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Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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NFCU Nightmare

NFCU decided to freeze all my accounts out of the blue until I provide them with a DD-214, proof of address, and proof of income. My wife figured this out when she needed gas to get home and only had NFCU credit and debit cards on her and was 30 miles from home.

Epic Contributor
Posts: 21,241
Registered: ‎03-19-2007
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Re: NFCU Nightmare

Are their issues of truthfulness or accuracy in information they relied upon when granting the accounts/credit?

What is their underlying reason?

They may or may not have legitimate basis, depending upon their reasons.  Consulting an attorney may be a good step if you feel they lack legal basis for denying account access......

Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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Re: NFCU Nightmare


RobertEG wrote:

Are their issues of truthfulness or accuracy in information they relied upon when granting the accounts/credit?

What is their underlying reason?

They may or may not have legitimate basis, depending upon their reasons.  Consulting an attorney may be a good step if you feel they lack legal basis for denying account access......


They said my account came up for review and they had two concerns: 1) they said my physical address does not verify as valid. This happens to me often because I live in a rural area where there is no postal service, I get my mail in a PO Box. 2) my membership application had a field left blank in the eligability section (I applied over the phone and answered all the questions I was asked).

 

They said once an account is frozen for possible fraud, they must question everything, therefore the income and employment info too.

 

I understand that they want to verify the information, and I am getting everything together ASAP. I am just shocked they shut down my accounts without notice and left me pretty stranded out of the blue without first calling me and discussing it. I wonder if they will even honor the checks I have written thus far.

Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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Re: NFCU Nightmare

I think the worst thing for me is that I have moved all my accounts to NFCU. My direct deposit now goes there, I switched all my accounts to them and get all setup and felt like I really found a bank I could trust and enjoy to work with... then bam, nope, cannot count on them. I feel defeated.

Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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Re: NFCU Nightmare

 

Banks and CUs in general ( not just NFCU ) are much more assertive in their fraud prevention activities, which includes things like validating invalid addresses, etc...   I'm sure that one they have received your information they will process it and reactivate your accounts.....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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Re: NFCU Nightmare


pizzadude wrote:

 

Banks and CUs in general ( not just NFCU ) are much more assertive in their fraud prevention activities, which includes things like validating invalid addresses, etc...   I'm sure that one they have received your information they will process it and reactivate your accounts.....


I hope so, I sent them a 20 page fax at 6 am this morning with all the records they wanted... waiting to hear back, still no access.

Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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Re: NFCU Nightmare


ficojoe wrote:

pizzadude wrote:

 

Banks and CUs in general ( not just NFCU ) are much more assertive in their fraud prevention activities, which includes things like validating invalid addresses, etc...   I'm sure that one they have received your information they will process it and reactivate your accounts.....


I hope so, I sent them a 20 page fax at 6 am this morning with all the records they wanted... waiting to hear back, still no access.


Still no access. You would think when you decide to "freeze" all of your customer's assets that if you cared about keeping the customer, verification of this sort would be expedited. I know I wasted no time in gathering and faxing the documents they requested.

Frequent Contributor
Posts: 253
Registered: ‎09-04-2012
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Re: NFCU Nightmare

ficojoe, sorry to hear about that. are you in nc? if you are i know someome that works at nfcu in nc.

Moderator
Posts: 13,897
Registered: ‎04-15-2011
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Re: NFCU Nightmare

I hope they get you unfroze quick.   Kind of holding you hostage right now.

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Frequent Contributor
Posts: 311
Registered: ‎07-21-2012
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Re: NFCU Nightmare


Guyatthebeach wrote:

ficojoe, sorry to hear about that. are you in nc? if you are i know someome that works at nfcu in nc.


I do not have a branch near me. That was one of the things the fraud department seemed interested in durring my interrogation. 

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