K Prime Merchandise Company

Good afternoon, attached is a copy of the application Ms. [redacted] signed. Please refer to the lower right hand section of the form labeled Assignment (verbiage circled) referencing Connexus.
Thank you

August 19, 2015
 
Revdex.com of Wisconsin
Attention:  [redacted]
10019 W. Greenfield Avenue
Milwaukee, WI 53214
 
RE:  Complaint # [redacted]
 
Dear Ms. [redacted]
 
Thank you for alerting us to the concerns of our member per complaint ID [redacted]...

dated August 17, 2015.  At Connexus, we take all complaints very seriously and hope that from each we can learn something that helps us to prevent similar concerns in the future.
 
I have reviewed the circumstances around this member’s situation.  This member originated an auto loan with Connexus through our indirect lending program on March 18, 2014 in the amount of $23,992.34.  Her loan balance today is $23,395.61.  A payoff quote for today’s date would be $23,902.01.
 
In her complaint the member asks for help understanding how the loan could be over a year old, yet she stills owes essentially the original loan amount.  She has been told that she is 4 months behind in payments and is eligible for repossession and she would like an explanation for that as well.   She states that she has been paying on her loan every two weeks.
 
Enclosed please find a loan history summary that presents in detail all that has occurred with this loan.  In general, she has made little progress paying down the principal due to other issues including:
·         Incurring late fees
·         Incurring for Forced Place Insurance from December 2014 to April 2014 when proof of insurance was provided
·         Making partial payments essentially since December 2014 and in some cases missing monthly payments.
Given all of the above, it is easy to see why the situation is confusing.  The payments she has made have largely gone to pay interest, fees, and insurance with little reaching the principal.
 
I have also reviewed our contact logs and see that Connexus has been making regular attempts to reach the member for a total of 30 between May 2014 and August 2015.  On at least five occasions we were able to speak to the member.  On  August 11, she advised that she plans to make a full payment on August 28 and plans to try to make payments (partial or full) every two weeks going forward.     
 
In conducting all of the above we followed our normal practice and policy and requirements outlined in the borrower’s loan agreement regarding maintenance and proof of insurance.  We also followed our normal practice and policy in our verbal and written communications.
 
We regret the dissatisfaction and confusion experienced by our member in this situation.  We believe we did the best we could to communicate about the situation and welcome feedback on how we can improve the effectiveness of our processes. 
 
I would very much like to offer to her the support and assistance of a service with whom we work called Green Path.  They have been very helpful to our members in organizing loan payments, avoiding late fees, etc.  There is no charge for most of their services.   I plan to mail that information to our member separately.   
 
Please do not hesitate to contact me with any additional questions.   A copy of this response has also been emailed to the concerned member.
 
 
Sincerely,
 
[redacted]
Chief Experience Officer (CXO)
One Corporate Cove, Suite 500
Wausau, WI 54401
  (715) 870-2606
  [email protected]
 
 
Attachment:      Redacted copy of Loan H

Our mission is to help the customer reach their financial goals.
Mr. [redacted] completed and signed an application on 10/1/16. This signed application by Mr. [redacted] provided express permission to become a member of Connexus Credit Union. This is narrated on the application and by his signature, Mr....

[redacted] did "agree to join Connexus Credit Union and the Association, and the terms of membership in each organization.", thus the account was opened with permission.
A timeline of events:
10/1/16 - Mr. [redacted] completed an application in which he agreed to the financing of his purchase and the establishment of an account with Connexus Credit Union. The application was signed by Mr. [redacted] indicating his approval of these actions.
0/14/16 - Connexus Credit Union provided funding for Mr. [redacted]'s water treatment system loan and established the account. Additionally, a letter was provided to Mr. [redacted] discussing the actions, along with terms and disclosures discussing the terms of his Connexus Credit Union account.
Ongoing:
Mr. [redacted] is and will receive monthly statements for his loan account. These statements indicate the Connexus Credit Union name and require payments to be made payable to Connexus Credit Union.
Mr. [redacted] is and will receive quarterly statements from Connexus Credit Union. Once his loan is paid in full, we will be happy to close his account. This account has no impact on his credit rating.
Thank you