CoVantage Credit Union

In the past CoVantage Credit Union has offered eligible loan applicants an opportunity to receive .25% off the applicable interest rate on a qualifying consumer loan when they apply using our online banking channelWhile in effect, this offer was clearly advertised in several places on our public
website and within our online banking pagesWe discontinued this offer on October 24, At that time we believed we had removed all reference to the promotion from our public site and online banking pages.We did however, inadvertently leave one line of text on a web page within our online banking pagesThis line of text did contain a typographical error that omitted the decimal from our former offer for .25% off a consumer loan rateWe were notified on May 7th by the complainant that this offer was on our online banking pageand it was removed by us within hours.We did offer to provide this individual the .25% discount off the rate for the consumer loan they applied for on May 7th, but they declined to accept this offerIf the individual would like to proceed with the consumer loan for the dollar amount they originally applied for, we would be happy to honor the .25% loan rate discount (provided the collateral and other criteria normally required to obtain a loan still meet our underwriting requirements).Please advise the individual who has filed this complaint to contact me directly if they would like to proceed with their original loan applicationI can be reached at ***.Sincerely,*** ** ***SVP Chief Administrative Officer

Review: The website of Co vantage Credit Union in Antigo, WI advertised a 25% discount on a loan as long as I applied for it online. I did so, and I was later told that the advertised deal will not be honored, even though the advertisement remained on the site. They Instead offered me a negligible .25% reduction in interest on a loan that is less than $2000. This amounts to mere dollars, far less than the advertised discount.Desired Settlement: I want either the advertised discount, or a similarly priced offer that is greatly more substantial than .25%.

Business

Response:

In the past CoVantage Credit Union has offered eligible loan applicants an opportunity to receive .25% off the applicable interest rate on a qualifying consumer loan when they apply using our online banking channel. While in effect, this offer was clearly advertised in several places on our public website and within our online banking pages. We discontinued this offer on October 24, 2014. At that time we believed we had removed all reference to the promotion from our public site and online banking pages.