Vacationland Federal Credit Union seizes over $23,000 from savings Sandusky Ohio

Formal Complaint Regarding Unauthorized Account Freezes and Fund Seizures

I am writing to formally address several serious concerns regarding the actions of Barbara J. Oestreicher, Collections Manager at Vacationland Federal Credit Union. Ms. Oestreicher has placed freezes on three separate bank accounts under different names: two belong to distinct businesses (one a corporation and the other an LLC), and the third is a personal account. These freezes have entirely halted our ability to withdraw or transfer funds, resulting in multiple overdrafts and incurring hundreds of dollars in unnecessary overdraft fees.

The freezing of these accounts has also impeded our ability to make timely loan payments on loans held by the same credit union. The missed payments have led to additional late fees, which could have been avoided, as the funds frozen in these accounts— totaling over $23,000— are more than sufficient to cover all loan obligations.

During my in-person visit on April 30th, I inquired about the freezing of the two business accounts, which collectively held more than $23,000. Ms. Oestreicher informed me that the freeze was due to the absence of an insurance card for a personal boat associated with a loan in my personal account. She indicated that because my insurance agent had not provided the necessary documentation, she had decided to freeze the business accounts, despite them being separate entities with no legal connection to my personal banking.

Furthermore, I have previously attempted to make loan payments, which were denied. On April 30th, Ms. Oestreicher insisted on receiving payment to bring my loans current, despite still not having the required insurance card. I agreed to pay the outstanding amount of just over $7,000 and subsequently requested to withdraw the remaining funds from the business accounts and close them. However, Ms. Oestreicher's response was that I would not be able to access my funds and that she would seize the remaining balance to cover loans that were not even past due.

This pattern of behavior is not isolated; over the past two years, I have experienced unauthorized access to my accounts on multiple occasions. Funds have been accessed and transferred between the three separate entity accounts without my consent or authorization from my companies or personal account. Ms. Oestreicher has expressed that she does not work for me and does not take orders from me, yet her actions directly impact my ability to manage my finances.

In total, Vacationland Federal Credit Union has taken over $23,000 from my two business accounts based solely on the lack of an insurance card for my personal loan. Additionally, there have been instances where employees have shared my personal financial statements with unauthorized parties within the community, further violating my privacy and trust.

It is imperative that these practices cease immediately. I have heard similar complaints from other customers regarding unauthorized access and fund seizures, suggesting that this issue may be more widespread. I am also in the process of filing complaints with the Ohio Attorney General's office and other regulatory agencies regarding the actions of this credit union and its employees.

I urge you to take this matter seriously and to investigate the actions of Ms. Oestreicher and the policies of Vacationland Federal Credit Union. I look forward to your prompt response and resolution of these issues.