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Background Information:
On 5/2/16 I applied for membership to NFCU online. I was able to join because my sister is a current member. We have the same last name, but she lives in a different state. Immediately after I was instantly approved for membership I applied for the Cash Rewards credit card online. I was approved instantly for $11.8k. Immediately after that I applied for the checking line of credit(CLOC)/Navcheck online, and was given the we will contact you notice. Roughly two days later I received a secure message saying they needed documents to prove my Identiy for the CLOC application. I brought my documents into the bank on 5/7. I brought my last 2 paystubs, and my 2015 tax return. On 5/11 I believe I called in and asked for a status update. I was transferred to the "lending" department and they made me a counter offer which I accepted (I had asked for the full $15K). Once I received my credit credit card and began using it. I made purchases totaling ~$450 until 6/2, when my accounts were frozen. I never used my CLOC. I did not realize my checking account was frozen until 6/29. My savings account is not frozen, and I still have online and IOS app access. (This is why I believe this is not a membership review, but something else.)
Frozen Account Journey
6/2/16
6/3/16
6/8/16
6/9/16
6/10/16
6/15/16
6/17/16
6/23/16 ~ I waited a while before my next step as I really wanted to give her the benefit of the doubt.
6/28/16
6/29/16
7/2/16: UPDATE - I visited my Local Branch.
7/3/16: UPDATE
7/5/16: Update
7/6/16: Update
7/11/16: Update
7/13/16: Update
7/14/16: Update
7/21/16: Update
7/21/16: Update
7/22/16: Update
7/25/16: Update
8/3/16 - update
8/11/16 - Update
8/15/16 - Update
8/17/16 - Update
Conclusions:
CreditLuv wrote:
First, I'm so sorry this has happened to you. In a million years I would never think any credit union and definitely not the largest and most famous credit union in the world would treat a member like this. This is the type of crap card holders deal with when they bank with large banks and credit card companies.
I'm convinced you must be a practicing Buddhist monk, " I am getting a bit upset inside so I politely said thank you and hung up."
Because if this ever happened to me and things weren't unfrozen within 24 hours I would never bank with and/or close any credit card that behaved like this toward me.
Not to mention unless it's a car or mortgage loan any lender can pound sand about seeing my tax returns. SS, DL, utility bills, maybe my last 2-3 bank statements, but never tax returns.
Couple things...
1. How much NEW credit have you added in the 90 days before and after getting all the NFCU credit that you got?
2. Have you moved recently? No, 3+ years at current address.
3. Have you ever had your identity stolen in any way in the past? Never
4. Are you a W2 employee or self-employed? W2 employee
5. Did you apply in person for membership at a branch? Online
6. Did you apply in person for your three credit products or by phone? 2 credit products only. Applied Online.
Might be time to get on over to PenFed, NASA, Alliant, or USAA. I have NASA, Alliant, and USAA(Partial member). No credit products though.
P.S. Air credit hugs to you and in the mean time drink heavily.
CreditLuv wrote:
WOW! I never heard anything about NFCU having the power to freeze accounts of the person that made a person eligible into NFCU.
I read it on a post here. http://ficoforums.myfico.com/t5/Personal-Finance/NFCU-Restriction-Security-Department/m-p/3839950#M2...
Couple things from the hundreds of pages about NFCU I have read and the only things I can think of that any fraud/review department could possibly get in a tizzy fit about.
1 If you can ALWAYS to be on the safe side apply for NFCU membership (goes for all CU's) in person at a branch and when you apply for credit products. Not online, again if it's feasible. To many, it's not if the nearest branch office is 4 hours away or longer from them.
Yah, in my case there are 3 branches fairly close, though one is on a base and I cannot access it.
2. Use the NLUS method instead of a family member, then you join on your own merits in NFCU's eyes and not dependent on your referrer. This I would for sure do over if I could get a do over. I really hate worrying about my sisters account.
Other than that I can't see a single thing you did with your credit and NFCU to trigger this.
One last question I forgot to ask did you start a new job in the last 6 months? No, 7+ years at current job.
Palmdale,
I'm sorry to see such a horrible experience. I heard about this about Navy Federal in the past. From what I read in the past, it gets resolved within 30 to 45 days.
If this happened to me, I would send a certified letter to the president of NFCU demanding full reinstatement. Then I would ten days for a response. If my accounts weren't reopened, I would file a complaint with the Better Business Bureau, the state banking regulatory agency, consumer affairs agency, and the federal agency overseeing credit unions.
I hope this gets resolved promptly. Thanks for posting such a detailed experience.
Guyatthebeach
So sorry to hear this. Please let us know when you hear something and very best of luck to you.
This is not good. When they have your accounts frozen, it can be a major pain in the you know what. Are you close to any NFCU branch by any chance? If so, your best bet now is to go in and tell them what is happening and see if they can escalate it.
The people in the branch should be able to get quicker responses than you as they are employees. Hoping for the best outcome and keep us posted.
Wow. This sounds so stressful!! You have done so much more than I ever would have done. There are so many options out there. I wouldn't be able to stomach this for anyone.
@palmdale,
so sorry for what you're going through. Please keep us posted, my heart goes out to you, I can't even imagine.