Complaints

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

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• 

  Schools First Federal Credit Union

  15442 Newport Ave Tustin, CA 92780-6473

• 

  Schools First Federal Credit Union

  223 N Jackson #113 Glendale, CA 91206

• 

  Schools First Federal Credit Union

  4204 Riverwalk Pkwy Riverside, CA 92505

• 

  Schools First Federal Credit Union

  21241 Hawthorne Blvd Torrance, CA 90503

• 

  Schools First Federal Credit Union

  5359 W Centinela Ave Los Angeles, CA 90045-2003

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:08/23/2023

  Type:Order Issues
  Status:

  ResolvedMore 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 applied for a loan and wanted to consolidate both loans with an extended loan amount of *******. The amount of the new loan total should have been *******. Instead it was $300.00 let that didnt cover the cost of the companion dog. I called many time asking for my bank to honor what they told me. Instead they only approved my loan to cover both loans. This was very embarrassing as the lady was close by to bringing me the companion dog, Im wanting my bank to honor what they said they will do for me.

  Business Response

  Date: 08/28/2023

  We received the correspondence from ***************************** requests that SchoolsFirst FCU review a personal loan request submitted to consolidate existing SchoolsFirst FCU personal loans and include additional funds to purchase a dog.
  Our records indicate that ***************************** submitted a credit application for a personal loan on 8/2/23, to consolidate existing SchoolsFirst FCU personal loans with additional funds requested to purchase a dog. Our objective during the loan interview underwriting process is seeking to understand our Member's goals related to the loan request using the financial tools and details available, as provided by the Member and/or the credit reporting agency demonstrating the financial ability to repay the loan being requested. After reviewing all details ***************************** did not qualify for the full loan amount requested during the loan interview process. SchoolsFirst FCU did provide a counteroffer to consolidate Camilles existing SchoolsFirst FCU loans per ******** request during the interview and gave a small amount of excess funds ($320.21) to ******* to utilize without restrictions. An email notification was sent to ***************************** on 8/2/23 regarding the decision, including the amount of the approval,the term, and the conditions required to move forward with the loan.Concurrently, a letter was mailed 8/3/23 detailing the reasons we could not approve the application on the terms requested. ******* accepted this counteroffer on 8/3/23. SchoolsFirst FCU abides by all fair lending laws and regulations. In the review of this situation relative to the credit qualification for this personal loan application, all appropriate policies and practices were followed. If you have any further questions or would like any additional information, please feel free to email me at ************************************* or please contact me at ************************.  *******************************, Consumer Loan Underwriting Manager.

  Customer Answer

  Date: 08/28/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *****************************
  
   
  

• Initial Complaint

  Date:07/14/2023

  Type:Billing 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 had an auto loan through schools financial in 2011. I was in an accident on June 2016. I had gap insurance because I had bought the car at a dealership. My car was deemed totaled and my loan was paid off to my knowledge. I am not sure why I am just now seeing there was a report made to my credit saying that my account is delinquent and the last payment received was in May 2020. Its been more than 7 years since my car was paid off. Not sure why its being updated now. Ive tried calling Schools to see whats going on and no one was able to assist me but advise I file a dispute with equifax.Schools was paid in full for the auto loan from insurance. I would like the correction sent to equifax that this is inaccurate information. It has negatively impacted my credit for years, unbeknownst to me because I thought everything was paid off and all well with the loan, I never got a call for a missed payment even. I just want it removed simply, to avoid legal action if possible.

  Business Response

  Date: 07/20/2023

  The auto loan in question was obtained through Schools Financial Credit Union January 29th,2011.  Schools Financial and SchoolsFirst FCU merged January 1, 2022; all loans are now held by SchoolsFirst FCU.
  
  Records indicate Ms. ********** vehicle date of loss was June 21, 2016, and insurance proceeds were received on July 5, 2016.  However,Ms. ********** loan became past-due prior to the accident. Ms. ********** May 22, 2016, payment had not been paid and reported 30 days late to the credit bureaus in June 2016. This delinquency was reported prior to the accident and subsequent loan payoff.
  
  Based on our research, the insurance proceeds which paid off the loan were effective dated for June 21, 2016; therefore, the 30 day delinquency will be removed. In addition,the loan close date will be updated to reflect July 5, 2016.  SchoolsFirst has made these changes directly with the credit bureaus in response to Ms. ********** existing credit dispute that was submitted by the Member directly with the credit bureaus on July 13,2023.  The changes will reflect within 3-5 business days.  If ********************** has any additional questions regarding this, she can contact a credit dispute specialist at ************. ext. 8722.
  Sincerely,
  *************************
  Manager, Credit Bureau Reporting

• Initial Complaint

  Date:06/26/2023

  Type:Billing 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.

  SchoolsFirst retains ownership of the servicing of my loan yet they contract with a private label 3rd party subservicer who continues unsafe & unsound practices despite having already been cited for them. By phone & letter it's SchoolsFirst Federal Credit Union- Until it's time to take accountability! Then SF points their finger & suddenly it's all the subservicer's fault. Yet the **** states "The mere fact that a supervised bank or nonbank enters into a business relationship with a service provider does not absolve the supervised bank or nonbank of responsibility for complying with Federal consumer financial law to avoid consumer harm. A service provider that is unfamiliar with the legal requirements applicable to the products or services being offered, or that does not make efforts to implement those requirements carefully & effectively, or that exhibits weak internal controls, can harm consumers & create potential liabilities for both the service provider & the entity with which it has a business relationship." In the course of my "lengthy" history with this lender/servicer I have experienced the following: Loss Mitigation uses deceptive/misleading advertisement, gives false/conflicting/untimely information, obfuscates, limits access, ignores disputes. Abstract/repetitive/erroneous requests; They'll have you chasing a "complete" loss mitigation application until the dual-tracked Notice of Sale beats you to it! Meanwhile selectively refuses or "returns" payments, adding mysterious or frivolous astronomical fees. Accepted payments are misapplied, "unapplied" or not applied upon receipt. "Itemized" statements are a joke. Faulty record keeping, deceptive credit and irs reporting. Escrow department manipulates numbers at your expense. Buyer beware;There is no duty of care here, little regard for the letter or spirit of the law, zero accountability &seemingly no consequence. I have additionally provided this information to the ********** ******** ******* and the ****.

  Business Response

  Date: 07/07/2023

  We are bound by contract to report to the credit repositories. In
  reviewing the credit reporting history, it has been determined that the credit
  reporting on *** ******’s account is accurate. While
  we regret this might not have been the resolution for which the Member hoped,
  we appreciate that they brought their concerns to our attention.
  
  On May 2,
  2023, we approved a loan modification for *** ******. A loan modification
  document was mailed and emailed to *** ****** on May 2, 2023. The condition of
  his loan modification approval was to either call us and accept the loan
  modification or make his first trial payment which was due on June 1, 2023.
  Unfortunately, *** ****** did not comply with our requests. As of today, Mr.
  Powell’s loan is still severely delinquent. To bring the loan current, the
  total reinstatement amount and breakdown is listed below.
  
  The total
  due to reinstate *** ******’s loan is 78,149.01. attached, is the monthly
  billing statement that supports the reinstatement figures below.
  
  Total payments of $71,754.16
  Accrued late charges of $587.34
  Bad check fee of $25
  Payoff Statement Preparation Fee of $60
  Foreclosure Fees & Costs and Property Inspection fees of $5,722.51
  
  Since June 20, 2023 statement, an additional $200 foreclosure fee
  was accumulated. Currently, the total amount due is $78,349.01 which is good
  through July 14, 2023.
  
  The credit union makes a diligent effort to provide assistance to
  our Members in times of hardship. We regret that he is dissatisfied with the
  service he feels he received,
  
  If you have any questions or would like any additional
  information, please contact me at ************************** ** ** ************ *********
  
  Sincerely,
  ****** ***** 
  Manager, Real Estate Loan Servicing
  

  Customer Answer

  Date: 07/11/2023

  The seven pages of loan history that *** ***** provided shows the payments I have made on my loan since 2021. Yet according to my credit report there have been no payments made since March 2020. If SchoolsFirst is "bound by contract to report to credit repositories" why hasn't that information been reported? How has it been determined accurate if it reflects neither my recent payment history, nor my current account balance? Several weeks ago I had contacted the **** ****** ********** to discuss making a payment in compliance with the loan mod I'd been approved for. The rep I spoke with briefly reviewed my account and then insisted that her manager had instructed her to transfer my call to their subservicer as they were unable to assist me. The rep I was subsequently transferred to confirmed I'd been enrolled in the mod & informed me that the 1st payment had been paid. In fact SchoolsFirst had applied several of my payments that until then had been held in "suspense" towards crediting my account. Those payments exceeded the amounts necessary to cover the 1st two trial payments. Those payments are further indicated on the documentation provided by *** ***** (needless to say, none of those payments reported to credit repositories)! Yet still somehow I did not comply with their request? Furthermore, shortly after my call with the subservicer, I had sent a secure message to the **** ****** ********** asking for clarification & confirmation on the info provided to me during that call. Their response did not address my question nor provide any indication that I had not complied with their terms. Meanwhile the credit union's "diligent efforts to assist in time of hardship" have included adding approx $7,550.49 in fees to pay for their dual tracked attempt at a non-judicial foreclosure on my home, despite my exhaustive attempts to meet their unreachable demands. 0/5 stars. This credit union does NOT assist it's members in times of hardship. They ARE the hardship!

  Business Response

  Date: 07/20/2023

  As stated in our previous response, our records indicate that the
  credit report is accurate. The account initially went delinquent in May 2020. *** ****** is due for May 1, 2021 payment.
  
  The payments previously applied that were in suspense and were posted
  to the oldest delinquent payment, prior to the most recent modification
  approval on April 28, 2023.
  
  On April 28, 2023, *** ****** was approved for a three-month trial
  loan modification, and received the loan modification documents on May 2, 2023,
  with the first payment due on June 1, 2023. Notification of acceptance of the
  trial modification was due by May 12, 2023.
  
  In an attempt to continue assisting *** ******, on July 13, 2023, we attempted to contact him via telephone and left a voice message
  with our contact information. Our call was to request that *** ****** make his
  first trial payment of $2,959.73, which was due on June 1, 2023, as well as the
  agreed required $25,000.00 down payment. The trial payments are due for June 1,
  2023, July 1, 2023, and August 1, 2023.  A
  payment in the amount of $2,959.73 was received and applied to the suspense
  account on July 14, 2023, for the June payment that was due June 1, 2023. The
  payment is in suspense because we have not received the $25,000 down payment as
  stated in the modification offer. The July payment that was due July 1, 2023,
  has not been received.
  
  Although we have attempted to assist
  *** ****** by providing forbearance relief and loan modification approval over
  the past 3 years, *** ****** has not complied with the terms offered to him.
  
  If you have any questions or would like any additional
  information, please contact me at ************************** ** ** ************ *********
  
  Sincerely,
  
  
  ****** *****
  
  Manager, Real Estate Loan Servicing 

  Customer Answer

  Date: 07/22/2023

  **. ******* responses illustrate the same misconstrued and misleading spew that led me to file this complaint in the first place.

  Despite his insistence that the credit reporting was/is accurate, on July 13th SchoolsFirst sent a letter stating they had adjusted the reported information. Per their July 14th update, not only have they continued to suppress my payment history, my "accurate" balance has been updated to a number even further from the truth than previously reported! Although my most recent loan statement states a balance of $413,771 they reported an updated balance of $460,646! They claimed to investigate my dispute and then deliberately reported a $46,875 disparity. Additionally, the newly updated past due balance AND the monthly payment amount were also reported incorrectly! It's such a joke!

  On July 18th I received a letter informing me that I am no longer eligible for any foreclosure alternative because I did not comply with the terms set forth in the agreement. **. ***** insists I did not comply with the "agreed upon" $25,000 deposit due at the beginning of the trial period. However, the loan modification document that I was sent that he is referring to actually states $30,479 due along with the 3rd and final trial payment on Aug 1! Where is the consistency in any of this?

  **. ***** is correct in stating that I missed their call on July 13th. I can't even begin to describe the number of times I have called SchoolsFirst myself & the amount of my life that's been absolutely wasted! It's always a different story, and no resolution. This is the diligent effort I've been forced to work with, being strung along & gaslit with an endless labyrinth of lies & barriers disguised as "assistance". The myriad & extent of conflicting and false information coming from this business surpasses simple negligence or incompetence; I can't even make this stuff up! I appreciate the BBB for providing the platform to invite SchoolsFirst to demonstrate this for themselves.

• Initial Complaint

  Date:06/21/2023

  Type:Sales and Advertising 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 had an auto loan through schools first in 2018. I was in an accident on September 21, 2018. I had gap insurance because I had bought the car at a dealership. My car was deemed totaled and my loan was paid off to my knowledge. I am not sure why I am just now seeing late penalties on this account. It is claimed that I have two 30 days and one 60 day late payment. These payments occurred after I was told the loan was dealt with. It shows I paid September, which is correct because the accident was later in the month. It later says that I missed the October payment, as far as I was told, I no longer had to pay, but somehow I paid November and then missed ******************* SchoolsFirst was paid in full for the auto loan from insurance that I responsibly carried for that reason. I want the correction sent to all credit bureaus that this is inaccurate information. It has negatively impacted my credit for years, unbeknownst to me because I thought everything was paid off and all well with the loan, I never got a call for a missed payment even. I just want it removed simply, to avoid legal action if possible.

  Business Response

  Date: 06/29/2023

  The auto loan was obtained through Schools Financial Credit Union February 2017.  Schools Financial and SchoolsFirst FCU merged January 1, 2020; all loans are now held by SchoolsFirst FCU. The loan was reported 30 days delinquent in Oct and Nov 2018. Schools Financial, spoke with ************** regarding her auto loan delinquency on Sep 4, 2018.  **************** auto loan was 17 days past due. She advised her vehicle was involved in an accident Aug 28, 2018, and was awaiting results of her insurance claim.  She was advised she was responsible for the loan and payments due, until the loan was paid-in-full.  ************** was also advised of negative credit impact at 30-days delinquency due to non-payment.  ************** was contacted on September 11,2018, and informed the loan was 24 days delinquent and encouraged to make a payment before late reporting to the credit bureaus took place.  ************** was made aware of her responsibility to make timely loan payments during the insurance and GAP insurance claim. On Sep 17, 2018, ***** advised she had initiated a GAP claim.  She was 30-days delinquent and was advised of negative credit reporting. Continued conversations were had through Nov 20, 2018, when she advised she completed paperwork for a GAP claim.  ************** was advised of negative credit reporting impact. GAP payment was received Dec 14, 2018, and applied to the loan effective Nov 21, 2018,there was a balance left on the auto loan.  Records show ***** was granted payment deferments which were not covered by her GAP policy.  On Feb 7, 2019, ************** paid the remaining balance and the auto loan was closed that day. Based on our research, ***** did not make timely loan payments while her insurance claims were being processed, the credit reporting is deemed accurate and SchoolsFirst FCU will not be making changes to the credit report. If ************** has any questions, she can contact a credit dispute specialist at ************. ext. ****. **************, Manager, Credit Bureau Reporting

• Initial Complaint

  Date:04/06/2023

  Type:Billing 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 saw my credit report and noticed that there are inaccurate and fraudulent accounts I needed to report and correct by your company. Evaluate and investigate those account that is not 100% accurate. Here are the lists that indicate the company name, balance, and date last reported:Account Name SCHOOLSFIRST Balance $302.00 Account Number ***********

  Business Response

  Date: 04/11/2023

  ********* complaint.  Refer to response given in complaint ID #******** and #********.

   

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

  Vice ********** ****** ******* Experience

• Initial Complaint

  Date:03/13/2023

  Type:Billing 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.

  Account # ******* I have a late payment that has been posted to my credit file I have been paying my account through easy pay since the start of my loan this service ended in August of 2022 and I began to walk my payments in when I lived locally because the new process was difficult and confusing for me I moved out of town in November 2022 and began to try to use their online system to pay my bill which is resulted in many difficulties. I've called several times and made attempts to pay online to no avail. I want this negative report taken off of my credit file as I keep trying to pay my bill it says there's no amount due, I have pictures and proof of my attempts to pay and will go to small claims court if this is not resolved

  Business Response

  Date: 03/19/2023

  We are in receipt of a complaint filed with the BBB by ***********************.  In the complaint, ************** states SchoolsFirst FCU made a negative report on her credit file and believes it to be the result of the discontinuation of the EasyPay payment system, which was sunset by SchoolsFirst in August of 2022.  ************** wants the negative report taken off her credit file.
  
  To research this complaint internal notes and records were reviewed.  Through our research, we are unable to determine what negative reporting ************** is referring to.  Her most recent payment history shows 4 payments of at least 30 days past due, some of which predate the cessation of the EasyPay payment system in August 2022.  In addition, according to our records ************** has had 9 payments of between ***** days past due, which would seem to indicate issues with payments not resulting from the aforementioned closure of EasyPay.
  
  SchoolsFirst provided former users of the *************** notice of its discontinuation in May and June 2022 with alternatives available to our Members. 
  
  Based on our investigation were unable to determine which negative reporting is being referred to and the basis for this credit dispute.  SchoolsFirst FCU understands the importance of accurate credit reporting and abides by all laws and regulations pertaining to fair credit reporting.  If ************** wishes to file a credit dispute and provide all the information necessary for us to investigate it, she may visit any branch or contact our ********************* at ************ to request more information.
  
  
  Sincerely,
  *****************
  Manager, Consumer Loan Servicing

  Customer Answer

  Date: 03/19/2023

   That report of 9:30 day delinquent payments is defamation and inaccurate information and I will be filing a legal lawsuit

  Business Response

  Date: 03/20/2023

  We are in receipt of ****************** response and her intent to file a lawsuit regarding the decision to not correct accurate credit reporting.

   

  Sincerely,

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

  Vice ********** ****** ******* Experience

• Initial Complaint

  Date:02/09/2023

  Type:Billing 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.

  Upon seeing my credit report, it pays my attention that the following accounts are inaccurate and fraudulent. I am a consumer by law. I am not happy about it what I saw. This hurt my credentials as a consumer. Here are the listed details of the account with discrepancies:Account Name SCHOOLFIRST FCU Balance $302.00 Account Number ***********

  Business Response

  Date: 02/17/2023

  ********* complaint.  Please refer to the response given in complaint id numbers: ******** and 17493378.

   

  Thank you,

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

  Vice President ****** ******* Experience

• Initial Complaint

  Date:01/12/2023

  Type:Billing 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 saw my credit report and I noticed that there are inaccurate and fraudulent accounts that I needed to report and correct by your company. Evaluate and investigate those account that is not 100% accurate. Here are the lists that indicates the company name, balance, and date last reported:Account Name SCHOOLSFIRST Balance $302.00 Account Number ***********

  Business Response

  Date: 01/12/2023

  Duplicate complaint.  Please refer to the responses given to complaint #******** filed on February 16, 2022, and #******** filed on July 19, 2022.  **************** continues to file complaints on valid debts.  This is excessive work for us to continuously respond to these complaints that have no merit.  It takes us away from assisting our ******s and we choose to not respond to these complaints in the future.  The Better Business Bureau should look at the history of these complaints and responses and do better diligence in preventing them from going through.

   

  Sincerely,

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

  Vice President ****** ******* Experience

• Initial Complaint

  Date:12/29/2022

  Type:Billing 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.

  Upon seeing my credit report, it pays my attention that the following accounts are inaccurate and fraudulent. I am a consumer by law. I am not happy about it what I saw. This hurt my credentials as a consumer. Here are the listed details of the account with discrepancies:Account Name SCHOOLSFIRST Balance $302.00 Account Number ***********

  Business Response

  Date: 12/29/2022

  We are in receipt of the complaint filed by ******************************  We consider this a duplicate complaint that has been responded to in February 2022 alleging that **************** was a victim of identity theft, and again in July 2022 for inaccurate credit reporting.  Our responses, after thorough research remain the same.  We are reporting our credit accurately and no changes will be made.  **************** has been notified of all loan activity through monthly statements as well as delinquency notices.

   

  SchoolsFirst FCU understands the importance of accurate credit reporting and abides by all laws and regulations pertaining to fair credit reporting.  If **************** would like to discuss repayment options, she can contact our Collections team at **************************.

   

  Sincerely,

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

  Vice ********** ****** ******* Experience

• Initial Complaint

  Date:12/21/2022

  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 had a car loan with Schools Financial Credit union, which was paid on time monthly for 5 years through auto payment. My final loan payment was due around September. I checked to see that the autopayment was set up and saw from my bank that the payment was going to go through, just like all of the others. For some reason the payment did not go through. My bank (DCU) indicates no reason that the payment wouldn't have gone through (there was over 2,000$ in the account) except possibly because the final balance due was less than the autopayment sent to Schools. One representative (***********************) indicated that Schools notified me by email about the missed payment, one representative (*****) swears that Schools doesn't communicate by email. The representative (***********************) states that Schools will start a credit dispute on my behalf and asks me to check the process within a month. By this point I have already paid off the total balance due and the car is paid off. I call back a month later, as indicated to be told by ***** that she "has no idea what I am talking about", refuses to follow up with the credit dispute. Throughout this process, I keep getting late notices from schools for 15$, 30$, etc, which I have to call a representative to remove (because there is NO MORE BALANCE). They remove them each time and then a new "late payment" for some random amount keeps appearing on my credit score. Schools has now posted 3 months worth of late payments onto my credit score, and continues to do so despite me not owing them anything. Each time I call, the representatives absolve themselves of the blame, but refuse to actually do anything to address the issue. At this point, I am unsure how to resolve the issue but it has dropped my credit score by 100 points and continues to do so.

  Business Response

  Date: 12/27/2022

  In review of this matter, it was determined that **************** obtained his auto loan with Schools Financial Credit Union on January 31, 2017. Schools Financial Credit Union and SchoolsFirst FCU merged January 1, 2020; all accounts/loans are now held by SchoolsFirst FCU.The last on-time payment received to this auto loan was July 22, 2022. Mr.******* final loan payment would be due August 28, 2022; however, this payment was not satisfied until November 4, 2022. Records indicate delinquency notices were sent to Mr. ******* address on file, in addition to email notices.
  
  Further research into this matter shows **************** satisfied his monthly loan payments through Easy Pay; a service offered by Schools Financial Credit Union that allowed funds transfers between financial institutions. This service was discontinued on August 8, 2022, prior to Mr. ******* final loan payment. Members who utilized this service were notified of this discontinuation by mail or email on June 23, 2022. Furthermore, records indicate that while Mr. ******* email address on file was accurate, the mailing address on file at the time all notices were being sent was incorrect, unbeknownst to SchoolsFirst FCU. *************** updated his address when final payment was satisfied on November 4,2022. **************** was charged two $15 late fees, as disclosed per his Security Agreement. These fees have since been refunded to **************** and the auto loan is now closed.
  
  While SchoolsFirst FCU is accurately reporting the payment delinquency, we can see the events that led to the final payment not being satisfied in a timely manner. SchoolsFirst FCU will remove the delinquent reporting from Mr. ******* ********************** report. Mr.******* ********************** report should be updated within 60 days. If **************** has any questions regarding this matter, he can contact our ********************** dispute team at ***********************.
  
  
  Sincerely,
  
  *****************
  Manager, Consumer Loan Servicing