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Inspire Federal Credit Union

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Inspire Federal Credit Union Reviews (2)

Revdex.com Representative,We are in receipt of the recent complaint made by [redacted] submitted on September 20th, 2016.[redacted] initiated an ACH payment from a credit card institution to make a payment from her Inspire FCU checking account. That payment was processed without issue. Additionally, the...

same creditor requested payment from her savings account which was processed by Inspire FCU (Inspire did not initiate this request, it was made from the creditor on behalf of the consumer, [redacted]). The savings account that was being debited did not have the funds available to make the payment, so per policy there was a $30 non-sufficient funds fee assed to her account (this fee is disclosed in our consumer fee schedule). The transaction that is being reference was initiated from a creditor, not from Inspire. The creditor is a known payee to this account. At no point during [redacted]'s communication with Inspire did she ask for a refund of the fee.Inspire has an overdraft advance policy that allows members to overdraft their transaction (checking) account and pull funds from a savings account in order to cover a transaction. However, due to reserve limitations and regulations, savings accounts are not traditional transactions accounts and do not have an overdraft option from a checking account. It is not a standard financial services practice to have a savings account overdraft from a checking, however, it is common to pull funds from a savings if there are insufficient funds in a checking account.Additionally, all credit union members must maintain a membership share in order to have any services with the credit union. [redacted] has multiple loans with Inspire there for must maintain a membership share account, with a minimum balance of $5. [redacted] requested closure of secondary savings account which we closed per her request without any hassle to the consumer.We have spoken with [redacted] to make her aware of the circumstances and how to avoid unnecessary challenges in the future. [redacted] will need to ensure her creditor does not request payments form a savings account (which she does set up and ultimately initiate herself), rather only request funds from her checking account.If you have any additional questions, please direct them to Brian P[redacted] at [redacted].Sincerely,Brian P. AVP, Relationship Development

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

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Address: 2104 Bath Rd, Bristol, Pennsylvania, United States, 19007-2104

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www.inspirefcu.org

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Shady, yet now dead: once upon a time this website was reported to be associated with Inspire Federal Credit Union, but after several inspections we’ve come to the conclusion that this domain is no longer active.



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