Originally Posted by
ctbarron
You go the the National Credit Union Association's website and file an online complaint. I recommend telling them the truth. How much detail you go into is a judgement call. I would also email the CU and ask for a copy of the terms and conditions governing your account. This will specify what they can and cannot do, opening requirements, etc.
And stop calling the CU. Nothing productive can come from that given the current situation. Also stop mentioning lawyers, suing them, etc. as that is an absolute last resort. Negotiating something with them would have been the best idea, but it sounds like that ship has sailed at this point. Expect to be without the money at least another 30 days after the regulatory complaint is filed.
Thanks so much for this info! I will follow up with the NCUA right away.
When filing the FDIC report I offered all the facts but chose to withhold the intent/motivation for opening the accts as it didn't seem relevant; I was approved with all the requisite documents after all- they reflect my current residence. I will do the same with NCUA. As there's no longer any doubt about sustaining a relationship with the credit union, I don't feel it necessary to bring personal life plans (whether real or false) into the discussion. That was simply said to appease the rep at signup and while it may have been manipulative and insincere, it was also not a guarantee. I made it clear that I had neither a concrete timeline or even a specific city/location to offer. They approved the account anyhow, then some higher-up decided that my story wasn't convincing and chose to seize my accts and funds. The fact is, that if I don't qualify as a member of the credit union based on my state of residence, then my account should be closed and the funds returned. That's just common sense. Therefore, I don't feel the need to justify any reasoning behind the opening of the account itself . That is their liability and it should've been up to them to determine whether or not I was eligible or qualified for membership before agreeing to open an account and take my money. I'll provide only the basics and withhold the unnecessary details about our moving story. If the FCU decides to raise the issue, I'll simply let them know that it's irrelevant as I've requested to close the accts.