Erie Federal Credit Union

I would like to submit a response to our member’s complaint.Our member borrowed $from the Erie Federal Credit Union June 26, She made one payment of $20008/21/leaving a balance of $Our member cashed a check for $Sept16, which wasreturned for insufficient funds, leaving her account balance - $560.20.After several letters and phone calls, our member finally responded May 29,agreeing to make paymentsof $25/week starting June 11,No payments were receivedOur Member contacted our office again Dec.29, requesting to re-open a savings accountWe agreed, as long as she makes $20/week payments towardher loan balance from She made a $payment Jan and another $payment Jan21.Her tax refund in the amount of $4,was received February 10, We used our right of offset to pay offboth delinquent accountsThe member withdrew the remaining $3,in cash.The Credit Union has the right to offset member accounts if the owner also has a delinquent loanMembersagree to this right when they sign the account agreement and again when they sign a loan noteIn mostcircumstances we try to make arrangements with our members so they can easily pay back debts and becomefinancially stable againHowever, this particular member was given multiple chances over a two year periodand never kept her promises to pay.The Credit Union is member owned, so when one member causes us a loss, they are taking from the rest of themembershipWe always strive try to serve each individual member, but not at the expense of the other 50,000members.SincerelyMember Solutions Manager

I would like to submit a response to our member’s complaint.Our member borrowed $500 from the Erie Federal Credit Union June 26, 2014. She made one payment of $20008/21/2014 leaving a balance of $385.74. Our member cashed a check for $616.64 Sept. 16, 2014 which wasreturned for insufficient funds,...

leaving her account balance - $560.20.After several letters and phone calls, our member finally responded May 29,2015 agreeing to make paymentsof $25/week starting June 11,2015. No payments were received. Our Member contacted our office again Dec.29, 2015 requesting to re-open a savings account. We agreed, as long as she makes $20/week payments towardher loan balance from 2014. She made a $20 payment Jan 7 and another $20 payment Jan. 21.Her tax refund in the amount of $4,409 was received February 10, 2016. We used our right of offset to pay offboth delinquent accounts. The member withdrew the remaining $3,504 in cash.The Credit Union has the right to offset member accounts if the owner also has a delinquent loan. Membersagree to this right when they sign the account agreement and again when they sign a loan note. In mostcircumstances we try to make arrangements with our members so they can easily pay back debts and becomefinancially stable again. However, this particular member was given multiple chances over a two year periodand never kept her promises to pay.The Credit Union is member owned, so when one member causes us a loss, they are taking from the rest of themembership. We always strive try to serve each individual member, but not at the expense of the other 50,000members.SincerelyMember Solutions Manager

Review: I had an old loan with the credit union that I was not paying on. I called the bank to see what I needed to do to come back with them and bee in good standing. At which time we agreed I could open a savings account with them and I would pay the $20 every pay day towards the previous loan I owed on. Friday evening I checked my online banking because I noticed that there was money missing from my account. Here the credit union decided to take it upon themselves to take the $905 owed to them right out of my account without my authorization. They totally voided the agreement we had. I struggle every day and that money was needed.Desired Settlement: I want the $905 back and to continue are previous agreement.

Business

Response:

I would like to submit a response to our member’s complaint.Our member borrowed $500 from the Erie Federal Credit Union June 26, 2014. She made one payment of $20008/21/2014 leaving a balance of $385.74. Our member cashed a check for $616.64 Sept. 16, 2014 which wasreturned for insufficient funds, leaving her account balance - $560.20.After several letters and phone calls, our member finally responded May 29,2015 agreeing to make paymentsof $25/week starting June 11,2015. No payments were received. Our Member contacted our office again Dec.29, 2015 requesting to re-open a savings account. We agreed, as long as she makes $20/week payments towardher loan balance from 2014. She made a $20 payment Jan 7 and another $20 payment Jan. 21.Her tax refund in the amount of $4,409 was received February 10, 2016. We used our right of offset to pay offboth delinquent accounts. The member withdrew the remaining $3,504 in cash.The Credit Union has the right to offset member accounts if the owner also has a delinquent loan. Membersagree to this right when they sign the account agreement and again when they sign a loan note. In mostcircumstances we try to make arrangements with our members so they can easily pay back debts and becomefinancially stable again. However, this particular member was given multiple chances over a two year periodand never kept her promises to pay.The Credit Union is member owned, so when one member causes us a loss, they are taking from the rest of themembership. We always strive try to serve each individual member, but not at the expense of the other 50,000members.SincerelyMember Solutions Manager