BBB Business Review

BBB Accredited Business since 02/01/2012

Hyden Citizens Bank

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Phone: (606) 672-1512Fax: (606) 672-362722023 Main St, HydenKY 41749 Send email to Hyden Citizens Bank

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BBB Accreditation

A BBB Accredited Business since 02/01/2012

BBB has determined that Hyden Citizens Bank meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

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

Factors that raised Hyden Citizens Bank's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

1 complaint closed with BBB in last 3 years | 1 closed in last 12 months
Complaint TypeTotal Closed Complaints
Problems with Product / Service1
Advertising / Sales Issues0
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Hyden Citizens Bank

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by Resolution

Complaint Resolution Log (1)BBB Closure Definitions
04/10/2014Problems with Product / Service | Read Complaint Details
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Complaint
The customer states that he received a mortgage loan from the company. The customer asserts that he was originally informed that his monthly payment would be 509.58. The customer states that the bank has been debiting 531.89 from his account. The customer alleges that the company has been difficult to deal with and has not offered an explanation of the difference between the amounts. The customer states that he received a letter that stated his payment included a charge of 22.31 for escrow.

Desired Settlement
The customer requests an explanation of the escrow charge. The customer also requests that the funds in the escrow account be returned to him once the mortgage is paid in full.

Business Response
We do have a mortgage loan with this customer. His monthly principal & interest payment is $509.58, his monthly escrow payment is $22.31, making his total monthly payment $531.89. This information is broken down and explained on the pormissory note that he signed and was given a copy of. With this escorw money, the bank pays his homeowners insurance yearly. This payment is due in June 2014 in the amount of $267.71. $22.31 x 12 monthly payments is $267.71. Escrow payment is a federal regulation on a mortgage loan for the first year. He can opt out of this escrow payment at that time. If he chooses to opt out, he will then be responsible for paying his homeowners insurance out of pocket. This insurance is required by the Bank as long as he owes on this loan. We have attempted to explain this process to him several times.

Industry Comparison| Chart

Banks

Additional Information

top
BBB file opened: 03/08/2005Business started: 01/01/1904
Type of Entity

Corporation

Incorporated: October 1983, KY

Contact Information
Principal: Mr. W.F. Brashear (President)Ms. Kim Dennison (Business Department)
Business Category

Banks

Map & Directions

Map & Directions

Address for Hyden Citizens Bank

22023 Main St

Hyden, KY 41749

To | From

LocationsX

2 Locations

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Lexington. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Hyden Citizens Bank is in this range.

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.

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Industry Tips for Banks

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What government actions does BBB report on?

BBB reports on known significant government actions involving business' marketplace conduct.

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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.

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.

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What is a BBB Business Review?

We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.

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BBB Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.