• Report: #1168578

Complaint Review: Nassau Educators Federal Credit Union

  • Submitted: Sat, August 09, 2014
  • Updated: Sat, August 09, 2014

  • Reported By: Kuroi — Bronx New York
Nassau Educators Federal Credit Union
woodbury, New York USA

Nassau Educators Federal Credit Union NEFCU I was tricked into referring customers to them, then they denied me a personal loan woodbury New York

*Author of original report: They said it was denied.......

*UPDATE Employee: Credit Worthiness - Not Referrals - Determines Loan Approvals

*Consumer Comment: Just wondering...

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To whom it concerns,

 

    I have been a loyal member of Nassau Educators Federal Credit Union (NEFCU) since the late 80's. My paychecks are directly deposited into my account, I've referred people to NEFCU who have personal and business accounts.

Just this year, I paid off my only credit card balance of $4,010 (Bank of America) and I paid off my car loan 6 months ahead of time. One would think these are all good things to a financial institution, right.....Wrong.

I applied for a small personal loan for $3,500 and put my car up (which is worth $10,000 in Kelly Blue Book) as collateral. I was denied!

This Credit Union does not care about their customers old or new. 

FYI: Representatives at NEFCU actually asks it's customers for customer referrals, the audacity!

From now on I will only use them to clear my checks, because I will be withdrawing my entire paychecks immediately upon availability. I absolutely refuse to allow them to gain any interest on my back!

Don't allow these financial institutions to take advantage of you. They don't care about you, because when you need them the most they will not come through for you. 

 

BEWARE of NASSAU EDUCATORS FEDERAL CREDIT UNION!


This report was posted on Ripoff Report on 08/09/2014 02:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Nassau-Educators-Federal-Credit-Union/woodbury-New-York/Nassau-Educators-Federal-Credit-Union-NEFCU-I-was-tricked-into-referring-customers-to-the-1168578. 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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REBUTTALS & REPLIES:
1Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

They said it was denied.......

AUTHOR: Kuroi - ()

by the way, it's a credit union, so there are no monthly fees to sustain a certain balance.

It was denied because of a college fee that I didn't even incur, which I'm currently disputing and hope it will be removed soon. This is a small blemish when my checks are still directly deposited! They've had my loyalty for over 20 yrs, and I ask for a little help and I can't get anything, not even a reduced amount! NO CUSTOMER LOYALTY!!!! 

I WILL NEVER ENDORSE NEFCU EVER AGAIN!

whoever the NEFCU rep is that is posting under my complaint should just keep to themselves, because this is absolutely true, NEFCU cannot be TRUSTED, because u do not care about your customers! It's all about your bottom line!

 

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#2 UPDATE Employee

Credit Worthiness - Not Referrals - Determines Loan Approvals

AUTHOR: NEFCU - ()


At NEFCU, we follow prudent qualification processes when it comes to lending money on behalf of our membership.  Borrowers must meet certain lending guidelines in order to be approved for a loan. We would be happy to discuss your individual  situation privately. Furthermore, we feel it is a gross misrepresentation to state that you were "tricked" into referring customers.  Receiving  a loan approval from NEFCU is not contingent upon referral business and is solely based on the applicant’s credit worthiness. The referral program referenced provides all members with an opportunity to earn $25 cash when they refer friends and family to NEFCU.

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#3 Consumer Comment

Just wondering...

AUTHOR: Ken - ()

Why did you leave out the reason(s) they denied your loan request.   You did ask, right?

"From now on I will only use them to clear my checks, because I will be withdrawing my entire paychecks immediately upon availability. I absolutely refuse to allow them to gain any interest on my back!"

By having a fit and falling in it, you may incur monthly account charges if the balance is too low.  It's always fun to shoot yourself in the foot.  Let us know how your strategy works..what could possibly go wrong?

Again, WHY did the deny your loan?

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