Magnolia Federal Credit Union

Ms***,
We are very sorry to hear that you have had a negative experience with Magnolia Federal Credit Union Our Vice President of Operations, *** ***, has indicated that she spoke with you via telephone conversation after you submitted this complaint to the RevDex.com, and that the issue had been resolved If this is not the case, please feel free to contact her for further information.Thank you,
Magnolia Federal Credit Union

"">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]

First, we would like to apologize to Ms. [redacted] for any inconvenience and confusion that may have occurred regarding these transactions.  For signature-based debit card transactions, where no PIN is used, the merchant will place an authorization hold on the account for the amount of the...

transaction.  This hold may be anywhere from a few hours to a few days, and the amount on hold is reflected in the Available Balance.  The merchant will then later post the transaction, which debits the transaction amount from the Actual Balance of the account.  Unfortunately, the merchants control the timeline between authorization holds and transaction posting.  In this particular situation, the merchant did not place a hold that was long enough, and it expired prior to the transaction being posted, giving the appearance that there were more funds available than there actually were.  The merchant then posted the transaction the day after the hold expired, and after Mr. [redacted]'s [redacted] transaction.  This caused the ensuing overdrafts.  The credit union refunded three overdraft fees as a courtesy.  In order to avoid situations like this, the credit union advises members to maintain a transaction register in which transaction amounts are deducted and thus avoiding unintended overdrafts.Should Ms. [redacted] require further information regarding her account and is not satisfied with communications from the Contact Center employees or Manager, she may contact any Branch Manager at 601-[redacted].

First, we want to apologize to Ms. [redacted] if any disrespectful tone or words were used in coversations with her.  Magnolia Federal Credit Union strives to treat all members and situations respectfully.  It appears that funds were taken from Ms. [redacted]'s account and applied to delinquent...

loan payments, as permitted by cross-collateralization clauses in the loan agreements.  If Ms. [redacted] has further questions, we invite her to speak to the Collections Manager, [redacted].  The number to reach Ms. [redacted] is 601-[redacted].

We apologize for the problem Ms. [redacted] has experienced in trying to contact someone at Magnolia Federal Credit Union.  We have refunded all overdraft fees incurred due to these transactions.  We hope this resolves Ms. [redacted]'s complaint to her satisfaction.

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]

Magnolia takes credit disputes seriously.  We have spoken to Ms [redacted], and rectified her account and all of her concerns.  We are here to serve our the community want to see it prosper financially.  Additionally, we are ensuring that all members are contacted in a timely manner.

We apologize that your telephone calls were not returned in a timely manner.  You should have received a call today from our Titles Specialist regarding the title to your vehicle.  If you have not received the title in the mail within 5 business days, please let us know.

Ms. [redacted],We are very sorry to hear that you have had a negative experience with Magnolia Federal Credit Union.  After speaking with Ms. [redacted] and [redacted], who handles all items disputed with the credit bureaus, they indicated to me that all information being submitted to the credit...

bureaus is now correct.  We apologize for any inconvenience you may have experienced.  If you need further information, please feel free to contact us.Sincerely,Magnolia Federal Credit Union

Complaint: [redacted]
I am rejecting this response because:As the customer I was not aware of the time frames between merchant and bank. When speaking with magnolia, it was their rep who advised to follow the Available balance, as I've always done because it is minus the pending. Also when asked why didn't she as the service rep do her due diligence in informing me that my understanding was incorrect, basically she stated I only answer the questions given. But she knew what I was doing in bringing the account in the Black. Furthermore I spoke with another bank who were trying to get funds from account and were also pending in this account. The funds were returned to my account in two days. When I asked why they did retrieve being they were the merchant, they stated banks have a hold period of their own and magnolia waited two days and then returned the funds. So that 3-4 day window is a lie and them blaming the merchant is an excuse.  The only satisfaction for me, us for them to return the 30.00 they took.  Because of the unclear banking practices, the rep not giving me the info to avoid the addition fee and poor customer service. Please see the attached screen shot where the rep tells me to follow the Available balance and made not mention or EXCEPTIONS to this rule.
Regards,
[redacted]

Mr. [redacted],I sincerely apologize for any inconvenience you have experienced from the issuance of our new debit cards.  We changed the process to improve our ability to service your needs directly.  I do not think it is an unreasonable request to overnight this card to...

you.  I will have it done immediately.  If you have any additional issues please contact me directly at 601-[redacted] or by email at [redacted]@magfedcu.org.Sincerely,[redacted]AVP OperationsMagnolia Federal Credit Union

We are currently attempting to update the system to increase payment options.  We understand that convenience is very important in today's world.  The debit was processed for the wrong amount.  I apologize for this oversight on our part, and will do whatever is necessary to...

correct this issue.  Ms. [redacted], you have my direct line and email so that in the future any issues will be addressed in a timely manner.  I will contact you as soon as the new system is operational.  Please let me know if I can do anything else to repair our relationship with you.?