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Consumers Credit Union - Ridiculous verification policy

Valued Contributor

Consumers Credit Union - Ridiculous verification policy

I think the myFICO community is familiar with Consumers Credit Union and the high-interest rates they offer on their checking accounts when combined with spend on credit cards (up to 4.59% currently) and substantial deposits.  I decided to try to set up an checking account and get a card with them.

 

I submitted the application online for new checking/savings and filled out the standard verification information including a copy of my DL and a TU inquiry hit immediately.  A little while later, I got a message saying they couldn't verify my information and that I'd need to go into a customer service center to present my documents - this is not an option as the nearest center is 1000+ miles away from me.

 

I called to follow up and after several hours finally got a call back from a representative.  They said they couldn't verify me based on the public information and suggested I check my credit reports.  This is ridiculous, I know the information is accurate because I've opened tons of cards and checking accounts in the past 24 months and all banks have had no issue verifying my data.  I asked if there was another way I could submit the information they needed and they said I had to bring it in.  I told them it was ridiculous that every major bank could approve me for cards/accounts instantly with online information but they wouldn't budge.  Not sure what their problem is, but it seems like they have some kind of Napoleon complex.  I had a similar problem with Nusenda a while back - their system actually automatically approved me for a new account but then a couple of days later someone manually declined it and said I needed to come into a branch.

 

Anyhow, just wanted to share my experience.  Small CUs are a pain to deal with (not sure actually if these guys are small).

Message 1 of 19
18 REPLIES
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Sounds like your information doesn't match your reports perfectly. Could be something as simple as not typing your address exactly as the CRA reports it, letter for letter.
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Message 2 of 19
Senior Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Yes I agree with ABCD2199 if I don't type in my address just exactly as they have it listed on my CR it can cause issues for me , take a look at your TU report and see if it all matches up
Message 3 of 19
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

TU gave me issues with just requesting a report because my address on there was listed as "STREET" and I kept typing "ST" or something like that. Very annoying but was my own fault, technically.

As a member of a few CUs, I prefer they be extra careful on verifying data of new members since members run the credit union, not big megacorps. Fraudulent signups hurt the members, not some random stockholders.
FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 4 of 19
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

I'm actually quite certain that it all matches up accurately.  Like I mentioned originally, I've been able to open 30+ accounts in the past 24 months with no verification issues.

 

Also, if it is in fact something like that, what's the point of making me go into an actual branch?  With my original application I submitted a copy of my DL which has the exact same information that has been on my reports for 10 years.

 

Other than small CU mentality, what is the point of in-person verification of a DL, SS# and utility bill (that's what the CSR said they wanted to see)?  Deals worth billions are completed regularly with documents transmitted online.  Every major bank can easily verify information submitted online.  If they want to offer their cards/accounts nationwide, how does in-person verification even make sense?  I'm not buying it.

Message 5 of 19
Senior Contributor

Re: Consumers Credit Union - Ridiculous verification policy

I understand where you are coming from , I would be upset also esp if you know for a fact that there should be no verification issues , all you can do now is just move on since there is no way to go to a branch to verify , sorry Op
Message 6 of 19
Senior Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Actually Navy Federal did this to my fiancé and they are a Huge CU , we sent in requested docs multiple times as they asked us to and everytime something was "wrong" with it , finally they ended up completely freezing his accounts until he showed up in person at the branch to verify his Info , we had to drive over an hour each way just to get to the branch , and when we got there the manager was appalled that they made us come in after looking over his info and seeing all the supporting docs we had to verify his Id , he said that it was very unnecessary for them to have made us come in . We had tax docs , DL , SS card , lease agreements, utilities, and bank statements plus insurance statements that all said the same info . I was very upset for quite some time after having to jump thru hoops for them
Message 7 of 19
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Yeah, but at least NFCU was willing to accept the documentation online.  It seems their problem was that something was wrong with it (whether that's true or not).

 

This CCU isn't even willing to accept online documentation from me, which just doesn't seem reasonable in this day and age, given the fact that they are offering their products nationwide but all their branches are in Chicago.

 

Anyhow, nothing to do but move on.  Just trying to help out anyone else who is thinking about applying.

Message 8 of 19
Senior Contributor

Re: Consumers Credit Union - Ridiculous verification policy

That is very weird that they can't atleast let
You send them online
Message 9 of 19
Established Contributor

Re: Consumers Credit Union - Ridiculous verification policy

I can relate with CCU customer service being a pain. I didn't have any problem setting up my account in the first place, but a couple of years later when I wanted to add my wife as a co-owner, I called and was told they could do everything online, and they'd send me the forms. After two weeks of nothing, I called back and was told that adding a co-owner could only be done in branch. I said there was no branch near me, and they said tough. I said another CSR said they'd send forms and I never got them. She put me on hold, came back and said OK, there's an online process, I'll send you forms. Two weeks later and no forms, called back and got the "has to be done at a branch" story again. Finally, by freak chance ended up driving by a branch during business hours, stopped in and was told there was nobody at the branch who could help me, but I could do it online. Sigh. To the young lady's credit, she actually did finally get me the necessary forms, and we got my wife added. But it was a long and winding road.

Chris.
Message 10 of 19