Elements Financial Federal Credit Union

Thank you for the honest feedbackSince you posted your comments, we’ve been happy to work with you and your partner to clarify this issueAs you know, we have fraud controls in place to protect our members including security words, questions, and phone number verificationEach of these items was a factor impacting your inquiryWe appreciate your patience and understanding as we worked through these issues to process your applicationNow your credit card is in process, and we look forward to serving your needs in this product areaMany thanks for your business and confidence in the credit union

On June 13, 2014, Ms [redacted] initiated an electronic loan payment from her financial institution to Elements Financial (f/k/a Eli Lilly Federal Credit Union) The payment was processed through the ACH system according to NACHA rules (Section 3.3), as originated by Ms***'s bank with a settlement date of June 16, All of the transactions were electronic.I have attached a copy of the ACH (Automatic Clearing House) report I have highlighted the Post Date and the Effective/Settlement Date The payment was posted to Ms***'s loan ending [redacted] on the date the funds were made available to Elements Financial.Additional attachments include a screenshot of Ms***'s loan account showing the date the payment was electronically posted to the loan and the Payment Detail Report.The payment in question was posted to the loan on the settlement date as dictated by the originating financial institution.Submitted By:Terri [redacted] Member Solutions ManagerElements Financial317-524-

Elements Financial would like Mr [redacted] to understand that Elements Financial and [redacted] are direct partners of [redacted] ***His original auto loan application was made through [redacted] ***We have confirmed this with our partners at [redacted] [redacted] ***’s disclosures as attached clearly state that they work with partners that will make a credit pull during the processIn fact, the applicant agreed to said disclosures at 8:PM on 8/14/when he submitted his application, which required entering the last digits of his Social Security number to the page as shown in the attachment [redacted] will not allow an applicant to submit an application without agreeing to these terms firstIf this consumer has further questions or concerns, he may wish to contact [redacted] directly to verify the information within this statementWe have thoroughly checked the facts of this scenario and hope this inquiry can now be settledThank you

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below.The amounts they are reporting are not accurate Regards, [redacted] ***

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below.I am glad to have the spelling of the name of the person I spoke with, I found her to be rude and condescendingI am confident that no such disclosure was displayed to mePrior to these inquiries showing on my credit report I had never heard of [redacted] And I did not "submit an application"Please prove that I specifically was shown this disclosure or remove the inquiry Regards, [redacted]

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below While your documentation "meets financial standards" , the reason most choose to bank with ELFCU (Elements) is because you are not a standard bankI now fully understand what was written and you re-quoted for me, however, if you look at [redacted] benefit enrollment, the deductions are per pay cycleIf someone one, or most of your members, are used to seeing deduction quoted as such, confusion may occurI sincerely hope that in your when you are involved with transactions that are unfamiliar to you, you are met with an institution more willing to partner with a customer than this has been Regards, [redacted]

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that the response would not resolve my complaint For your reference, details of the offer I reviewed appear below.When I called the first time in December to pay three months ahead and asked to stop the automatic payments they should've forwarded me this form according to their policy to cancel all automatic payments which they failed to doInstead they just gave me their word of mouth that it wouldn't be doneWhen I called back in february 15th, to pay the three months ahead they still did not provide the form to cancel the automatic payments, the form is attached to this messageInstead on march 15, they withdrew money on my account in which they were not supposed to doTheir customer service agents failed to provide me with the formIt's not until March 14th,after getting into a heated argument about my money with Samantha C [redacted] thats when she finally remembered that their was a form called ELECTRONIC DISBURSEMENTS FORM that her customer service agents should've provided to me since December 15, I called my bank to stop the payments coming from this Company Elements Financials and no I did not get my money back cause my account was overdrawn due to Elements Financial WithdrawalI have attached an email to show that they never stopped the automatic electronic payments from the initial date December 15th Regards, [redacted]

We are grateful to Ms [redacted] for bringing this matter to our attentionWe have investigated the facts presented and verified their accuracyWe apologize sincerely for the inconveniences she faced with her credit card requestWe have ensured there are no fees accessed and have closed the card as requestedWe have communicated directly with Ms [redacted] to ensure her satisfaction and resolution of this matter

[redacted] has a monthly automatic payment set up for her Elements Financial auto loan to be paid from her [redacted] accountOn February 10, 2017, she made a web-based loan payment of $to her auto loan with the intention of it being for three monthly paymentsElements system automatically applies all over payments to reducing the principal and not to advancing the paymentLike in her first example it would be necessary to let us know the that over payment was to be applied to future paymentsAs such our system showed a payment due for the following month on March and the regularly scheduled automatic payment pulled her monthly auto loan amount of $from her [redacted] account Ms [redacted] called Elements on Thursday, March 16, requesting the $to be returned and explained her intention of the February payment to have been for the next three monthly loan paymentsAt that time we reapplied the over payment to her future paymentsSubsequently, [redacted] denied the $automatic payment to Elements for non sufficient fundsAs a result, Elements did not receive the funds from the automatic payment, but Elements had already issued a check back to [redacted] in good faithWhen we realized this situation, we called the member on Monday, March 27, to let her know the draft had been denied by [redacted] and thus we were going to place a stop payment on the check that had been sent to herThe stop payment was placed on March We suggested that Ms [redacted] speak to her bank as our records indicate the $was never ultimately received by Elements due to the payment being denied by [redacted] for non sufficient funds

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this response/resolution is satisfactory to me.
Regards,
*** ***

We are grateful to Mr*** for bringing this matter to our attentionWe have investigated the facts he has presented and verified their accuracyWe apologize sincerely for the inconveniences he faced in receiving his debit card, and we will review our process and procedures so this
doesn’t happen againOnce management learned of this matter, we overnighted a new debit card at no charge and confirmed his receipt of that cardWe have communicated directly with Mr*** to ensure his satisfaction and resolution of the matterWe’re confident that we are back on track with this loyal member

The vehicle title in this instance was processed as an electronic title and not a paper versionThe e-title process takes days versus 10-days for paperElements Financial released the title to *** on 4/5/On 4/at 11:PM, *** requested the electronic title to be converted to
paper and submitted to the Florida Department of Motor VehiclesBased on the average turn of days, the member was due to receive the title by 5/ As of 5/4, the member had not received the title, so we confirmed the mailing address with Mr*** and asked him to contact the Florida DMV to share the dates of the payoff As of 5/8, the Florida DMV reports that the title has been mailedElements appreciates Mr***’s patience with this process and appreciates his business

We have been able to confirm that Mr*** contacted our office on May 6th and on July 1stWe also reached out to him today by phone to discuss his request to update personal informationHe asked that an ACH form be provided and that was emailed to him todayWe apologized for the inconvenience
and the miscommunication regarding our hours of operation and the time differenceMr*** indicated that he was satisfied with our assistance

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this response/resolution is satisfactory to me.
Regards,
*** ***

Thank you for the feedback and for your loyal businessYour concerns have prompted us to review the loan agreement you have referencedAs you mentioned, the voluntary debt protection benefits you’re receiving are priced and displayed as “per $1,monthly outstanding balance,” which is defined on
the same page and section of the document in a font comparable to the rest of the agreementIt’s also disclosed on Page of in a section titled “Terms of Protection: What is the Plan Fee and how is it collected?” Our loan documentation meets financial compliance standards, but we will review it further with our documentation partners to see if any changes are warranted As a credit union, transparency is important to us in all communications to membersWe hope you will reconsider moving your accounts to another bank or credit unionIf you’d like to speak directly with someone in management about this matter, please contact us at (800) 621-and ask for the Vice President of Consumer Lending

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this response/resolution is satisfactory to me.
Regards,
*** ***

I do not understand why they insist my bank was sending this for this to be received my ELements on 6/16/2014, this was set up to be received by the payee on 6/13/ If I thought this was the case I would not have made the payment this way I spoke to my bank on 6/13/who stated that this was sent and the transaction was received on the over end on 6/13/ This was manually posted on 6/16/2014, I have done this with other institutions and the payment posted on the date it was transferred.Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***

Elements Financial partners with *** *** and *** to provide financing options for their customers. In Mr***’s case, he submitted an online application for auto financing to *** ***/*** and the application was subsequently forward to Elements Financial.
Elements Financial reviewed the application and pulled his credit in an effort to approve favorable financing which would allow Mr*** to refinance his automobile. Mr*** called our office on February 7, regarding this credit inquiry from Elements. Mr*** spoke to Elements representative Terri M*** who explained in detail why Elements accessed his credit file During *** ***’s online application process, any applicant is required to check the box stating “Do you authorize *** and/or its lenders to retrieve your credit report (and your co-applicant’s credit report) for the purpose of evaluating the creditworthiness of this loan request, as outlined in *** ***’ Terms and Conditions?” If Mr*** had not checked the box authorizing the credit inquiry, he would have been prohibited from submitting his application. Additionally, as part of his application, Mr*** provided his address, place of employment, and phone number. He also provided his Vehicle Identification Number ending *** When MrsM*** spoke to Mr***, he did not dispute the information submitted in his application nor did he dispute the fact that he had submitted an applicationHe did claim that Elements was not authorized to pull his credit. As you can see from the language above, Elements was authorized as a lender for *** ***/*** to access his credit file. We have no reason to believe Mr*** did not submit the application, and, as a result, the credit inquiry was not done in error; therefore, the credit reporting agencies will not remove this inquiry. We attempted to reach Mr*** by phone as recently as today, May, 2, 2017, to discuss this matter with him again, but the phone number we have on file seems to be inactive Thank you for allowing us to respond to Mr***’s complaint -Elements Financial

This transfer of funds did occur as requested, however, the recipient has a reloadable debit card and not an actual account for deposit of the funds. The transfer process available to our member from the website requires account to account transfers versus account to debit
card transfers. A disclosure provided during the transfer process also indicates that the transfer can take 3-business days. The receiving bank, *** should have rejected the transaction since there was no account available for deposit of the funds. This is part of the 3-day period required for the transfer
The member was assisted in our Contact Center through Live Chat, and then assisted in a branch location in person. We also reached out to her by phone and offered to transfer the funds by wire directly to her sister at no cost. We have provided provisional credit to our member so that she is not without the money until the funds are returned to us from ***. Their records indicate that the recipient received the funds on 12/11/15. We are continuing to work with the bank to locate and/or return the funds. Our online transfer system has not changed since we changed our name from Eli Lilly Federal Credit Union to Elements Financial in January 2015. The system works as prescribed

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and have determined that the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
[Provide details of why you are not satisfied with this resolution.]
Regards,
[redacted]