BBB Business Review

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This business is not BBB accredited.

Communal Credit Union

330 Town Center Drive Suite 900 , Dearborn , MI 48126 http://www.communalcreditunion.com ! There is an alert on Communal Credit Union !


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Description

Consumers report that this firm offers loans for an advance fee. These loans are targeted towards individuals with insufficient or poor credit histories. Consumers are asked to send the fee, to an individual, by Western Union to various locations throughout Canada.
 
The BBB conducted a shopping, and found that the firm was not located at the address given on its website.  The BBB conducted a domain search of the firm's website addreess, and found that it was registered to a private domain registration firm located in Markham, Ontario, Canada.


BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Based on BBB files, this business has a BBB Rating of No Rating. The reason is as follows:

  • The business's BBB file information is being reviewed and/or updated.


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Communal Credit Union
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: February 26, 2009
Business Category

Credit Unions

Additional Information

The BBB urges consumers to exercise extreme caution before considering any advance fee loan offer. The BBB strongly urges customers to check with their local financial institutions - banks, credit unions or savings & loans - prior to considering these types of offer. The BBB also suggest that consumers question why a company would extend a loan to someone with a poor/nonexistent credit history, when other financial institutions would not do so.

The BBB suggests that consumers contact their local financial institution to find out if they charge an upfront fee for a loan. The BBB suggests consumers request any fees be deducted from the loan amount, rather than paying these fees in advance. Consumers are advised that it is virtually impossible to recover money sent to an individual by wire transfer (i.e., Western Union or MoneyGram).

Licensing

The Michigan Office of Financial and Insurance Services regulates state-chartered credit unions.  The BBB found that this firm is not registered as a state-chartered credit union with this agency. 

X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.