Business ProfileforAmplify Credit Union

Amplify Credit Union has what would be deemed by other mortgage lenders to be very suspect payment posting practices. These practices cause consumers like myself to be assessed late fees in error. On March 1, 2024, I scheduled an ACH electronic bank payment to post to my secondary loan with Amplify on March 15, 2024. This is an electronic payment. My statement gives the grace ****** of March 16th, and thereafter a late fee will be assessed if the payment is not received by then. March 16, 2024, was a Saturday and, therefore, NOT a payment posting day. There are no bank processes on the weekend. My payment was made on Friday. My payments are never mailed. They are always set up to be made electronically to be applied to my account before any cut-off ******. Instead of Amplify Credit Union posting my electronic payment scheduled to post on March 15th, they waited and posted the payment (an electronic payment) on March 18th, the same day they took the payment from my bank account. No electronic payment should be held for processing to obtain the actual funds unless the processing is being done manually to do so. Amplify Credit Union has set system processes to delay posting payments intentionally. If that is the case, this bank is inappropriately posting payments late, thereby causing late fees to be assessed inappropriately. I paid the billed amount due on March 15th. A payment that was set up on March 1st. There was no cutoff time I missed for that not to happen. Again, this company's payment posting practices should be investigated; however, for now, while I work with the State of Texas Credit Union Department, I want the late fee assessed and any interest accrued because of it removed. I am not asking for a courtesy. I am requesting they correct their inappropriate practice.