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Consumers Credit Union - Ridiculous verification policy

Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

https://www.depositaccounts.com/banks/consumers-credit-union-il.html

 

I've had an account with them since 2011 and haven't had any issues.  They are a smaller CU in comparison to the big 5 mentioned around here but, they do a pretty good job once you're in the door.  It seems though periodically they have issues with the ID verification system they use where it ends up spitting back invalid information even though it's valid.  

 

When I opened my accounts though it was seemless and took about 5 mins to open and fund them and the CC app took a couple of hours to get a response but otherwise it was painless.

 

Since you didn't get the accounts opened up this go round with them just dispute the inquiry and give it a couple of months and try again.  Make sure your reports match your DL information and you should be golden.

Message 11 of 19
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Thanks for sharing that link, that's useful information.  Will try to get that inquiry removed and take it from there.

Message 12 of 19
Super Contributor

Re: Consumers Credit Union - Ridiculous verification policy

The process for me was OK, but still rather clunky.  On the app form I indicated I wanted a cc, and after the account was opened the rep emailed me and ask if I wanted one and what CL I was looking for.   As far as I remember, he told me what CL he was able to get approved and then I filled in the form, something strange like that.

But certainly not terrible and my Penfed experience was much more flawed.

 

Talking of which, just got a letter from Penfed saying that they plan to close on of my cards because I haven't used it in 24 months....  Where's the loyalty, I've talen good care of their card, gently cushioned by soft socks rather than out and about getting scratched in wallets and POS machines, and this is how they treat me!

Message 13 of 19
Super Contributor

Re: Consumers Credit Union - Ridiculous verification policy


longtimelurker wrote:
Talking of which, just got a letter from Penfed saying that they plan to close on of my cards because I haven't used it in 24 months....  Where's the loyalty, I've talen good care of their card, gently cushioned by soft socks rather than out and about getting scratched in wallets and POS machines, and this is how they treat me!

Life is tough but we got'ta live it Smiley Wink

Starting Score: 807
Current Score: 828
Goal Score: 850


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Message 14 of 19
Valued Contributor

Re: Consumers Credit Union - Ridiculous verification policy

I think the 30+ accounts you have opened in the past 24 months are in fact the issue here. Having that many accounts open in a short period of time likely set off their identity theft alerts, which is why they are insisting on seeing you in person.

I have been a CCU member for 3 years now, and I also live 1000+ miles away from the nearest branch. I've never experienced anything less than the best from them.
Message 15 of 19
Contributor

Re: Consumers Credit Union - Ridiculous verification policy

I'm currently waiting to hear back from a gentleman at DFICUS, which is the CU regulator in IL after my CFPB complaint was forwarded to NCUA and subsequently to DFICUS.

Had issues with Consumer not being able to verify ID despite answering the questions correctly. Then CS was of zero assistance. Received zero correspondence from them regarding my app.

Trying to get the HP removed and TU said the bank has to approve removal...
Message 16 of 19
Frequent Contributor

Re: Consumers Credit Union - Ridiculous verification policy

When i first joined consumers cu few months agoi had the same problem about verification. Then i emailed them asking to remove the inquiry and got the call back next day and she apologized and was able to verify me on the phone and set up my savings and free rewards checking ( at 3.09% apy) no problem. 

Their approval process for credit products is little bizare .first they sent me an offer of 1.99% balance transfer for one of their credit cards , when i applied even though the system showed approved , i got a call back after two days and was asked for a pay stub, dl, 3 references  etc. I was self employed and told them i can give bank statement and they wouldnt accept it and so Cc app status went to cancelled. 

Just last week i received ' you are prequalified for auto loan refinancing at 2.49% and will 50 reward ' email  and i was skeptical if it would get anywhere since i am self employed and yet i applied and( specifically mentioned in the comments that im self employed and i can provide bankstatements )got the usual system status approved . Got a call back the next day and was asked to provide recent pay stub, vehicle title copy , registration copy and ' 3 references' and i sent back my bank statements ,plus all those they needed and the underwriter approved me for the refinance!! I had 4% / 72 months with toyota financial for 2015 corolla that qas depreciating invalue big time as i drive 165 miles a day. So they financed 121% at 2.49% saving me nearly 1000 in interesr and 15$ in monthly payment and a huge gap insurance refund from the dealer. I bought gap waiver from consumers cu for this loan. They refinanced 14951 /payoff amount . Its already showing up on my accounts page. Even penfed and NFCU couldnt offer me better rate . I am very pleased so far with this CU. I may try again for CC so that i can balance transfer without fee to their checking and earn interest. 

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCU cashrewrds15.5K | NFCU more rewards amex 9.7K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 8.5K|Citi Double cash 7.1k| Chase Aarp 4.2K | Chase amazon prime vis sig 8K | Paypal 2% Cash back 300$ | US Bank Cash+VisaSig 1k | US bankAmex 500$ | Walmart MC 10K | Wellsfargo cashwise 1.5K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 150k CL all together

FICO SCORES- TU 737, EQ 710, EX 729 , AAOA 1 year. Inquiries TONS.
Message 17 of 19
Regular Contributor

Re: Consumers Credit Union - Ridiculous verification policy

Interesting post and good to know.  I joined CCU last year ($10 savings account), got denied on a cc (at the end of a spree).  Thought about re-apping, but actually was solicited by phone, to refinance a vehicle loan.  Was approved @ 1.9% for 125% of vehicle value, painless process, too.  I live in Vegas, so there's no way to visit a branch either.  Have had very good service since.  Maybe next year on a cc.

Am EX | Barclay | BOA | Citi | Discover | USB | Current: EQ 742 TU 730 EX 756 300K Club
Message 18 of 19
Super Contributor

Re: Consumers Credit Union - Ridiculous verification policy


happypill wrote:

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).


I just had a similar experience with Consumers Credit Union. I would have to visit a branch to verify my identity.

 

I'll take this as a sign that I don't want to do business with this institution, and just move along Smiley Happy

FICO8 EQ 721 TU 772 EX 769 Total revolving credit 500k
Message 19 of 19