@Anonymous wrote:We do not base our credit decisions on an applicant’s FICO score, but rather analyze debts, income, payment history, number of recent inquiries and, in the case of secured loans, collateral. Credit scores are only used to determine the annual percentage rate that will apply to a loan or credit card. Mr. Sprague received your letter and personally investigated this reported incident. He is sending his response to you by mail today.
Respectfully,
Hanscom FCU Director of Communications
The bottom line is that Hanscom has a very negative attitude towards granting unsecured credit, and tries to push people into unwanted home equity lines.
Highly creditworthy applicants who are well thought of by other financial institutions are rejected by Hanscom for that very reason, since Hanscom's underwriters seem to be working on some formula that penalizes people for having good credit with other lenders.
Not a good way to grow.
A good way to shrink.
@Anonymous wrote:I finally got the letter. It says the same thing the Director of Communications posted with the addition that he agrees with the analysis and conclusion. Then he goes on to state that the branch manager is a respected and valued employee of the credit union and what I described in my letter does not "comport" with the observations and interactions he has had with her. <Interesting considering he is in MA and she is in VA> nor with her supervisor.
No apology. Obviously he doesn't believe me. But he should have in my opinion at least said, he was sorry that I felt the way I did blah blah. The only thing that came close was "disappointed that you were not satisfied". He noted that he closed my membership.
The sad thing is she did do exactly what I put in my letter and in my post, actually I left some of the negative interaction out in the post. I didn't embellish it at all but he is not interested in anything I have to say or my experience. I think it's interesting that because her supervisor has not seen that before means she must never do things like that.....I don't know too many people that will act that way to a customer in front of their supervisor. She knows she did it, I know she did it. After this calms down, she will do it again.
All in all, it is what it is. His choice to believe her hands down is ultimately his problem. All I can say is everyone beware! This is Hanscom FCU, the McLean Virginia MITRE branch, and this is how I was treated. Contacting the CEO is a waste of time.
PenFed is awesome.
This is the type of behavior one sees in institutions that are on the way down. Instead of learning from customer feedback, they circle the wagons. And then wonder why they are losing out to their competitors.
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:We do not base our credit decisions on an applicant’s FICO score, but rather analyze debts, income, payment history, number of recent inquiries and, in the case of secured loans, collateral. Credit scores are only used to determine the annual percentage rate that will apply to a loan or credit card. Mr. Sprague received your letter and personally investigated this reported incident. He is sending his response to you by mail today.
Respectfully,
Hanscom FCU Director of Communications
The bottom line is that Hanscom has a very negative attitude towards granting unsecured credit, and tries to push people into unwanted home equity lines.
Highly creditworthy applicants who are well thought of by other financial institutions are rejected by Hanscom for that very reason, since Hanscom's underwriters seem to be working on some formula that penalizes people for having good credit with other lenders.
Not a good way to grow.
A good way to shrink.
Wow, I had not heard that. Obviously I should have done more research on them before I jumped on the Hanscom train. Hopefully these posts will at least help others to be informed about Hanscom and member experiences with them.
What's fascinating is that you're using PenFed instead. Contrast and compare PenFed's attitude toward customer service. They send you a survey after each transaction, and if there's a hint of dissatisfaction in your response, they call you up and try to make it right.
@Meanmchine wrote:I hate FICO 2 score modeling. My FICO 2 score is 55 points lower then my FICO 8 score.
Sorry OP
Me too, mine is 60 points lower.