Complaints

This profile includes complaints for Prospera Credit Union's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

close

Find a Location

Prospera Credit Union has 6 locations, listed below.

*This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

BBB accredited

Near

Country

USUnited States

Please enter a valid location.

Filter

• 

  Prospera Credit Union

  1900 13450 102 Ave Surrey, BC V3T 5Y1

• 

  Prospera Credit Union

  22415 Lougheed Hwy Maple Ridge, BC V2X 2V2

• 

  Prospera Credit Union

  1101 Austin Ave Coquitlam, BC V3K 3P4

• 

  Prospera Credit Union

  200 20201 Lougheed Hwy Maple Ridge, BC V2X 2P6

• 

  Prospera Credit Union

  3025 Lougheed Hwy Coquitlam, BC V3B 6S2

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:26/09/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I went to Prospera to renew my mortgage, The mortgage broker not only was deceptive about what my rate would be, he also has made changes post signing. He told me by email my rate would be 4.3 and then when I went to sign papers it was higher (4.9 I think). Then after all the mortgage paperwork was signed and the deal was made, a few days later he called me to say he forgot that I was supposed to include a Form B from my strata saying if I owe any money. So I did this, and it cost me $150 which I felt was unfair as all the mortgage paperwork had already been signed, and we had a contract. With my mortgage renewal I also took out a loan to pay off my credit cards as the interest rate through the bank was lower. There was no signed agreement that I needed to do this for the mortgage renewal, it was something I asked for. But now today, a month after signing all the paperwork I get a call from the mortgage broker asking if I paid the $600 I owe to ********************* (for new common area carpets for the building). I haven't paid it, so they took the money out of my bank and paid it. I'm filing a complaint as this was not a loan requirement. There was not an agreement or even a discussion that I need to pay this immediately, I feel they have stolen money from my account and now when the 1st of the month comes around I will not have enough money in there to pay bills,

  Business Response

  Date: 02/10/2024

  Hi Ms. ********
  
  Thank you for submitting your concern and allowing us the opportunity to address it. The original rate we quoted was 5.04%, which we lowered to 4.94% to match a competitive rate offered by your other financial institution. Since this was a refinance and not just a mortgage renewal, we required certain documentation,including a Form B, which you provided 7 days prior to signing the agreement.The $150 fee was charged by your strata company. We explained that the $600 strata balance needed to be paid to complete the refinance, and in our email correspondence, you agreed to cover this by increasing the loan amount. As per the agreement, we paid the $600 from the refinancing funds. Therefore, we will not be reimbursing this payment.

  Customer Answer

  Date: 10/10/2024

   
  Complaint: 22340788
  
  I am rejecting this response because it does not answer my complaint.  My complaint is I believe the Relationship Manager, ****** ******, who processed my mortgage handled it in an improper way.  We signed a contract for the mortgage renewal and a new loan added to the mortgage to pay off some credit debt I accumulated.  At that point everything shouldve been said and done, as the paperwork was signed. The next day, he contacted me and wanted a Form B from my strata. He said the loan couldnt be processed without it. This is what my complaint is about; I had already signed the contract.  It was not an application, it was a contract. So for him to call me the next day after signing and say that he requires a form that ended up costing me $150, is not a fair practice.  He refused to honour our contract and told me it wouldnt be processed unless I submitted that form B. And as my mortgage renewal was due by the end of the month he needed a rush order on it.  So I had to pay an extra charge for the rush and the total was $150 (normally the form would be $40 but he required a rush order).
  

  The form B showed that I owed $600 to my strata for a recent carpet installation in the common halls.  ****** told me that this had to be paid and he went ahead and took the money out of my account despite my protest, and not leaving me enough in my account to pay bills that I needed to. My complaint here is we signed a contract for the loan 2 weeks before this. At that point, when we signed the contract, there was no mention of a form B or any other stipulations. 

  Im not asking for the money that went to the strata to be reversed back into my account. The strata payment has been made and what is done is done. The reason I am still submitting my complaint is because I feel unfair business practice was done. I would like to see ****** be given more training and guidance so that this doesnt happen to somebody else in the future.

  Sincerely,
  ***** *******

  Business Response

  Date: 17/10/2024

  Thank you for providing additional details. After reviewing our prior correspondence, it seems there are discrepancies between the timelines you shared and those in our records regarding when we informed you about the Form B requirement and the contract signing date. According to our records, you were notified well in advance, allowing ample time to request the necessary document from your strata and prior to signing the contract.

  That said, we truly value our members and are always open to reviewing processes or training to ensure were providing the best possible service. This is our final response through the Better Business Bureau, as we believe the matter would be better handled over the phone to better understand where we are misaligned and for a quicker and clearer resolution. One of our senior managers will be happy to connect with you directly. Could you please provide your permission to call and let us know the best time of day to reach you? If not, we hope this response addresses your concernsthough we understand it may not be enough to fully resolve the matter.

• Initial Complaint

  Date:15/11/2023

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The institution required a fee to process a cheque drawn on the cheque provided on an account of their institution. I believe a bank should be required to provide payment of the cheque amount upon validation of the amount payable. Going forward I will require the payment amount to include their banks charges and suggest the cheque provider to move their banking to my bank to reduce their banking fees.