Customer ReviewsforCapital Educators Federal Credit Union

They will charge you for insurance on your loan without your authorization, raise your payments all while already receiving the documents for proof of insurance at the time of the loan closing but refuse to verify it and then when you continue to send the information or your insurance agent sends it they refuse it. They say it is not their job to verify the insurance. They refuse to take the insurance off our loan and refuse to put our payments back where they are supposed to be. We have been fighting this for 3 months and still no resolve. I would advise anyone who is even looking to get a loan from them to STAY FAR FAR away. They will report that you are over the limit as well to the credit bureaus for months because of the unauthorized insurance they add to your loan. Which in our case is $12K and somehow that $12K doubled our monthly payment!! They will discriminate against you if you are not from the area. It has been an absolutely awful experience!I have emails showing that insurance information was supplied at the time of closing the loan along with constant communication showing the contact information to the insurance agent for them to verify and yet I was told it was not their job to verify the insurance!! This 12K needs removed from my account and my approved loan amount back to what I agreed to along with my payments. yet they continue to refuse to do it and refuse to verify the insurance!!

Horrible! I purchased a new vehicle in July of 2022. The dealership set up the auto loan through Capital Educators, whom I have never done business with. Before the 1st payment was due, I set up auto pay through customer service via phone, which seemed to go through as scheduled, according to my bank records. October I received a warning letter from CapEd to provide proof of auto insurance, which was provided at the time the vehicle was purchased. I tried several times to contact customer service to discuss the insurance issue, but only got shuffled around with no resolution. So, I sent another copy of the auto insurance information via mail and email listed on the letter. In November, another warning letter for insurance was issued and then a letter that $4,407.00 was added to my auto loan for Placement of Insurance. Once again, I tried to contact someone at CapEd regarding the insurance and was placed on hold for 50 minutes. While I was on hold, I engaged in a chat session with one of their representatives hoping that someone could help me get this insurance issue taken care of. Needless to say, the chat rep could not provide any information regarding the auto insurance. However, they did mention that I was behind a payment and late fees were added to the auto loan. They informed me that my auto payments were discontinued late this year which has caused a missed payment. WHAT!!!! I never discontinued my auto pay with them, and I was NEVER notified via email, phone call, or letter that a payment was not made. Frustrated with the payment issue and still on hold for 50 minutes, I discontinued chat and phone call. Since then, my wife was able to reset the auto payments. Still waiting for the $4407.00 to be taken off my loan since I resubmitted auto insurance paperwork proving on going coverage from the day the vehicle was purchased. I am currently in the process of moving my loan over to my credit union where I have had no problems with prior auto loans.

We are sorry to hear that your experience was not what you expected. We have thoroughly researched these issues and are emailing you a copy of our findings. We are happy to discuss these findings with you and hope that you will consider staying with CapEd.

Horrible customer service. They went into by bank account and took all my money without warning. I have a auto loan and checking account with them. I'm not even 30 day past due and they took money out of my checking account. I now have 0 dollars. I called to see if they would be willing to work with me. They said, promised my, they would call me back. At ten minutes to 6 I called again. Apparently everyone who was supposed to call me back went home for the weekend. They did this stall tactic to me before when I deposited a check and they would not release the funds to me. They are not here to help you, don't be fooled like I was. They are sneaky little criminals out to steal your money.

In response to BBB Customer Review #******: In our review of this account, we found that on 5/7/2021, the day the funds were transferred from your checking account to your loan, you were actually 57 days past due. Before transferring the funds, however, our Credit Resolutions Department emailed you about the past due status. She then tried calling you but had to leave a voicemail asking you to call back as there was no answer. After transferring the funds, she emailed you the receipt for the transfer, and mailed you a letter about the transfer. The Account Agreement you received when you opened your account with us discloses that we have a Right of Setoff in all of your accounts with us for a financial obligation of any kind you owe to us, which, by law, we may execute at any time, without notice. As stated above, however, we tried contacting you two times before transferring the funds. If you’d like documentation of any of the information provided in this response, please feel free to reach out to us. We will be happy to provide it to you.