We use cookies to give users the best content and online experience. By clicking “Accept All Cookies”, you agree to allow us to use all cookies. Visit our Privacy Policy to learn more.

Manage Cookies
Resources for Businesses My BBB
Share
Business Profile

Credit Union

Vystar Credit Union

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Credit Union.

Information and Alerts

Service Area

  • USA

Alert Details

This business has 1 alert.

Government Actions

CFPB Orders VyStar Credit Union to Pay $1.5 Million for Illegally Stranding Consumers from Accessing Their Money and Accounts

"On October 31, 2024, the Bureau issued an order against VyStar Credit Union. In May 2022, VyStar attempted to launch a new online and mobile banking platform with a new and untested provider. The new system crashed upon launch because VyStar brought it online prematurely and failed to establish or follow critical processes to ensure its success. The online and mobile banking platform was taken offline soon after the conversion; and initially when it returned, it lacked key banking services, some of which were not restored for months. The outage and subsequent limited functionality of the banking platform impacted VyStar members in significant ways, including the assessment of fees for failures to make timely payments, restricted access to their funds, and the inability to effectively manage their accounts. 


The Bureau found that VyStar’s planning, and implementation of the conversion constituted an unfair practice in violation of the Consumer Financial Protection Act of 2010 that caused financial and non-financial harm to VyStar’s members, including fees, costs, and inconvenience. The order requires VyStar to come into compliance with the law, establish a governance committee to ensure proper management of projects involving consumer facing banking systems, ensure that all consumers owed redress have been paid, and pay a $1.5 million civil money penalty."

BBB Business Profiles may not be reproduced for sales or promotional purposes.

BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.

As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.