Columbia Credit Union

Complaint: ***I am rejecting this response because:I can see now that Columbia Credit Union is not going to deviate one iota from their initial position of not accepting responsibility for the bogus rate they quoted instead choosing to pass it off on their intermediary bank. It's amazing how disgraceful the tactics of a company that is so desperate for income that they will defraud their own customers and then make up excuses and denials when questioned. Columbia Credit Union should be ashamed of how they stole my money on this transaction but I know they're not and they would do it again in a heartbeat. I will do all I can to warn people of this financial institutions deceitful business practices and I do not accept their response as being one that is honest or fair. Quoting ridiculously low exchange rates in the hope that the customer won't notice that they are getting screwed is a criminal act in my opinion. Columbia Credit Union will try and get away with stealing as much as they can by exchanging the funds at a rate that benefits them and their agents. If the customer complains, they will just refuse to accept responsibility as they did in my case. I'm sure this is not the first time they've managed to defraud a customer this way and I'm sure it will not be the last.This matter will now be pursued with my attorney as I have been assured that this case is an excellent example of active misrepresentation by Columbia Credit Union. The misrepresentation they committed through their silence on the fact that the rate they quoted was an arbitrary rate that has no correlation to the actual exchange rate for that currency amounts to a hidden fee WHICH THEY NEED TO DISCLOSE IN ADVANCE. This silence, also known as failure to disclose, is a form of fraud. Columbia has a fiduciary duty to act solely in another party's interestsFiduciaries may not profit from their relationship with their principals unless they have the principals' express informed consentThey also have a duty to avoid any conflicts of interest between themselves and their principalsColumbia Credit Union breached their fiduciary duty with me when they failed to inform me that the rate they exchanged my money into a foreign currency was so low and inconsistent with the actual rates. That omission on their part resulted in an immediate loss of funds even before the wire transfer was sent I will make sure that the word gets spread that people need to be aware that Columbia Credit Union will attempt to convert your money at the lowest rate they think they can get away with and the customer will suffer an instantaneous loss even before the wire transfer is sent. The mistake I made was trusting that this company would conduct business in good faith only to find that they did just the opposite and swindled me out of $380. Sincerely,*** ***

Mr***, Columbia Credit Union has researched your compliant, thefollowing is the result of our research. At the time the international wire was requested, weprovided and you signed a copy of the Foreign Exchange Wire Receipt, which disclosedthe agreed upon Exchange Rate. These
exchange rates are not set byColumbia Credit Union, as the wire is processed through an intermediary bank, whichprovides the exchange rate. Per the Foreign Exchange Wire Receipt, youwere provided the exchange rate, all fees in which Columbia Credit Union isaware of and can confirm, as well as the timeframe for cancellation in order toreceive a full refund. The credit union has fully disclosed the necessaryinformation in writing prior to the wire being sent. Please feel free to reach out to me if you’d like to discussfurther. Thank you, *** ***VP Support Services

July 13,
*** ***
*** *** *** *** ** ***
Dear *** ***,
We are in receipt of your complaint submitted to the Revdex.comI have researched your concern and the following is the results of my research
We received a
loan application for you and *** *** on May 16, for a Dodge Charger. The loan documents were signed and completed with the funds being sent to the dealership on May We then received a payoff from the dealership on June The dealership never requested we cancel the initial deal, they simply paid it offThis is why the loan shows on the credit reportThe payoff information showing the updated balance of $was submitted to the credit bureau on July 8th
I am happy to provide you with a document showing the $loan balance for your recordsPlease respond letting me know where you would like it sent and I can do that as soon as I receive your response. Feel free to contact me at 360-619-if you have further questions
Respectfully,
Lindsey S***
Senior Vice President / Chief Experience Officer

Mr***,Columbia Credit Union has researched your complaint, thefollowing is the result of our research.When you signed your loan documents with Columbia CreditUnion, you also signed an Agreement to *** *** on your vehiclesecuring the loanYou also signed the Retail Install Contract
addressinginsurance requirements, which together detail your responsibility in providingthe required insurance coverage. Sincewe did not receive proof of insurance, Collateral Protection Insurance (CPI)was purchased by Columbia Credit Union, and the premium of $4,480.00, was addedto your loan balance on 9/23/2014.Following several letters / notices in August regarding the needfor proof of insurance, a notice was sent to you on 9/23/informing you ofyour new loan payment in the amount of $909.81, which was increased to coverthe premium for the Collateral Protection Insurance (CPI). The letter explained the payment would be changedback to the original amount after completing nine payments at the new paymentamount. After the final letter was sent,we received notice that you had an insurance policy, however it did not havethe required comprehensive and collision coverages for the time period of6/18/- 7/31/The original CPI premium posted on 9/23/was for afull year premium of $4,On 10/3/2014, Columbia received a partialrefund of $3,674.00. This left a CPIpremium of $806.00, and two payments of $to cover the lapse in proper coveragefrom the 6/18/2014-7/31/time period. We’ve continue to receive your monthly payments however, two(one in October and one in November) were for the original loan payment amountexcluding the insurance, causing the late notices and late payments on yourcredit report. The two payments of$were made on 10/and 11/and these payments did not fulfill the fullpayment obligation. In November thepayments were reamortized to $per month for eight months to satisfy theCPI premium, and lower the monthly payment from $909.81. Once the CPI premium is paid in full, yourmonthly payment amount will return to $per the original terms of theagreement. Today the loan is current andreporting accordingly.Please let me know if you have any further questions.Thank you,***VP SupportServices

Dear *** * ***, This letter is in response to your complaint filed with Revdex.com on September 25th and your follow up complaint filed September 29thIn your complaint you addressed your concern that Columbia has been unwilling to work with you in resolving your delinquent
accountWe respectfully disagree with this statementIn researching your account history I can see in the last months we have worked with you almost monthly over delinquent loan and deposit accounts at ColumbiaIn the most recent delinquent situation referenced in your letter, the personal line of credit and Visa credit card were charged off based on your share account sitting in a negative balance for over weeks, your personal line of credit was over days delinquent and your Visa credit card was over days delinquentAt this point in time the credit union has not taken any funds from your share account or paycheck to cover either of your charge off loansYou should receive a letter from us within the next week or two explaining next steps for the loan charge offIn the meantime if you would like to work out a payment plan, please contact our Lending Solutions Supervisor Amber L** directly at *** extension *** and she would be happy to work with you on thisIf you are unable to reach Amber or have further questions, please feel free to contact me directly at *** Lindsey S*** Senior Vice President Service Delivery & Project Management Columbia Credit Union

Complaint: ***I am rejecting this response because:I trusted that Columbia Credit Union was converting my funds at an exchange rate that reflected the true value of the amount of US dollars that I was converting. The rate that they converted my funds to resulted in an immediate loss of value because the rate was a contrived rate that had no correlation to the actual rate for that day on the foreign currency exchange market. This is a fact that even before the wire transfer was transmitted, the amount that I instructed them to send did not equal the amount the took from my bank account. This fact is not addressed in their response and is a material fact that should not be ignored although they insist on doing so.As a financial institution, Columbia Credit Union has more information about these type of financial transactions than the average consumer such as myselfBecause of this advantage, they have a duty to disclose the material facts regarding fees and costs to me prior to the purchase of this type of service and they did not act in good faith when they withheld this information from me. Columbia Credit Union and their agent, *** ***, profited from this transaction as soon as they converted the funds from my account and prior the the wire transfer being submitted. They continue to deny any wrong doing but yet the facts speak for themselves and there is no debate as to what the exchange rate for that day was as it is a matter of public record. Columbia Credit Union committed fraud by failing to disclose to me that the currency exchange rates that they use, regardless of the source, have absolutely no correlation to the actual rates for that currency as they are reflected on the foreign currency exchange market. This fact needed to be disclosed to me and was not. Why wasn't it? The upshot of this case is that I suffered a loss of $as a result of Columbia Credit Unions deceptive business practice of not converting funds at the proper rate and they profited from my lack of experience in matters such as this. They have an obligation to disclose to me that the artificially low rate that they exchanged my US dollars would cause me to lose money and this fact constitutes fraud. Those are the facts and they are irrefutableSincerely,*** ***

Columbia Credit Union hires an outside vendor to process our payments for our Visa credit card program.  Members may choose to make their payments at our office, however, the payment information is forwarded to the vendor for processing with the correct effective date when the payment was...

received in the office.  The member made his payment at our office on 5/9/18 and his Visa credit card statement reflects the correct payment date.  We cannot control how quickly the vendor updates their systems to reflect payments, we can merely ensure the effective dates are correct from when we received the payments.

Good afternoon [redacted],I'm sorry for the frustrating experience you had locating your account information and making payments. My understanding is you've now spoken with our Vice President of Support Services Leslie C[redacted] and have all your account and payment information. She also provided her direct...

contact information should you need anything else in the future. Based on this my understanding is the situation has been resolved.Thank you,Lindsey S[redacted]SVP/COO Columbia Credit Union