BECU- Are we in the scope of “financial crime” unit?

[Janneman]

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@Guyatthebeach wrote:

@Janneman ,

BECU is a quirky CU in my opinion. When I joined, my experience with their financial crime department was horrible. I had to email copies of everythinng. It took a few weeks to resolve.The experience actually changed my mindset on joining CU's. Honestly that is my only negative experience with BECU. I only use the CU for savings and CD's. I don't have any credit cards or loans with them.  

Guyatthebeach

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Do you remember what were all those documents requested from you? Is it possible for you to explain on how it was horrible? Was it because of types of documents requested, or time they took to resolve everything, or any other hassle? 

[Jnbmom]

I also went through the ringer with their financial crimes unit . I sent my DL social and proof of residency several times accounts were locked and it took several weeks .

I finally got in and have 2 ccs and a LOC, but honestly if I had to do over again now I might just pass there are soooo many CUs out there .

[Guyatthebeach]

@Janneman ,

I sent in a copy of license, SSN card, the power bill. They responded back saying there was an address discrepancy in whatever database they used. BECU wanted a copy of the title to my home and a copy of PIF mortgage, and I put my foot down. From my point of view, I should not have to send a CU a copy of my title or anything related to a paid in full mortgage just to join a CU.  I called them to find out exactly what was going on. In the database they used at the time, they had my second home as my primary address and there was no reference to my primary address. The rep had to escalate it to a supervisor and I had to wait for them to call me back. The supervisor called me back, and she pulled me up in Lexis/Nexis and another database, and saw I was right. She explained that the primary database they use has incorrect information, and she approved my membership.  Ever since, I had not had a single issue.

Also after that, I am only joining CU's that offer real benefits to me, not just being the flavor of the month. Right now I have credit cards with better rewards than BECU offers and I have no need of any additional LOC's. Also another thing with BECU in SC is you can't go into the branch because Boeing has completely restricted access to the Charleston campus. You can only go onto the campus when they open it up to public events. 

Guyatthebeach 

[Brian_Earl_Spilner]

I have absolutely no interest in them anymore. I already have about 9 other banks and credit unions that offer equivalent or better products. My only interest in them was due to being derogatory friendly. Now that my last 3 derogatories are rolling off through Feb of 2024 I don't see the point. 

[UncleB]

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@Brian_Earl_Spilner wrote:

I have absolutely no interest in them anymore. I already have about 9 other banks and credit unions that offer equivalent or better products. My only interest in them was due to being derogatory friendly. Now that my last 3 derogatories are rolling off through Feb of 2024 I don't see the point. 

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@Brian_Earl_Spilner, I have no thoughts on the BECU issue but I did want to chime-in to say congrats on your upcoming freedom day.  I remember my own all too well (May 2016)... it's a great feeling.  February 2024 will be here before you know it!

(Apologies to all for the thread hijack.)

[Brian_Earl_Spilner]

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@UncleB wrote:

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@Brian_Earl_Spilner wrote:

I have absolutely no interest in them anymore. I already have about 9 other banks and credit unions that offer equivalent or better products. My only interest in them was due to being derogatory friendly. Now that my last 3 derogatories are rolling off through Feb of 2024 I don't see the point. 

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@Brian_Earl_Spilner, I have no thoughts on the BECU issue but I did want to chime-in to say congrats on your upcoming freedom day.  I remember my own all too well (May 2016)... it's a great feeling.  February 2024 will be here before you know it!

(Apologies to all for the thread hijack.)

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Thanks, actually thinking about it, I think I have 4 or 5 between cap1 and target. But they all roll off except for one in the next month or so. Last one is January, so expect it to be removed in February. 

[Anonymous]

Do other CUs or banks have something called Financial Crimes Unit?   I know that there are security and fraud departments, but I think the Fed FINCEN should sue them for copyright/trademark whatever infringement.   To me, that sort of name implies actual prosecutorial power (like FINCEN) rather than a data gathering organization who would then pass off to others if they found real financial crimes (rather than "can't verify out of state identity")

[Janneman]

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@Anonymous wrote:

Do other CUs or banks have something called Financial Crimes Unit?   I know that there are security and fraud departments, but I think the Fed FINCEN should sue them for copyright/trademark whatever infringement.   To me, that sort of name implies actual prosecutorial power (like FINCEN) rather than a data gathering organization who would then pass off to others if they found real financial crimes (rather than "can't verify out of state identity")

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Nothing that I am aware of....I think such name is purposely and deliberately given just to intimidate us or to scare members in hoping members might back off from pursuing keeping the account. Regardless, this given name is derogatory and do provide a cause of action to take the matter to sue them...

[Spotsy]

Agree with LTL....Verifications vs. Financial Crimes Unit convey a entire;y different message to a member. I am not sure if I would want to deal with a CU that comes out with 'guns blazing, shoot first then ask questions' for identity verification...sends the wrong message. 

Maybe I should open a business account there named 'Get Every Penny You Can, LLC' as a Non-Profit Financials Services business...or maybe we should suggest BECU rename their Customer Service dept to 'I Couldn't Figure It Out' department'...