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Business Profile

Credit Union

Capital Educators Federal Credit Union

This business is NOT BBB Accredited.

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Reviews

Customer Review Ratings

1

Average of 1 Customer Review

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Review Details

  • Charity H

    Date: 02/25/2024

    They will charge you for insurance on your loan without your authorization, raise your payments all while already receiving the documents for proof of insurance at the time of the loan closing but refuse to verify it and then when you continue to send the information or your insurance agent sends it they refuse it. They say it is not their job to verify the insurance. They refuse to take the insurance off our loan and refuse to put our payments back where they are supposed to be. We have been fighting this for 3 months and still no resolve. I would advise anyone who is even looking to get a loan from them to STAY FAR FAR away. They will report that you are over the limit as well to the credit bureaus for months because of the unauthorized insurance they add to your loan. Which in our case is $12K and somehow that $12K doubled our monthly payment!! They will discriminate against you if you are not from the area. It has been an absolutely awful experience!I have emails showing that insurance information was supplied at the time of closing the loan along with constant communication showing the contact information to the insurance agent for them to verify and yet I was told it was not their job to verify the insurance!! This 12K needs removed from my account and my approved loan amount back to what I agreed to along with my payments. yet they continue to refuse to do it and refuse to verify the insurance!!

    Capital Educators Federal Credit Union

    Date: 02/27/2024

    In this case, the insurance documents provided did not include the requirement to list CapEd as a lien holder or loss payee, nor did the deductible meet the maximum allowable amount. The borrower was notified of these requirements a minimum of 9 times. Neither of these requirements can be requested by CapEd; they must be requested by the borrower. As a result, insurance was placed on the collateral, per the borrowers signed agreement.

    Once an acceptable policy was presented, the force-place insurance was refunded and adjustments will be made to the loan and credit bureaus.

Capital Educators Federal Credit Union is NOT a BBB Accredited Business.

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