RE: Response to Complaint [redacted] Thank you for the opportunity to respond to this complaint filed by one of our members recently IU Credit Union provides all required disclosures at account opening for all new membersThese disclosures include, among other things, the Membership and Account Agreement, Truth in Savings disclosures, and our Fee ScheduleThe definition of inactivity is included in the Membership and Account Agreement All of the fees that may be charged by the Credit Union, including any fee that may be charged in connection with an inactive account, are provided to our members at account opening in the Fee ScheduleThe Account Agreement also outlines situations in which the Credit Union may close an accountMembers that utilize mobile deposit capture are provided and agree to our Mobile Deposit Capture AgreementGiven the remote nature of these deposits we utilize cutoff times to ensure we can process them in the appropriate time framesThis information is provided to mobile deposit members prior to their use of mobile deposit capture servicesOnce funds deposited are made available they are processed appropriately and are not re-ordered to be effective after debitsAfter reviewing the transactions on this account we have determined that all the deposits were processed and funds made available in compliance with our policy and the regulations related to these activities No deposits have been made to this account for quite some timePer our Membership Agreement, which was provided to the member at account opening, the account became inactive in December and was closed automatically by the systemWe must manage inactive and dormant accounts to help prevent fraud and comply with the laws that apply to the Credit Union regarding inactive/dormant accountsThese processes are for the protection and benefit of all of our membersThe Credit Union understands that all of these laws and rules are potentially confusing to our members and we do our best to work with our members when issues come up regarding how all of these rules intersectIn fact we were able to assist our member for a prior issue by refunding a fee that had been chargedIf our member had contacted us regarding this fee and account closure we would likely have refunded the fee and re-opened the accountThe Credit Union appreciates all of our members and strives to provide the best service to each member while also complying with all applicable rules and regulationsIn this case we provided each of the disclosures necessary to comply with those regulations and to properly inform members of the Credit Union’s policies regarding their credit union account, the mobile remote deposit service and any fees the may be chargedThe Credit Union will reach out to our member and offer to review the details of their transactions and to review the process for mobile deposits and funds availabilityWe will also refund the $fee and discuss any desire to re-open the account
Response to Complaint [redacted] Thank you for the opportunity to respond to this complaint filed by one of our members recently regarding the processing of payments sent to our institution via the US Postal Service We appreciate our members mailing in their payments in a timely fashion and understand that it can be frustrating when a payment takes longer to arrive than was anticipatedOnce a payment does arrive the IU Credit Union has a process in place for posting payments received via the mail on the same day they arrive in our office, unless there is question about how to process the check, which may cause a slight delay depending on the situation In this case it appears that there may have been some delay in the payment reaching our office since we do not have any indication that a payment was lost once it arrivedOur records indicate that our Contact Center Specialist, who took the call on June informed our member that we cannot guarantee when, or how quickly, mailed payments will reach us for processingIn addition, the Contact Center Specialist noted on the account on June that she informed the member that if a payment is received beyond the grace period, they would be assessed a late feeOn June 26, 2017, a payment was posted to the account The check was dated June 2, Based on the note on the account pertaining to the missing payment, the Contact Center Specialist posted the payment with an effective date of June 2, which automatically waived the late fee that would have been assessed for June In addition to the check dated June 2, it appears that a second check was received on June as well for two additional payments This entire check was applied to the loan The $late fee that was collected at the time when this payment was posted was from her May payment Upon receiving the complaint, the Contact Center Manager called the member and left a message on her voicemail requesting that she call and ask to speak with the Contact Center Manager or AVP, Member Service Support On June 28, the member returned our call Neither manager was available so the Contact Center Team Lead took the callThe member requested to have one of the three payments reversed as well as the late fee We reversed the extra payment and late fee The extra payment was mailed back to the member in the form of a Cashier’s Check The Team Lead that took the member’s call stated that she feels this situation was resolved to the member’s satisfaction As a creditor, it is our practice to post payments as soon as they arrive Unfortunately, there are situations where checks are lost or delayed in the mail Based on the account notes, we believe that our Contact Center Specialist responded fairly and accurately regarding our processing of paymentsAgain thank you for the opportunity to respond to this complaint
RE: Response to Complaint [redacted] Thank you for the opportunity to respond to this complaint filed by one of our members recently IU Credit Union provides all required disclosures at account opening for all new membersThese disclosures include, among other things, the Membership and Account Agreement, Truth in Savings disclosures, and our Fee ScheduleThe definition of inactivity is included in the Membership and Account Agreement All of the fees that may be charged by the Credit Union, including any fee that may be charged in connection with an inactive account, are provided to our members at account opening in the Fee ScheduleThe Account Agreement also outlines situations in which the Credit Union may close an accountMembers that utilize mobile deposit capture are provided and agree to our Mobile Deposit Capture AgreementGiven the remote nature of these deposits we utilize cutoff times to ensure we can process them in the appropriate time framesThis information is provided to mobile deposit members prior to their use of mobile deposit capture servicesOnce funds deposited are made available they are processed appropriately and are not re-ordered to be effective after debitsAfter reviewing the transactions on this account we have determined that all the deposits were processed and funds made available in compliance with our policy and the regulations related to these activities No deposits have been made to this account for quite some timePer our Membership Agreement, which was provided to the member at account opening, the account became inactive in December and was closed automatically by the systemWe must manage inactive and dormant accounts to help prevent fraud and comply with the laws that apply to the Credit Union regarding inactive/dormant accountsThese processes are for the protection and benefit of all of our membersThe Credit Union understands that all of these laws and rules are potentially confusing to our members and we do our best to work with our members when issues come up regarding how all of these rules intersectIn fact we were able to assist our member for a prior issue by refunding a fee that had been chargedIf our member had contacted us regarding this fee and account closure we would likely have refunded the fee and re-opened the accountThe Credit Union appreciates all of our members and strives to provide the best service to each member while also complying with all applicable rules and regulationsIn this case we provided each of the disclosures necessary to comply with those regulations and to properly inform members of the Credit Union’s policies regarding their credit union account, the mobile remote deposit service and any fees the may be chargedThe Credit Union will reach out to our member and offer to review the details of their transactions and to review the process for mobile deposits and funds availabilityWe will also refund the $fee and discuss any desire to re-open the account
Response to Complaint [redacted] Thank you for the opportunity to respond to this complaint filed by one of our members recently regarding the processing of payments sent to our institution via the US Postal Service We appreciate our members mailing in their payments in a timely fashion and understand that it can be frustrating when a payment takes longer to arrive than was anticipatedOnce a payment does arrive the IU Credit Union has a process in place for posting payments received via the mail on the same day they arrive in our office, unless there is question about how to process the check, which may cause a slight delay depending on the situation In this case it appears that there may have been some delay in the payment reaching our office since we do not have any indication that a payment was lost once it arrivedOur records indicate that our Contact Center Specialist, who took the call on June informed our member that we cannot guarantee when, or how quickly, mailed payments will reach us for processingIn addition, the Contact Center Specialist noted on the account on June that she informed the member that if a payment is received beyond the grace period, they would be assessed a late feeOn June 26, 2017, a payment was posted to the account The check was dated June 2, Based on the note on the account pertaining to the missing payment, the Contact Center Specialist posted the payment with an effective date of June 2, which automatically waived the late fee that would have been assessed for June In addition to the check dated June 2, it appears that a second check was received on June as well for two additional payments This entire check was applied to the loan The $late fee that was collected at the time when this payment was posted was from her May payment Upon receiving the complaint, the Contact Center Manager called the member and left a message on her voicemail requesting that she call and ask to speak with the Contact Center Manager or AVP, Member Service Support On June 28, the member returned our call Neither manager was available so the Contact Center Team Lead took the callThe member requested to have one of the three payments reversed as well as the late fee We reversed the extra payment and late fee The extra payment was mailed back to the member in the form of a Cashier’s Check The Team Lead that took the member’s call stated that she feels this situation was resolved to the member’s satisfaction As a creditor, it is our practice to post payments as soon as they arrive Unfortunately, there are situations where checks are lost or delayed in the mail Based on the account notes, we believe that our Contact Center Specialist responded fairly and accurately regarding our processing of paymentsAgain thank you for the opportunity to respond to this complaint