Elements Financial Federal Credit Union

We are grateful to Ms. [redacted] for bringing this matter to our attention. We have investigated the facts presented and verified their accuracy. We apologize sincerely for the inconveniences she faced with her credit card request. We have ensured there are no fees accessed and have closed the card as...

requested. We have communicated directly with Ms. [redacted] to ensure her satisfaction and resolution of this matter.

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.
While your documentation "meets financial standards" , the reason most choose to bank with ELFCU (Elements) is because you are not a standard bank. I 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 cycle. If someone one, or most of your members, are used to seeing deduction quoted as such, confusion may occur. I 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]

Elements Financial would be happy to assist longtime member Mr. [redacted] with this request. We have attempted to reach him twice and left voicemails since the original phone call he has referenced in his complaint. On 8/21, when told about our standard $5 statement copy fee, Mr. [redacted] hung up on...

our call center representative. For that reason, we did not proceed with providing the statement. If we can hear back from this member ASAP, we will gladly discuss his circumstances, including the possibility of waiving this one-time fee. At this point, no fee has been assessed on his account.

We contacted Mr. [redacted] this morning, September 29, 2015 at10:45 am.  We called as a follow up to a conversation that he had with oneof our Contact Center representatives around 8 am.  We attempted to explainto our member why the transaction was not yet applied to his...

account.  Hebecame frustrated with the response and hung up.In his complaint to the Revdex.com, Mr [redacted] accuratelydescribed the rewards program on the Elements Financial credit card which hecarries.  After $500 in monthly spending, he begins earning rewards at ahigher rate of 1.25 points per dollar spend. Visa Operating Regulations allow this particular type ofmerchant (Ziebart’s) 10 calendar days from the date of the purchase to submitthe transaction for posting to the member’s statement.  While mosttransactions do get applied to accounts in 2-3 business days, some can takelonger.  Elements Financial has no control over Ziebart’s transactionprocessing time or procedures.   The Elements Financial rewards program terms andconditions state that the transaction must post to the account during astatement period to receive points.  We understand our members disappointment, however Mr.Chitwood will earn points for his Ziebart’s transaction on his nextstatement.  At that time, he will be able to redeem for his $50 rewardthat he was seeking.

Thank you for the honest feedback. Since you posted your comments, we’ve been happy to work with you and your partner to clarify this issue. As you know, we have fraud controls in place to protect our members including security words, questions, and phone number verification. Each of these items was...

a factor impacting your inquiry. We appreciate your patience and understanding as we worked through these issues to process your application. Now your credit card is in process, and we look forward to serving your needs in this product area. Many thanks for your business and confidence in the credit union.

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 2016 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 do. Instead they just gave me their word of mouth that it wouldn't be done. When I called back in february 15th, 2017 to pay the three months ahead they still did not provide the form to cancel the automatic payments, the form is attached to this message. Instead on march 15, 2017 they withdrew money on my account in which they were not supposed to do. Their customer service agents failed to provide me with the form. It's not until March 14th,2017 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, 2016. 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 Withdrawal. I have attached an email to show that they never stopped the automatic electronic payments from the initial date December 15th 2016.
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 condescending. I am confident that no such disclosure was displayed to me. Prior 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]

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. [redacted]'s bank with a...

settlement date of June 16, 2014.  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. [redacted]'s loan ending [redacted] on the date the funds were made available to Elements Financial.Additional attachments include a screenshot of Ms. [redacted]'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 Financial317-524-5100

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. 
Regards,
[redacted]

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 process. In fact, the applicant agreed to said disclosures at 8:46 PM on 8/14/2016 when he submitted his application, which required entering the last 4 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 first. If this consumer has further questions or concerns, he may wish to contact [redacted] directly to verify the information within this statement. We have thoroughly checked the facts of this scenario and hope this inquiry can now be settled. Thank you.

[redacted] has a monthly automatic payment set up for her Elements Financial auto loan to be paid from her [redacted] account. On February 10, 2017, she made a web-based loan payment of $1925 to her auto loan with the intention of it being for three monthly payments. Elements...

system automatically applies all over payments to reducing the principal and not to advancing the payment. Like in her first example it would be necessary to let us know the that over payment was to be applied to future payments. As such our system showed a payment due for the following month on March 15 and the regularly scheduled automatic payment pulled her monthly auto loan amount of $641 from her [redacted] account.   Ms. [redacted] called Elements on Thursday, March 16, requesting the $641 to be returned and explained her intention of the February 10 payment to have been for the next three monthly loan payments. At that time we reapplied the over payment to her future payments. Subsequently, [redacted] denied the $641 automatic payment to Elements for non sufficient funds. As a result, Elements did not receive the funds from the automatic payment, but Elements had already issued a check back to [redacted] in good faith. When 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 her. The stop payment was placed on March 30.   We suggested that  Ms. [redacted] speak to her bank as our records indicate the $641 was never ultimately received by Elements due to the payment being denied by [redacted] for non sufficient funds.

Our research reveals that Mr. [redacted] obtained an automobile loan ([redacted]) with Elements Financial on December 10, 2015.  Mr. [redacted]’s first installment was due on February 8, 2016.  The first installment payment for loan ending [redacted] in the amount of $687.53 was received by Elements...

Financial on February 16, 2016.  The next payment in the amount of $40,334.36 was received on June 13, 2016.  The March 8, April 8 and May 8 payments were all 30 days past due by June 13, 2016, and were correctly reported as such to the credit reporting agencies. On April 13, 2016, Mr. [redacted] informed Elements Financial employee, Jami W[redacted] that his house burned down and the automobile securing loan ending [redacted] was destroyed.   The same business day, Jami W[redacted] sent the following email to Mr. [redacted] at [redacted], Sorry to hear about the house and your car.  I hope everyone is ok.  I see at the time of the loan you did choose to have GAP insurance.  To file a claim you would need to contact our loan servicing hotline at 1-800-621-2105.   Even with the damage that I can see to the car based on your photographs, it is still important to keep the car current and payments be made.  Often times GAP coverage does not cover the entire amount if a car has been past due and late fees have been assessed.  That being said, I am showing you are due for March and April for $1392.56.   Please contact me today so we can set up arrangements on those payments.  Jami W[redacted], Loan Adjustment Specialist As you can see, Ms. W[redacted] made it clear, in writing, that Mr. [redacted] was responsible for his regularly scheduled monthly loan payments while insurance was pending.  Further, Elements Financial was contacted by Shelley B. J[redacted] of the Small Business Administration when Mr. [redacted] attempted to obtain a loan from the SBA.  Ms. J[redacted] subsequently forwarded to Elements a falsified letter appearing to be on Elements Financial letterhead stating Mr. [redacted] was not responsible for the loan in question ending [redacted] because Elements determined the loan was obtained fraudulently. Elements never provided any such letter to Mr. [redacted]. The outstanding loan balance of $703.37 was charged off due to lack of payments and is still owed to the credit union.     To summarize, the unpaid balance remaining was caused by multiple late payments.   GAP Insurance does not cover past due payments which resulted in a residual balance which is the responsibility of the borrower.   If Mr. [redacted] were to pay the remaining balance of $703.37 Elements Financial will report the loan as a “Paid In Full Charge-Off”.