BBB Accredited Business since

Capital Educators Federal Credit Union

Additional Locations

Phone: (208) 884-0150 Fax: (208) 855-4727 275 S Stratford Dr, Meridian, ID 83642 View Additional Email Addresses http://www.caped.com


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Description

This company provides all types of credit union financial services.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that Capital Educators Federal Credit Union 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 the rating for Capital Educators Federal Credit Union include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 5 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

5 complaints closed with BBB in last 3 years | 2 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 1
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 4
Total Closed Complaints 5

Customer Reviews Summary Read customer reviews

3 Customer Reviews on Capital Educators Federal Credit Union
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 3
Total Customer Reviews 3

Additional Information

BBB file opened: September 14, 1998 Business started: 03/01/1936 Business incorporated 01/01/1936 in
Business Management
Mr. Todd Erickson, President/CEO Ms. Trudi Mayes, VP Member Services Ms. Jessica Bevis, VP Branch Operations Ms. Kathy Palumbo, VP Marketing
Contact Information
Principal: Mr. Todd Erickson, President/CEO
Principal: Ms. Trudi Mayes, VP Member Services
Business Category

Credit Unions

Hours of Operation
M: 8:30 AM - 5:30 PM
T: 8:30 AM - 5:30 PM
W: 8:30 AM - 5:30 PM
Th: 8:30 AM - 5:30 PM
F: 8:30 AM - 5:30 PM
Drive through is open until 6:30 PM Monday through Friday.
Service Area
This company serves the Treasure Valley area.

Customer Review Rating plus BBB Rating Summary

Capital Educators Federal Credit Union has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 275 S Stratford Dr

    Meridian, ID 83642 (208) 884-0150

  • PO Box 570

    Meridian, ID 83680

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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.

Complaint Detail(s)

12/30/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I paid my ******* *** *** off Oct 20 2015 and have not received my title. I contacted them and they said that it had been sent to my old address and had just returned that I had to send a change of address so they could send it to me.I did that and waited and called again and was told that it was was in the mail I waited again and called and was told that they didn't know where it was I told them that they needed to attempt to find it and call me about the problem the next day. they did not call all I want is my title for my *** witch they had and can't find sincerely virgil

Desired Settlement: get my title

Business Response:

 Our member stated he did not receive his title when he paid his loan in full on his ******* *** ****  The member’s title was mailed on 11/3/15 but was returned to the Credit Union due to a bad address.   Member was sending a signed, updated address change request on 11/17/15 so we could resend the title.  The address was updated on 11/24/15.  The title was resent to the member on 12/2/15. The Credit Union called the post office to attempt to locate the title. The post office did say the member had a forwarding address, but would not disclose any other information.   The Credit Union has attempted to call the member several times since 12/21/15 to verify if he now has his title, but have not been able to connect with the member or leave a voice message.  A letter was sent to the member on 12/28/15 to ask if he now has the title and to apologize for any inconvenience this may have caused. 

***** *****

 

12/17/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I refinanced a **** ******* ******* on 3-6-15. I stated multiple times that this most likely would be a short term loan and asked about fees, refunds, pre-payment penalties, and specifically asked the loan officer is there was anything I should ask that I hadn't already. The answer was no. While signing paperwork, I was offered GAP protection. I was told the benefits of protection and agreed to sign up for it. I was charged an additional $395 (according to paperwork) for this. On 10-5-15, the loan was paid off. I hadn't receive a refund for my GAP insurance after 6 weeks, so decided to go the credit union for more information. I first went to the CapED branch on **** and attempted to see if I needed to get paperwork to get a prorated refund on my GAP insurance. The teller seemed confused by this request and had to ask someone else about it. After a few minutes of waiting, she returned and stated she couldn't find anybody, but was going to ask another manager. After another 3 minutes or so, she returned and said there was only a 60 day refund policy. According to their website ( https://capedfcu.q2solutions.com/ConsumerSite.asp?Page=43&LMPage=GAPFAQCategory&Category=purchasing#gapbenefits ), you get "Low cost protection with a 60-day free look". Because this wasn't the main branch, the lack of training and how long it took to get an answer, I decided to go to their main branch. At the main branch, I asked the teller if I could have some paperwork to get a prorated refund on my GAP insurance. She too, had a confused look on her face. This time instead of leaving me at the counter by myself, she made several phone calls. After the 4th call, I was told that there was a 60 day refund policy. I asked to see a loan officer and after a 5-7 minute wait, someone greeted me and asked me to go to their office. He grabbed my information and looked up my account. I asked the loan officer about a prorated refund. He asked if I had contacted the dealership about getting the refund. He continued to explain that they would be the one holding the paperwork and that I shouldn't have an issue getting the refund. I explained that I did all paperwork in the office next to his and there was no dealership involved. He too had to make a couple of phone calls. While the loan officer was on the phone with the last person, I was again asked if I had gone to the dealership to get the refund. I explained that it was all done at this branch. After telling them that, I was again told that there was only a 60 day refund policy. I asked about getting something in writing, and he made another call to find out how to print out the original paperwork. He continued to explain that GAP insurance was $495 and told me that if I call 1-800-711-4280 and go directly to the source, I may have better luck. He mentioned $495 multiple times as the price of what I paid, but my paperwork stated $395. After leaving the branch slightly upset and even more confused, I called the number he provided. The lady that answered the phone apologetically said she could not assist with what I was asking. She worked in a claims only department. I asked if there was a different number I could call. She said there was no other number that she was aware of, offered her apology again and asked if there was anything else she might be able to assist with. I apologized for wasting her time and thanked her for the information. I went back to the CapED website to find out more information about GAP. After following a few links, I received a warning about the accuracy of content on 3rd party sites and had to click OK. I was taken to https://capedfcu.q2solutions.com/ConsumerSite.asp which states $495 for gap. After following a couple more links, I found something that stated that Gap insurance was handled through QBE. http://qbena.com/policyholders/consumer-education-center/auto.aspx is what I found. At this point I have spent several hours calling, driving to different branches, and talking to multiple people. I've received incorrect information, met numerous people that apparently don't know their own policies and have been told there was only a 60 day refund policy.

Desired Settlement: After having the loan for only 7 months (of a 60 month loan), I would like a prorated refund of my GAP insurance. Additionally, I think it would only be fair to state on their website that this is not refundable after 2 months instead of "getting a 60 day free look". In the very least, put a * next to that statement and give an explanation at the bottom of the page.

Business Response:

*** ******* purchased Guaranteed Asset Protection (GAP) on 03/06/15.  The fee was $395.00 at the time of purchase.  As he mentioned, there is a link on our website which outlines frequently asked questions and benefits of purchasing GAP.  One of the benefits mentioned is the  low cost with a 60-day free look.  In addition to the general information on our website, we always have our members read and sign a GAP Waiver Addendum once they have decided to purchase GAP.  *** ******* signed the GAP Waiver Addendum which defined the coverage, exclusions and cancellation terms.  The Addendum  states, on page 1 and on page 3, that it may be canceled for a full refund within 60 days of the effective date and if the cancellation is received after 60 days there is no refund.

 

***** *****

6/11/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I attempted to make a $1000 cash principal reduction to my auto loan via the drive through at the McMillan branch on 05/08/15. Branch employees (multiple) explained that the system does not allow for a principal only payment and that my only options were 1) wait until my billing date of 05/20/15 to pay down principal, or 2) apply my $1000 to a P&I payment on 05/08/15, and still have my standard scheduled 05/20 P&I payment drawn automatically. This is a problem because: 1) my loan document says I can prepay my loan at anytime with no indemnity; 2) the banker that closed my loan and the underwriter that worked my loan confirmed that I could pay down principal only at any time; 3) it will cost me slightly more interest ($5.27); 4) it will require me to make another trip to the branch on 5/20, which is difficult for me to accommodate. I already left work early and made a special trip to the branch for this transaction once, and dislike that I must do it again.

Desired Settlement: The business needs to educate tellers and all branch personnel about proper payment handling and loan closing procedures. Those closing loans and accepting payments should understand the different components of interest accrual and legal processes required per the loan documents. I would like an adjustment/refund for any interest accrued on my loan between 05/08/15 (date I attempted to make a payment) and 05/20/15 (the scheduled billing date I was told I had to wait for to make a payment), assuming a $1000 principal reduction. Per my calculations, the difference in interest accrued between this period is $5.27.

Business Response:

CapEd has been unsuccessful in attempts to contact our member for resolution of the complaint. Since receipt of this complaint, we have investigated the specific loan, and the capability of our processing software to manage principal-only payments. Our intention is to apply the $1,000 payment with an effective date matching that of the original request and refund the complainant any excess interest paid as a result of not allowing the requested principal reduction. Additionally, we are evaluating internal policy/procedure with a goal to allow principal-only payments be made to consumer loans; any changes to internal policy/procedure will be followed by training for all appropriate employees.

2/5/2014 Billing/Collection Issues | Complaint Details Unavailable
11/1/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: They boast that they have an automatic transfer system that allows for your transactions that overdraft your account to be covered by your savings account. However, this system is convoluted, there is no written policy on how these transfers are processed. These are convoluted banking policies meant to elicit more fees. Their system hides transactions from the ledger and processes them separately so as to max out the number of transfers to cover the balance. This causes the account to use all 6 Federally allotted automatic transfers from savings into checking. Then the courtesy overdraft fees begin to add up. So, your accounts automatically transfer funds into your checking before it has over drafted- using up all of your automatic transfers before they are necessary.When approached about this problem, customer service was sub par. It was explained to me repeatedly how the system works- that, by federal regulation, each account is only allowed 6 automatic transfers. Then courtesy fees have to cover any further transactions. Why funds were transferred before necessary was not addressed directly. They were apologetic for the inconvenience but unwilling to change the system. They said they are working on changing the system but cannot do anything about it at this time. I was denied information on why and how the system processes these automatic transfers as there is no policy or information available to consumers. I am very disappointed. I have been with this credit union for ten years, and I was dismissed in a ten minute conversation. I was given the option to attend board meetings and write to the board members to have my concerns heard. I felt that publicly stating this problem would be of more service. Do not be a financial victim of this credit union's poorly designed system and representatives' lack of concern with the irrational procedure. They were completely misleading about what this automatic transfer system offers. And unable to produce policy about how the system works.

Desired Settlement: Refunded the courtesy pay fees. Produce information on how automatic transfers are processed- why they can, with no reason or policy guidelines, transfer funds repeatedly and unnecessarily from savings. This maxed out those automatic transfers allowing them to begin implementing "courtesy pay" policy and profit from fees on my account.

Business Response:

 

The member called our Contact Center on Thursday, October 17th about 9:15 a.m.   The call was escalated to the Contact Center Manager.  At this time, the Credit Union’s savings accounts are non-transactional accounts and are limited to six automatic transfers per month without a signature from the account holder. The member had reached her maximum allowed transfers and she had made several non-PIN transactions with her debit card.  Once these debit card transactions occur, a hold is placed on the checking account to ensure funds are available for this purchase, since the purchase was approved for the merchant.  Once the transactions post to the checking account the hold is released.  The member also has Courtesy Pay available on her account, so when an additional purchase was made she received our $23 Courtesy Pay Fee to cover this approved purchase since the checking account did not have enough balance available.  A transfer from savings was not available due to the Reg D monthly limit.

 

The Contact Center Manager explained this process to the member and sent her a follow-up email at ***** ***. on ******* **** with more details.  She reviewed the new account disclosures and sent the member a new copy for her files.  She also immediately refunded the member her $23 Courtesy Pay Fee.  She provided the member with some suggestions on using her PIN on purchases if she didn’t want funds to go on hold, as these purchases will immediately post to her account.  She also advised her to login online and do one large transfer to her checking account before making any purchases so the funds would not have to transfer from her savings for each individual transaction and she would not exceed the six transfer limit. 

 

Below are a couple key areas in our disclosures that were reviewed with the member:

 

***Point of Sale (POS) Transactions. You may use your card to pay for purchases at places that have agreed to accept the card. Purchases will be covered by funds deducted from your designated checking account, subject to the limitations described in this Agreement and Disclosure. The available balance in your account may be reduced by the amount of any transaction as soon as the merchant has received authorization from us, even if the documentation evidencing the transaction has not yet been received and processed by us. A merchant is not required to receive prior authorization from us on every transaction. When the documentation has cleared through us, any hold placed on your account for the amount of the purchase or other transactions will be released and your account debited for that amount.

***REGULATION D TRANSFER LIMITS. Reg D imposes a six transfer/withdrawal limit on savings accounts, which includes the following types of transactions: preauthorized or automatic withdrawals; telephone transfers; and transfers initiated by personal computer to another account at the same credit union or to a third party during a calendar month. Transactions not included in the six transfer/withdrawal limit include: Credits to an account; transfers from a credit union account to the same credit union for purposes of repaying loans and associated expenses; and transfers or withdrawals you make in person, through an ATM, by mail, by messenger, or by telephone (which results in the mailing of a check to you). If you request more than six Reg D transfers during a calendar month (including automatic transfers from savings to checking) we are prohibited from making the transfer. Your checking account will be charged overdraft or insufficient fund fees to pay or return items not covered by a transfer of funds or an overdraft plan.

At CapEd we are always looking for ways to improve our processes and service to our members.  We welcome feedback and suggestions on how to accomplish this.  The Contact Center Manager did explain we are actively reviewing how to make changes to our savings accounts and to our authorized hold processes to see where improvements can be made with our core processor.    Please let me know if you need any further information.

Thank You!


Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

3 Customer Reviews on Capital Educators Federal Credit Union
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
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