electronic so a logo doesn't matter. If the routing number is changed that is different.....

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

6. They all can't be that way

As I just had what I described in the OP happen.

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customerserviceguy (13,017 posts) Profile Journal Send DU Mail Ignore

20. Good idea

Now the credit unions in my area are just not ready for prime time (decided to go with a local community bank after two CU's) but they never did the dirty trick that the OP endured. There's got to be a good way to warn other people, maybe creating a website on a foreign web host that they'll have difficulty taking down.

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Duer 157099 (14,404 posts) Profile Journal Send DU Mail Ignore

8. When WaMu became Chase

I had a bunch of old WaMu checks that I continued to use until they were all gone. So it's not like they *couldn't* have let you continue to use them. Buncha jerks. Go after them.

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

11. I questioned that

The lady told me that they had a window of 90 days to honor the old checks and that it was up to me to get news checks.

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bhikkhu (5,953 posts) Profile Journal Send DU Mail Ignore

9. I'd close the account, and make it very clear why

...about the only way to enforce good customer service is to "vote with your wallet" - don't bank with people who treat you like crap, don't shop at places that treat you like crap.

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snagglepuss (7,484 posts) Profile Journal Send DU Mail Ignore

10. Over the years the Credit Union I am with was sold twice and I'm using the original checks I got years back. There is a national Credit Union organization, why not contact them?

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

12. WOW!!!!

How many checks did you buy initially?

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snagglepuss (7,484 posts) Profile Journal Send DU Mail Ignore

13. Can't recall. It was years ago and I use cheques only for rent so I don't plow through them. It's shocking that your old Credit Union wouldn't have advised customers their checks would no longer be valid prior to the sale or that the new buyers wouldn't have a grace period. I have to wonder if they haven't broken a law by not informing customers the old checks wouldn't be honored as I believe bounced checks go on credit reports. I wonder if you could sue?

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

17. They said they sent an email to every customer

I never got one.

I have on-line statements so it's not like I would have deleted it without looking at it.

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progress2k12nbynd (44 posts) Profile Journal Send DU Mail Ignore

14. Be interesting to know why the buyout...

...really occurred. Stock prices of something somewhere might have played a role, but couldn't be the companies themselves as credit unions are by definition non-profit and don't have associated stock like a big bank would.

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csziggy (11,424 posts) Profile Journal Send DU Mail Ignore

15. If they are going to insist that their logo be on the checks

Even when the account number is the same, they are using the checks YOU are paying for as advertising. I don't see how this is legal.

Did they send out notices that they would only honor checks with their logos on them?

When my bank changed routing numbers, they sent notices a YEAR in advance, six months in advance, three months in advance, etc. Even once they changed routing numbers, once when I accidentally used one of the old checks, the back honored it but sent a nice letter reminding me that the number had changed and that I needed to discard those old checks. Since I was using up checks that were over five years old, I didn't mind paying for new ones.

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michreject (3,927 posts) Profile Journal Send DU Mail Ignore

18. I wish I were so lucky

I probably would have bought new checks if I knew in advance that they weren't going to honor the old ones.

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lib2DaBone (7,417 posts) Profile Journal Send DU Mail Ignore

16. True.. no financial institution is your friend...

..but I have found that Credit Unions are FAR and ABOVE any bank.

Try and give them a chance... work with them if they are willing to work with you.

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WolverineDG (21,267 posts) Profile Journal Send DU Mail Ignore

19. check with an attorney in your state to see if this phrase works magic

as it does in Texas: slander of credit

You had money in your account, you wrote a check using the proper account number. They should have honored it.
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Offline thundley4

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Re: primitives slam credit unions
« Reply #1 on: February 25, 2012, 06:25:10 PM »
AFAIK, Credit Unions may merge, but they are never sold outright.  The members are the shareholders of the credit union.
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Offline zeitgeist

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Re: primitives slam credit unions
« Reply #2 on: February 25, 2012, 06:35:31 PM »
Ran across this thread earlier over at the DUmp and couldn't help but laugh thinking of all the posts about pulling their wealth out of big banks and depositing it in trust worthy Credit Unions.  Irony yer doing it right. :rotf: 

My bet is that fully half of the DUmp has to pay check cashing fees at Wal Mart because they don't have an account any where.

I wonder how many bounced checks the Skinny man has to deal with. :whatever:

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Offline Mr Mannn

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Re: primitives slam credit unions
« Reply #3 on: February 25, 2012, 06:44:30 PM »
1) I do not believe that the Credit union would not honor old checks.
2) Further I do not believe that this would be a surprise if they didn't honor as it would be announced ahead of time.

Bottom line: the DUmmy bounced a check and he's looking for sympathy.

bad bouncy. zero bongs.
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Offline Tucker

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Re: primitives slam credit unions
« Reply #4 on: February 25, 2012, 06:48:59 PM »
Quote from: thundley4 on February 25, 2012, 06:25:10 PM
AFAIK, Credit Unions may merge, but they are never sold outright.  The members are the shareholders of the credit union.

I don't know is merge is correct in the rejected DUmmies case. It was probably more like an absorption, with the larger CU getting to keep their name.
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Come to think of it, unions do create jobs. Companies have to hire two workers to do the work of one.

Offline Big Dog

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Re: primitives slam credit unions
« Reply #5 on: February 25, 2012, 06:57:18 PM »
Quote from: Mr Mannn on February 25, 2012, 06:44:30 PM
1) I do not believe that the Credit union would not honor old checks.
2) Further I do not believe that this would be a surprise if they didn't honor as it would be announced ahead of time.

Bottom line: the DUmmy bounced a check and he's looking for sympathy.

bad bouncy. zero bongs.

DUmmies lie. All the time.
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Offline seahorse513

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Re: primitives slam credit unions
« Reply #6 on: February 25, 2012, 07:07:04 PM »
Regardless of whether it's a merger or a buyout, financial institution will send out mailings.Usually a good 60 days ahead of time, so people can reissue credit/debit cards as needed. Order new checks, redirect direct deposit if needed, so on and so forth...
Four types of communication, if not more..
1. Mass mailing from bank
2. The financial institutes website
3. Most banks ask for an email address, so they can email their customers
4. A local newspaer, or another form of media
so unless people live in a blessed cave.... :banghead: :banghead:
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Offline miskie

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Re: primitives slam credit unions
« Reply #7 on: February 25, 2012, 08:02:36 PM »
As long as the routing number is the same, there is no problem. Printed logos and other art is just that, art. It is irrelevant.
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Offline Ballygrl

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Re: primitives slam credit unions
« Reply #8 on: February 25, 2012, 11:04:35 PM »
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Well anyway I had ordered some replacement checks before they were sold. I paid 30 dollars for the new checks.

$30 for replacement checks? we get ours at Walmart, look at the prices:

http://www.walmartchecks.com/

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Offline AllosaursRus

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Re: primitives slam credit unions
« Reply #9 on: February 25, 2012, 11:25:59 PM »
Quote from: thundley4 on February 25, 2012, 06:25:10 PM
AFAIK, Credit Unions may merge, but they are never sold outright.  The members are the shareholders of the credit union.

The only way they didn't pay this check is because the money wasn't in the account! Perhaps he/she has direct deposit, and the check came in before the deposit. Otherwise this DUmbass is lyin' thru it's teeth!
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Offline GOBUCKS

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Re: primitives slam credit unions
« Reply #10 on: February 26, 2012, 12:41:22 AM »
Bounced check bouncy tales are pretty common.

A lot of DUmpmonkey checks bounce.

In every single case, it's because the DUmpmonkey wrote a check for more money than he had in his account.

It's insufficient funds in every single case, without exception. Then they make up a tale to blame the bank.
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