Derby City Tree, Inc.

Dear *** ***,This complaint is in reference to our financial institution's consumer lending repayment agreement as it pertains to our small loan productOur member believes that her first loan payment was automatically applied well before the due date.As stated in our Loan Agreement, the
equivalent of one month's payment is pledged to secure the loan and is therefore not available for withdrawal purposesThis language is contained in the Loan Agreement, which was subsequently signed by our member.Because these funds are held and not available for member use, it is perceived that the funds were applied to the loan accountThat is not the case; the member's first payment is still due days from the Loan Agreement dateWhen a member signs our Loan Agreement, they are agreeing to all of the terms and conditions of the loan.At this point, since all terms and conditions were fully disclosed, no further action is required regarding this complaint.lf li can be of further assistance, please don't hesitate to contact me

Please be advised that we have resolve the referenced code ID #[redacted] Attached is a letter sent to the complainant. If you have further questions concerning this case please contact me on ###-###-####

September 25, 2015To Whom it May Concern:This letter is in response to our member's concern regarding an extended hold placed on a deposit made at a CO-OP shared branch location. The member did not have the benefit of the funds until several days after the deposit had been made. The primary reason...

for the delay in availability was due to the size of the deposit and the credit union's inability to verify the funds at that time.When our member requested an explanation of the delay in funds availability, the department supervisor did respond back via secured email and explained the reasons. It is unfortunate that the member did not understand or accept the explanation and perceived this as poor member service.However our Funds Availability Disclosure clearly explains the occurrence of delayed availability. Credit union staff members are trained to advise members of the possible delays in shared branch deposits, and with this particular shared branch used by our member, their receipts are stamped "Funds from deposit may not be available for immediate withdrawal". At this point, it is the member's responsibility to know and understand their credit union's policies as it pertains to Funds Availability.In reference to the member's desired outcome, there is no further resolution that needs to occur as it pertains to this transaction. All funds have now been made available for the member's use and based on our records, there are no late fees resulting from this transaction.If there are any further questions, please don't hesitate to contact me at ###-###-####.Sincerely,Deborah P.NCCO AVP/Member Services