- Report: #853743
Report - Rebuttal - Arbitrate
Complaint Review: Coast Hills Federal Credit Union
Coast Hills Federal Credit UnionP.O. Box 200, Lompoc/Santa Barbara County, California United States of America
Coast Hills Federal Credit Union INVESTOR/CONSUMER BEWARE: DOES NOT HONOUR COURTESY PAY OPT-INS IN EFFORT TO SAVE MONEY AND RACK UP FEES. Lompoc/Santa Barbara County, California
*Author of original report: Disclosures to Consumers
*Consumer Comment: What part of....
Coast Hills Federal Credit Union of Lompoc, CA., Santa Barbara County, belongs to a great little group of reliable, honourable credit unions that I've enjoyed banking with, such as Kinecta and Pacific Marine. Coast Hills, however, does something very sneaky: they allow you to opt-in for courtesy pay, which involves only check/ACH transactions - NOT credit card/debit purchases - up to $300 a month, at their discretion, and charges an additional $29 ISF fee for each approved transaction. Sounds responsible so far.
The catch is, once you opt in - regardless whether you have a history of repaying all your transactions and fees in a timely manner - only the first two transactions are approved, within an entire year. Beyond that, even in a following year, they decline each transaction while you're opted into courtesy pay, and continue charging ISF fees of $29 each time they just look at your check/ACH. The transactions are never approved again, which saves Coast Hills massive amounts of money in declined services because they never have to cover your check (even one's as little as $10). Meanwhile, the ISF fees accumulate as though you never opted into courtesy pay.
When I bank with Navy Federal Credit Union, they approve all transactions under the $300 monthly limit if you opt in, and an additional $25 per transaction for being insufficient. Of course, you still need to be responsible enough to cover all your tranactions within 30 days, but this is a more realistic option, particularly for military families struggling between paychecks but who can eventually cover those fees on the 1st of 15th of each month.
I will never bank with Coast Hills Federal Credit Union again. I was happy with them at first and delighted to pay any fees I incurred, because they lived up to the services they provided. I will, however, continue to bank exclusively with USAA and Navy Federal, and pursue all loans and additional financial services/ investments through them. Again, there are other reputable share branches within the Coast Hills union, such as (((competitors' names redacted))), and I would still recommend those to civilians. CHFCU's practices are unique to their management, only.
sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitors name
This report was posted on Ripoff Report on 03/14/2012 10:44 AM and is a permanent record located here: http://www.ripoffreport.com/r/Coast-Hills-Federal-Credit-Union/LompocSanta-Barbara-County-California-93437/Coast-Hills-Federal-Credit-Union-INVESTORCONSUMER-BEWARE-DOES-NOT-HONOUR-COURTESY-PAY-O-853743. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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