Complaint Coastal Federal Credit Union Does Not Provide Secure and Timely processing of Visa Check Card Transaction Disputes. I attempted to transfer $250 to my son ****** ******* using the Square Cash application (www.sqaureup.com). This app works by posting a debit card debit transaction against the source card, and a credit debit card transaction to the destination. The application works extremely well in normal circumstances.
Our situation is that my Son's debit card number changed (card reissued), and he failed to register the number. I instituted a transfer to my son for $250. But the money was never transferred.
I contact Square, Chase (son's card holder) and Coastal Federal Credit Union, my financial institution.
After explaining, Coastal told me to fill out a transaction dispute form, and the transaction would be reversed. I went to their site to get the form and found it is a PDF which is intended to mailed to the central office. I called back to probe on this point, and was told I could email the form to: *********************@coastalfcu.org which I did.
However, the form asked to list the complete Debit Card Number. After thinking about this, I only included the LAST 12 digits of the card because sending a full debit card number in an un-encrypted email is GRAVE SECURITY RISK.
It is now one week later, and:
1) Original email has never been acknowledged 2) Sent a follow up email 3 days later, never acknowledged 3) Transaction has not been reversed 4) No contact from the Credit Union whatsoever on this matter 5) Sent an additional follow up message via their messages function on the web site. I has been 48 hours, and NO RESPONSE. 6) Tried to contact ***** ******, president of Coastal, both by email and phone to discuss the matter. They will not forward calls to *****, and will not give an email address.
I thought credit unions were supposed to SERVE their members.
I have no response or action on this transaction after a week. It is clear that Coastal does not care about Governance or Security on customer transactions or disputes.
Desired Settlement We want the following:
1) This transaction to reversed per the instructions given to us by COASTAL FEDERAL CREDIT UNION PERSONNEL
2) Institute within 3 months a Web Interface for submitting and tracking Credit Union Transactions disputes. It is imperative that this web interface be SECURE, and also conform to simple banking GOVERNANCE practices, so that submitters can track the status of submissions from entry to resolution.
3) A commitment to customers, that they will be responded to within 24 hours of a dispute submission by their PREFERRED method of communication.
Final Consumer Response /* ****** ** *********** */ A Coastal Representative contacted me, and resolved our issue with this complaint, in a quality way.
So I would like to have this complaint listed as resolved .
Complaint I sent this bank a money order for my first car payment which has been cashed but not put towards my account. I bought a car from Hendrick Honda which was completed on the 7th and 8th of May. The car was financed through Coastal Federal Credit Union and I was supposed to receive my bill every month from this bank. On my Honda contract the payments were supposed to be due on the 7th of every month. During the week of June 7 the bank called me and told me that they were behind on paperwork and that was why my bill never came but that they would send it later that month. During the week of the 27th I still had not received a bill or anything. I had to spend time trying to find out where this bank was and their phone number so that I could call them because their information was not on my Honda paperwork. They told me that the bill was sent out on the 21st which I never received. For the next two weeks I called this bank trying to figure out how I could send my payments in because I had no address to send the bill to, I had no idea how much they wanted me to send, and they refused to tell me my account number. After arguing with one of the employees she told me that she would put in for my welcome letter to be sent out since I had never received one and she put in for my bill to be sent as well. She also gave me an address to send my bill to, but since I still had not received my account number she told me to send a money order with the last 8 of my vin number. Since it took so long to get this straightened out she told me she would work on waiving the late charges. She had also informed me that my payments would now be due on the 21st of every month. I sent the money order during the week of July 7. I had finally received my welcome letter and first bill around July 11. At this time I called the bank to see if they had received my money order, which they had not. I called them back on the 14th and they had still not received it. On the 15th I called the money order receipt and it said that the money order had been cashed on the 14th. It is now the 22nd and they still have not put my money order towards my account. I have called multiple times and one of the employees told me that there was nothing they could do about it unless I knew who cashed it. Also, I have sent my second payment to Coastal Federal Credit Union on the 15th but I was able to send that payment through my bank since I now have my account number. They still have not put that payment towards my account. I have received a letter from Coastal on July 22 saying that my loan is now delinquent. This letter has a phone number for me to call but I cannot get anyone to answer the phone there.
Desired Settlement I want this bank to put my payments toward my account like they are supposed to do. Also, they should not try to charge me late fees or try to repossess my car when I am sending my payments. I sent my payment to Coastal FCU as I was instructed so someone has had to have cashed the money and either put it towards something else or kept the money. This bank should make an initiative to find out who has done this and find out what has happened to my payments.
Final Consumer Response /* ****** ** *********** */ Coastal Federal Credit Union has found my two payments and put them towards my account.
Complaint Deposits at ATM state under $5000 are placed on 2 Day Hold and deposited amounts over $5000 are placed on a 5 Day Hold. Not true! I deposited $2900 on 6/26/14 at the Coastal Federal Credit Union ATM location 1000 Saint Albans Dr. Raleigh, NC XXXXX. The ATM deposit screen states under $5000 are placed on 2 Day business Hold and deposits amounts over $5000 are placed on a 5 Day business Hold. On 6/27/14 I deposited $100 at the Coastal Federal Credit Union ATM location 1000 Saint Albans Dr. Raleigh, NC XXXXX. Again the ATM deposit screen states under $5000 are placed on 2 Day business Hold and deposits amounts over $5000 are placed on a 5 Day business Hold. I contacted CFCU customer service on 7/01/14 to inquiry about the 2 Day business Hold as the funds deposited on 6/26/14 and 6/27/14 were not available for usage. The first person I spoke to at customer service stated they were unsure why the funds weren't in my account for usage and they could see a Hold on the account. I informed customer service the bank the check's had been written had removed in the amount of $2900 and $100 and had been sent to CFCU on 6/30/14. The customer service representative stated she could submit a request to have researched. I stated in the meantime what happens to my automatic drafts for my mortgage, insurance etc.?? The representative stated she would transfer me to deposit and after 10 minute hold another representative came on the phone and said they needed to transfer me and then I received a voice-mail for some unknown person. I decided to use the CFCU Secure Message Center and have yet received a response. You can find assistance with CFCU if you owe money, but if they owe you there's nobody that will respond. I guess I need to make a branch visit an attorney if not resolved soon.
Desired Settlement I want my money to be available in the account and any overdrawn charges attached by coastal or any business declined fees because of CFCU to be reversed or paid by CFCU.
Final Consumer Response /* ****** ** *********** */ I went in person to their branch location in Garner, NC and was assisted by a representative at Coastal. Unfortunately, they had no explanation of why a hold more than two days was done manually, but assured me they would reimburse any extra fees incurred and has removed the hold as of July 3, 2014. Hopefully, their customer service and deposit group will improve, so that nobody else is inconvenienced by with holding their funds.
Complaint This local Company is hindering my ability to purchase a home I have been a loyal member of coastal federal credit union for at least 10 years. I became a member when I was young and foolish and did not know much about credit. I got behind on car payments at times but during those 2 times I financed a vehicle through this CU both loans were paid off. I have a credit card through this bank, checking, savings, ira and a cd. Though I have been a long standing member of the bank I have received absolutely no help in trying to do one simple thing. I want to purchase my first home and the late pay reporting is hindering my ability to be able to do that. I have tried to contact the Credit Union directly but have received no help. They boast of being such a great place to bank and people friendly etc but what I ask is simple. I am not trying to get a loan, or money or anything else from them. I simply would greatly appreciate if credit reporting was updated so I don't have this mark on my report.
Desired Settlement The only restitution I seek is for credit reporting to be adjusted to simply showed paid in full on my loans, which they both are. This would be for both myself and my wife 237597782
Business Response /* ****** ** *********** */ ATTENTION BBB: iF YOU INTEND TO POST THIS, PLEASE REDACT THE SOCIAL SECURITY NUMBER PROVIDED BY COMPLAINANT.
Coastal has spoken directly with the complainant. He stated that the credit reporting is accurate. The complainant is asking Coastal to remove his late payment history and manipulate the reporting to the credit bureau agencies. He requests Coastal to show the loan as paid in full, with no payment history. Due to both regulatory and integrity reasons, Coastal is unable to grant the complainant's desired resolution.
Consumer Response /* ****** ** *********** */ Every other company that I have spoken to was able to simply report past accounts as paid and closed. Payment history is something that only CFCU needs records of and this information does NOT have to continually be reported.They have not been asked to alter information but unless someone calls CFCU directly to ask for a payment history they do not have to provide that information. In fact CFCU does not have to continue reporting my accounts at all unless it chooses to. Nobody is forcing them to report the accounts in the first place. It is a choice they have made and a choice they choose to continue to hurt my score making me unable to obtain a mortage for my first home. I absolutely am not satisfied with CFCU and as soon as I can get away from this particular bank I will and would not recommend it to anyone. You are better off with State Employees.
Final Business Response /* ****** ** *********** */ Coastal reports data to the credit bureaus in accordance with the industry standard guidelines set forth by the credit bureaus using an automated process. This reporting process fully complies with all applicable laws, regulations and the guidelines set forth by the National Credit Union Association. This automated process also minimizes errors, while providing timely and accurate reporting to the consumer reporting agencies on all Coastal borrowers.
The credit score is a reflection of the payment history on all loans reported. As acknowledged in the complaint, car payments fell behind at times. The reporting from Coastal is accurate and was confirmed by the complainant. Coastal is unable to grant the complainant's desired resolution.
Final Consumer Response /* ****** *** *********** */ (The consumer indicated he/she DID NOT accept the response from the business.) Coastal is full of lies and I hate I ever became a member years ago. Just like any other company all they have to do is report the account as paid in full. They choose to report the pay history. 7 other companies from my youth have helped me better my report and coastal "the great peoples credit union " is the only one who falls short and offers no help. Once I am in a position where I can afford to move my business elsewhere I will gladly do so and never look back. For a member who has been with an establishment over 10 years this should say something about the establishment. Poorly managed without any sympathy for its members. They have not tried at all to come to any sort of resolution other than what suits them best regardless of the fact that they are in part stopping a disabled and retired police officer from owning a home. I hope they sleep well at night
Complaint Terrible customer service, very rude when trying to get pay off information, posted payments to another person account, then reported me to credit I have had a problem since I purchased my car with CFCU in Nov. 2013, I have tried to stay in touch with them and communicate from the beginning and every person i get on the phone is very rude or doesnt have access to my account. I have had 2 payments posted to another persons account and CFCU has reported me to the credit bureau because of their error causing it to seem that my payment was late. I have had to send 3 different faxes of the same information to 3 different fax numbers over insurance because they said my car was not covered and charged me $1458 for an ins policy while all along ive sent them my policy information via fax 3 different times and apparantly no one has received anything. I also requested information as to how I could get a single payment sent to the end of my loan payoff date because my account has been considered 30 days in the rear since the very beginning, and no one will send me anything or let me move one, they are saying I have to make the extra payment for one month (meaning 2 payments at once) to catch it back up, I have been in touch with them concerning this issue several times and no one helps and everyone i speak to acts like its their job to be rude. I tried paying my payments each month online and they took 5-7 business days to process my payment and it would not post until it was processed 5 - 7 days later. They were charging me $15 to make a payment by phone, so it was either pay $15 on te phone, wait 5-7 business days for my payment to be accepted, or mail a check, which one got lost according to them in the mail so I decided not to send a check anymore because it was making my car payments late. THE WORST BANK EVER TO FINANCE WITH! TERRIBLE CUSTOMER SERVICE, TERRIBLE COMMUNICATION, HIGH INTEREST RATES FOR GOOD CREDIT CUSTOMERS, NOT DEPENDABLE, NOT IMFORMATIVE, NOT HELPFUL, AND MOST OF THE TIME HAS NO ANSWERS WITHOUT PLACING YOU ON HOLD FOR 10 MINUTES.
Desired Settlement i WOULD LIKE FOR MY LOAN PAYOFF TO BE ADJUSTED TO THE CORRECT AMOUNT AND FOR A PAYMENT TO BE MOVED TO THE END OF THE LOAN PAYOFF DATE SO THAT I AM NOT CONSTANTLY GETTING PHONE CALLS ABOUT IT WHEN I HAVE TRIED TO FIX THIS ISSUE MULTIPLE TIMES WITH NO HELP FOR CFCU.
Business Response /* ****** ** *********** */ Coastal contacted the complainant directly. The complainant stated that all issues were solved to her satisfaction.
Complaint Coastal Federal Credit Union is inaccurately reporting a balance on a closed account and preventing me from obtaining a mortgage. I have disputed an account with Coastal Federal Credit Union which is reporting erroneously on my Equifax credit bureau report. The balance on the account that I previously had with Coastal was lawfully discharged through a Chapter 13 bankruptcy on 1/29/2015. However, Coastal continues to report this account as having a balance, high credit, and payment of over $18,000. This is having an extremely negative effect on my credit score and preventing me from being able to obtain a mortgage. I have disputed this reference with Equifax to no avail. With much difficulty after multiple phone calls, I finally contacted someone at Coastal who advised me to send a letter with supporting documentation to their office in Raleigh. I was told that processing would take 7-10 business days. Over 2 weeks later, I received a response from Coastal requesting that I fill out more forms. I am complying with their request, but their unfair credit reporting and slow process is preventing me from obtaining a mortgage on a home. Please assist me in quickly obtaining resolution in this matter.
Desired Settlement I demand that Coastal correct their reporting to Equifax to reflect a $0 balance and payment on my closed credit card account. I DO NOT CONSENT TO A HARD CREDIT INQUIRY. Coastal is not to pull my credit. They must simply correct their reporting.
Business Response /* ****** ** *********** */ A letter was received from the complainant on May 1, 2015 requesting an update to his credit report. Coastal responded by letter to the complainant on May 5, 2015, asking for more detailed information. Equifax is now correctly reporting the account as "Discharged through Chapter 13 Bankruptcy" with a zero balance. Coastal did not pull credit, as requested by the complainant.
Complaint I have submitted two online disputes to have Coastal Federal Credit Union remove negative information from my credit report. In March of 2013 I co-signed for a car loan for my son that was financed through CCFU -Account # XXXXXX-X. He had a wreck in January of 2014 totaling the car. We filed insurance claim #XXXXXXXXXXXX with our insurance company. January 30, 2014 our insurance company contacted CCFU to let them know that they were processing a payment of $11,187.82. There was a balance of $1963.74 which would need to be filed on GAP insurance. GAP insurance stated that they would not process a claim until our insurance company paid the $11,187.82. Once the insurance company paid my son filed the claim with GAP. We never received a statement from Coastal Federal Credit Union to inform us that GAP only paid $1798.74 and there was an outstanding balance of $165. I did not know of the balance until it appeared as a 30 and 60 day late payment on my credit report. My son contacted CCFU to pay the balance, find out why we were not notified of the balance and find out how to remove the late payment status from our credit. The representative told my son that he couldn't remove the late payment status and would have to forward the request to the appropriate department. The late payment status was still not removed. I have disputed this twice through TransUnion online credit reports. I do not believe that this should be reported as a late status because CCFU never sent a statement or called us regarding the remaining $165. As a co-signer on the account, I should have been notified of any balance that CCFU believed was late. I had to find out about the balance when it appeared on my credit report. This would not have been an issue had we been notified of the remaining balance since we would have paid it once notified.
Desired Settlement I am seeking to have Coastal Credit Union remove the 30 and 60 day late payment status from both my son's and my credit reports.
Thank you for your time and effort.
Business Response /* ****** ** *********** */ Coastal mailed the primary borrower on the loan a letter January 30, 2014. The letter informs the borrower that Coastal had been contacted by the insurance company regarding the total loss of the vehicle. The letter stated the amount of the anticipated payment from the insurance company and disclosed the estimated remaining balance of $1,963.74. The letter further states "In addition, also be aware that until the insurance payment is received and posted to your account or your loan is paid off, your account will continue to be reported to the credit bureau as you are expected to keep making your monthly payments until your loan is paid in full."
The primary borrower contacted Coastal on February 24, 2014 to verify Coastal had received the total loss payment from the insurance company. The payment had not yet been received and the borrower was directed to call back regarding the loan status. The insurance company payment for the total loss was received and credited on February 25, 2014. A gap insurance refund check was received and processed on April 28, 2014, leaving the $165.00 balance.
The primary borrower elected to receive notifications from Coastal through e-docs (access through online banking to statements, notices, tax forms and letters). Coastal sent the borrower seven past due notices. The notices were sent at 07, 18, 21, 31, 40, 41, and 45 days past due. Coastal also continued to send a statement each month showing the loan information. Each time a notice or statement is generated, an email is sent informing the borrower a new document has been sent to Coastal e-Docs.
In light of the circumstances, Coastal has adjusted the disputed credit reporting for the borrowers. The contract signed by the complainant does not require Coastal to notify the co-applicant of the loan status.
Complaint I have an auto loan with Coastal Federal Credit Union. I have been sending checks through U SAA's automatic checking system since the inception of the loan 2/22/2013. I received a phone call from Coastal on 5NOV14 notifying me that I have not been paying my auto loan for the past five months. This is NOT THE CASE - as I was able to prove that coastal has been depositing my checks every month, but not crediting my account. After speaking to several individuals I was able to get the money credited to my account, but not backdated. As a result, I am paying interest for the non-credited months although it was a mistake on Coast Federal Credit Union's Part. This so called bank does not understand compound interest and how not backdating payments results in me paying extra. Product_Or_Service: Auto Loan
Desired Settlement Backdate payments to deposit date and credit my account the interest accrued from the error.
Business Response /* ****** ** *********** */ Coastal has called the complainant to apologize for the inconvenience he has experienced.
The complainant's loan payment method was changed from a paper check to an electronic funds transfer. During the switch from paper to automation, the account number was entered incorrectly.
The account number has been corrected and the loan has been recalculated, so the correct amount of interest has been charged on the loan.
Coastal appreciates the complainant bringing this situation to our attention, so that it could be corrected properly. The Coastal employees involved in this matter will receive additional training for improved handling of this type of error.
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