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Business Profile

Real Estate Loans

Global Credit Union Home Loans, LLC

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Global Credit Union Home Loans, LLC's headquarters and its corporate-owned locations. To view all corporate locations, see

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Global Credit Union Home Loans, LLC has 15 locations, listed below.

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    Customer Complaints Summary

    • 1 complaint in the last 3 years.
    • 0 complaints closed in the last 12 months.

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    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:11/03/2023

      Type:Billing Issues
      Status:
      Resolved
      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 am writing you because I feel that the Global Credit Union, NMLS ID #******, is using creative accounting techniques to unfairly increase mortgage loan interest payments from its customers. My original mortgage was with Alaska USA FCU which merged with Global CU. For years, I made monthly mortgage payments that included an additional principle payment to pay down the principle on my mortgage loan and reduce the monthly interest due. In October 2023, I noticed that instead of the additional amount being applied to the loan principle, Global CU applied the extra funds as future monthly payments. This resulted in my monthly interest payments staying elevated because the principle was not being reduced. I contacted Global CU on October 12, 2023 and was told that their computer algorithm automatically applied extra payment amounts towards future monthly payments instead of the loan principle. On October 26, 2023 I requested the bank to specifically code the additional payment amount made in my November mortgage payment as additional principle and received a receipt showing it as additional principle. But but as of November 3, 2023, the additional principle was applied a future monthly payments into ****. When I obtained my mortgage loan in 2009 through Alaska USA FCU, I was told that there was no penalty for an early payoff. By refusing to reduce the loan principle and keeping the monthly interest payment elevated, this becomes a financial penalty for trying to pay off my mortgage early and allows Global CU to reap an unfair financial gain by charging increased monthly interest amounts. While my additional monthly interest amount may not amount to much, if you consider the number of other mortgage interest payments affected by these creative accounting techniques, Global CU is collecting an enormous profit using dubious accounting methods.

      Business Response

      Date: 11/07/2023

      Global Credit Union,appreciates the opportunity to review the circumstances raised by *******************  Due to privacy restrictions of the ********************************** Act, we are unable to respond publicly.  Global invites ****************** to contact us directly at ************, to further discuss his concerns.  We will also respond to ***************** in writing if our attempts to contact are unsuccessful.  

      Customer Answer

      Date: 11/09/2023

       
      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

      *************************

    Global Credit Union Home Loans, LLC is NOT a BBB Accredited Business.

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