Capital Educators Federal Credit Union

In May 2016, CapEd Credit Union contacted Ms [redacted] to notify her that her vehicle loan was delinquent During their conversation, it was determined that the delinquency was due to force-placed insurance that had been added to her loan on 10/28/2015, raising her loan payment by $ In her complaint, Ms [redacted] states that CapEd didn’t notify her about the insurance being added, but she received notices from CapEd stating that we needed proof of insurance or we would be adding insurance After we added the insurance, she received another letter from CapEd notifying her that the insurance was added In July 2016, CapEd Credit Union contacted Ms [redacted] again to ask if she would provide us with proof of insurance from her insurance company Ms [redacted] gave our staff member the name and phone number of her insurance company Our staff member contacted the insurance company and discovered that CapEd was not listed as a lienholder of the loan and that’s why they never sent us a notice of insurance Our staff member worked with Ms [redacted] ’s insurance company to get everything straightened out On August 15, 2016, Ms [redacted] wrote a scathing post on CapEd’s Facebook page which was discovered the next day and immediately forwarded to our loan department to investigate On August 16, 2016, Ms [redacted] received an email from our staff member that the delinquencies would be removed from her credit report within to business days, and that we refunded the full amount of the force-placed insurance Ms [redacted] replied to that email on August 23, stating that her credit report had been corrected and she updated her rating on FacebookShe then thanked our staff member “for the quick attention to this matter.”

*** *** purchased Guaranteed Asset Protection (GAP) on 03/06/15. The fee was $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 and on page 3, that it may be canceled for a full refund within days of the effective date and if the cancellation is received after days there is no refund. *** ***

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/but was returned to the Credit Union due to a bad address. Member was sending a signed, updated address change request on 11/17/so
we could resend the title. The address was updated on 11/24/15. The title was resent to the member on 12/2/The Credit Union called the post office to attempt to locate the titleThe 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/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/to ask if he now has the title and to apologize for any inconvenience this may have caused. *** ***

Complaint: ***I am rejecting this response because:
They are lying!!!
scathing review on Facebook? I wrote a factual statement! Also, it was their error and they're trying to make it seem it was mine.
Not acceptable!
Sincerely,*** ***

In May 2016, CapEd Credit Union contacted Ms. [redacted] to notify her that her vehicle loan was delinquent.  During their conversation, it was determined that the delinquency was due to force-placed insurance that had been added to her loan on 10/28/2015, raising her loan payment by $300.00. ...

In her complaint, Ms. [redacted] states that CapEd didn’t notify her about the insurance being added, but she received 3 notices from CapEd stating that we needed proof of insurance or we would be adding insurance.  After we added the insurance, she received another letter from CapEd notifying her that the insurance was added. 
In July 2016, CapEd Credit Union contacted Ms. [redacted] again to ask if she would provide us with proof of insurance from her insurance company.  Ms. [redacted] gave our staff member the name and phone number of her insurance company.  Our staff member contacted the insurance company and discovered that CapEd was not listed as a lienholder of the loan and that’s why they never sent us a notice of insurance.  Our staff member worked with Ms. [redacted]’s insurance company to get everything straightened out.
On August 15, 2016, Ms. [redacted] wrote a scathing post on CapEd’s Facebook page which was discovered the next day and immediately forwarded to our loan department to investigate. 
On August 16, 2016, Ms. [redacted] received an email from our staff member that the delinquencies would be removed from her credit report within 3 to 5 business days, and that we refunded the full amount of the force-placed insurance.
Ms. [redacted] replied to that email on August 23, 2016 stating that her credit report had been corrected and she updated her rating on Facebook. She then thanked our staff member “for the quick attention to this matter.”

Mr. [redacted] contacted CapEd this morning and spoke with one of our Contact Center representatives.  She was able to assist him with resetting his online password and she reversed the fee associated with the issue he was having.  As far as we know, the problems he was having have been...

resolved.  If he has further issues, we encourage him to contact us right away.

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.