U Of U Credit Union

Review: I applied for a payday loan in the amont of $4500. I never received the loan and was consequently swindled by the people that the loan was made from. I tried to deposit a check in the amount of $[redacted] from the [redacted] located in Salt Lake City, as my account was in the negative of approximately $[redacted]. I went to the credit Union and tried to have the check pushed through, as I had no funds in my account. The credit union would not push the check and put a hold on it until April 30th, 2015. Then, the credit union worked with me and called the bank of [redacted] which is located in Colorado to insure that the funds were there. The funds were available and the check was released at the branch location. I then tried to use my debit card the minutes later and the transaction was denied. I called the credit union and they had put a hold back on the previously deposited check. After numerous conversations with the branch manager, he I formed me that at the operations level, they would not release the check. My husband, also a member of the credit union for 30+ years, called the branch manager who assured him that the check would likely clear between 3:00pm and 3:30om mst on April 24th and at the latest, by the day of April 25th. This did not happen. Subsequently I had written a check in the amount of approximately $[redacted] on April 17th. The check was returned to the merchant on April 24th. I wrote the check based on the fact that the payday loan was deposited into my checking account on April 17th.Desired Settlement: I would require a restitution with the stolen funds returned to my account.

Business

Response:

In the response to the complaint from [redacted] our records indicate she has received full benefit of the [redacted] check in the amount of $[redacted]. This check was deposited on April 23, 2015 a hold was placed on the funds in compliance with Regulation CC. The funds were made available on April 27, 2015. As to the response to the $4,500 payday loan deposit on April 17, 2015 that item was returned NSF on April 22, 2015. Therefore the Credit Union will not accept responsibility for the check in the amount of $[redacted] issued on April 17th as there were insufficient funds.