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05-08-2017 11:25 AM
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).
05-08-2017 11:42 AM
05-08-2017 11:49 AM
05-08-2017 11:52 AM
05-08-2017 12:00 PM
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.
05-08-2017 12:05 PM
05-08-2017 12:09 PM
05-08-2017 12:22 PM
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.
05-08-2017 12:44 PM
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