Complaint Review: Navy Federal Credit Union

I would like to add this to what the last person said in her comments to the author of the complaint.

It is true that when you apply for a loan NFCU can sign you up for automatic payments. It is a computer system and it is a courtesy, so it is still your responsibility to make sure those payments are transferring out of your account if an error occurred. The loan documents are clear in saying this is your responsibility as the member to pay the loan back to NFCU in a timely fashion, each month until paid off.

If the loan is not paid in 30 days NFCU can report you. If you saw you still had money in your account you should have called to make sure it was transferring out. We can help you!

Bottom line, automatic transfers are electronic and electronics can make errors. But when you are the largest credit union in the world we need your help too, to help NFCU identify those errors. Take responsibility for your accounts and we can help if there is a problem brought to our attention. If we fail to make those electronic payments we appologize but we can not be held responsible because again it is a courtesy. You as the mbr also can log online and set them up yourself just in case you decided to have another loan in the future.

Michelle,

I have a friend that has an acct with Navy Federal Credit Union and he has adv me that the auto deduction for payment can be initiated at time of application or at a later time depending on the customers request/decision. You stated that you received a late notice and that the funds had not been take out of your acct so you were wondering what was going on.

Questions: If you had been monitoring your acct closely you would have seen that the funds were still in the acct? Why didn't you call the day after your funds were suppose to be taken and inquire? You wouldn't have received a late notice until at least 15-30 days past the due date according to my friend who has an accct with Navy Federal.

My friend also adv me that Loan Officers at Navy Federal don't talk to customers and all the communication and processing of loan applications is done thru the call center reps.

Questions: Did you ask for auto payments at the time of your loan request being submitted or did you call in after you found out that the loan was approved and requested at that time to have auto payments set up? This could make a big difference in the issue that happened.

You stated that you decided to make a cash payment on the loan according to your post and that a few days later they took out 2 months worth of payments. If this is correct then you must have been at least 2 month past due and the payment that you made was the current payment owed in order to make your loan current. Was this on a weekend that you made your payment? Did you consider talking with collections to see what they could do to assist you prior to making your cash payment?

The reason that they wouldn't help you with regartds to the late notice on your credit is because they are not a credit reporting agency and you would have to file a formal dispute with the credit reporting agency to get any action.

You need to take some responsibility here. You can't blame them for your lack of keeping tract of your accts. No financial institution will monitor your accts for you. That is what you are responsable for doing. It is your money and I would think that you would keep better track of it since you have to work hard for it.

Later.

I have to say that i am still with NFCU. and that i have seen many improvements in customer service and products.