Complaints

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

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Abound Federal Credit Union has 18 locations, listed below.

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  Abound Federal Credit Union

  3939 S Dixie Blvd Radcliff, KY 40160-5113

  
• 

  Abound Federal Credit Union

  1453 Elizabethtown Rd Leitchfield, KY 42754-9122

  
• 

  Abound Federal Credit Union

  1109 N Dixie Ave Elizabethtown, KY 42701-2779

  
• 

  Abound Federal Credit Union

  1600 Spearhead Division Ave Bldg 6424 Fort Knox, KY 40122-5001

  
• 

  Abound Federal Credit Union

  9915 Dixie Hwy Louisville, KY 40272-3943

  

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:08/07/2023

  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.

  On the night of June 25th a tree fell on my vehicle. I reported the claim the following morning to Allstate. On July 12th I was contacted by Allstate to let me know that the car was a totalled loss because the cost of repairs exceeded the value of the vehicle. On July 18th I went into Abound to speak with them about what my options were. I let them know then I wanted to keep the car. It's was still our only good vehicle at the time and my child has a bone condition the requires many hospital and specialist visits. Abound told me they had to figure out what they would be receiving from insurance. So I forwarded the market value to *********. I was told there would be an additional balance owed but I had gap insurance. I was lead to believe gap insurance was a good idea to have for my loan with Abound. He notified me that we would have to wait until they heard from insurance and they recieved a form of payment. We spoke about keeping the car (July 18th). I was not receiving calls from Abound or Allstate so I had to reach out multiple times. We sent in cars which we thought we would be able to roll the existing amount into, with Abound like I was told by *********. I didn't hear back. When I did hear back it was from insurance. Telling me my car was going to auction because the lean holders (abound) didn't give me the option to purchase. Which I had already told the two people working my case in Leitchfield! Now I'm without a vehicle, because I couldn't take out a loan with you guys without an insurance payment! We sold our work vehicle to pay the 3,400 we were told for the buy back price. Allstate is coming in to days to take our only vehicle leaving us stranded from work and appointments! I'm told there is nothing I can do at this point and I'm completely lost. There is no telling how many people are being sold gap insurance knowing the car value is less than the loan value, automatic deny to claim in my case. Abound cost me my vehicle and maybe my job.

  

  Business Response

  Date: 08/17/2023

  *** *****

   

  Thank you for speaking with me today about your concerns. As discussed, you have provided more detail and
  information for the Credit Union to look into so we can fully investigate the matter. We will be following up with you
  for updates and additional information as we further investigate your concerns. 

   

  Thank you,

  Customer Answer

  Date: 08/18/2023

  I don't feel anything has been accomplished 

  

  Business Response

  Date: 08/30/2023

  Member
  expressed additional concerns, that they had not been contacted regularly during
  the process, that GAP insurance did not seem to pay the correct amount, that
  the Credit Union did not release the lien on the collateral to the insurance
  company, and that the balance on member’s loan did not decrease enough when
  making regularly scheduled payments. The Credit Union had discussions with
  member on the phone in which the following were discussed:
  
  1.
  Contact-The individual in question was coached on the level of communication
  and service provided.
  2. GAP insurance-
  Calculation regarding amounts paid were explained. GAP amount paid at 125% was
  accurate.
  3.Release
  of lien-The Credit Union contacted the insurer of the collateral and informed
  them that upon receipt of the quoted insurance settlement, the lien for the vehicle
  would be released. To date the insurance company has not provided the funds.
  4. Balance
  Decrease- The member added credit life and disability insurance to the loan at origination.
  This caused a monthly fee outlined in the agreement to be added to the
  principal of the loan each month. This amount accounts for the perceived lesser
  decrease of the balance over time. Payments to loan were applied correctly.
  
  

  Customer Answer

  Date: 08/31/2023

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:
  
  The insurance company has yet to pay so therefore I do not know the remaining balance. I also do not know if abound is willing to work with me on this additional amount. I will accept after abound shows they are willing to help and redeem themselves 
  
  Sincerely,
  
  
  
  ***** ****

  

  Business Response

  Date: 09/07/2023

  Thank you for responding. The Credit Union has received the check from Allstate and it has been applied to the loan. We will continue to be in communication with *** **** about his concerns. 

  Customer Answer

  Date: 09/07/2023

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:
  
  After everything that has happened and after speaking with someone about the non payment abound put 3 delinquencies on my credit. I am continuing to be punished for my vehicle being totaled and the lack of communication from the insurance company and abound. 
  
  Sincerely,
  
  
  
  ***** ****

• Initial Complaint

  Date:05/12/2023

  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.

  Abound fcu has participated in the practice of adding unnecessary insurance policies to collateral based automotive loans. I currently have a policy in which insurance has been added by the lien holder. I have maintained full coverage insurance since my purchase. I have presented my personal insurance through their affiliated website for verification multiple times. I have presented myself with printed copies in person at multiple branches as proof. Each time I visited a branch I was assured the issue issue was resolved. Additionally , I have provided email pdf copies to branches. My agent has provided email copies and attempted contact with no resolution. The issue has not been resolved and I believe the business has not performed a “good faith” effort to verify policies prior to the application of their own insurance policies.

  

  Business Response

  Date: 05/22/2023

  Credit
  Union attempted to contact insurer to verify coverage provided. Insurance
  company did not answer their phones or respond to any communications. When
  calling the insurance company to verify the voicemail indicated it was
  full and unable to receive voicemail. CPI was added because, despite
  numerous attempts to verify the documentation provided with the insurer,
  Credit Union staff was unable to receive any response from the insurance
  company. Insurance was finally verified May 2023 and CPI has been canceled. 

• 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.

  I have been having trouble with this bank I’ve been banking with them since I was a teenager and everything was ok until recently. I would have my checks deposited and they would talk large sums of money without an explanation this has been happening for months I was so tired I got another bank account and now I get my full checks. Every time I call and ask about my missing funds it goes on deaf ears please help.

  

  Business Response

  Date: 03/22/2023

  Tell us why here...
  The Credit Union has reviewed you account and noted that all
  transactions were processed in accordance with its Membership Agreement. The
  Credit Union found no evidence of funds being taken from any checks deposited. It
  appears that withdrawals from Planet Fitness resulted in your account being
  overdrawn. The Credit Union refunded $31.00 in NSF fees to your account on
  January 17th 2023.

• Initial Complaint

  Date:02/16/2023

  Type:Billing 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.

  Deceptive advertising! My Abound IRA CD matured last March that was and is still being advertised by Abound as an "IRA CD" without stating whether it is a Traditional or a ROTH IRA. I funded it with after-tax dollars and on Feb. 10, 2023 received a tax notice (1099-R) stating I must again pay tax on that after-tax money, plus on the interest it earned. As a result, I will be paying $1100 extra in tax on an IRA CD that I already paid tax on, plus I am required to pay tax on its interest. My five-year fixed-rate investment (IRA CD #********) actually cost more than it gained as a result of Abound's deceptive advertising.
  
  It is unethical for Abound (TIN **********) to accept after-tax cash from my checking account on a product designed for conversion or rollover from a pre-tax retirement account. They did this though, happily accepting my already-taxed cash, and are now saying "tough luck". ******** (manager) at the ********* KY office promised me a phone call ("within 24 hours") from the regional branch that never happened, referencing ticket #******* which is probably a fake number. Also, Abound deleted my online account (I can no longer log in) so all matters pertaining to this transaction have disappeared.

  

  Business Response

  Date: 02/23/2023

  On March 20, 2017 **** and ******** ********* submitted a signed Individual Retirement Account Application for a traditional IRA. The contribution type was selected as "Regular". On April 5, 2017 **** ********* submitted the signed Traditional IRA Contribution and Investment Selection form to fund the IRA certificate from their primary share account at the Credit Union. On April 5, 2017 the funds were deposited into the share account and then transferred to the IRA certificate to fund it. On March 9, 2022 **** ********* submitted a signed Traditional IRA Withdrawal Authorization form and selected "Normal Withdrawal" as the withdrawal reason. Those funds were placed by member into their IRA share account on March 9, 2022 and then transferred to the member's share savings account on March 10,2022. On March 10, 2022 the full proceeds from the IRA certificate were withdrawn by the member via a cashier's check made to them. After a regular withdrawal from a traditional IRA, the Credit Union is required to generate and send a 1099-R, "Distributions from Pensions, Annuities, Retirements or Profit-Sharing Plans, IRAs, Insurance Contracts, etc." form. This form reflected the total distribution the member elected from their traditional IRA in 2022.

  Customer Answer

  Date: 02/23/2023

  
  
  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:02/03/2023

  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.

  The credit union states they do not charge early pay off fees. However, they charged me "interest" on non due payment extra payments.

  

  Business Response

  Date: 02/13/2023

  The Credit Union attempted to contact you on February 13, 2023 to help explain the required payment on your loan and were unable to get in touch with you.

  The loan agreement/note you signed on October 1,2022 states the following in paragraph 3, "Interest under this Note will accrue on a daily basis on the unpaid principal balance set forth above." As a result, even when you are paid ahead, interest continues to accrue on the unpaid balance of the loan. This resulted in the required interest payments on the paid ahead payments. 

• Initial Complaint

  Date:10/20/2022

  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.

  Abound is not adding payments to an account. I have confronted it with them before and they excuse it as a glitch in the app.
  My credit card account got so high that I transferred $5000.00 to another credit card holder. That according to them brought out down to say $5088 this is a $10,000 limit. The balance did come down after awhile on the app. However, I noticed last night, Oct 19,2022. It jumped up to $9615.06. I called the automated system this morning and that was the balance I was given. I called the bank when it opened and once again a glitch, which as always immediately gets changed on the app. I questioned some other deposits and was out on hold for 20 minutes and no one returned. Called back and the lady tried to put me on hold again. So I'm asking who to talk to at the bank, but she hung up. Given I'm upset, I've worked hard for the money in that bank. I really want to know how much of my money hasn't been applied correctly

  

  Business Response

  Date: 10/30/2022

  The Credit Union called Ms. ******* on 10/28/2022. During the conversation, Ms. ******* brought up additional concerns not outlined in the original complaint text. Because of these additional concerns, the Credit Union is scheduling an in person meeting with Ms. ******* in order to assist her with all her concerns. 

  Customer Answer

  Date: 11/05/2022

  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  
  Regards,
  
  
  
  ****** *******

• Initial Complaint

  Date:10/03/2022

  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.

  A payment went through my checking account nearly two weeks after being made throwing my account balance off without me knowing. The charge was from “****** *****”. Nearly 20 overdraft charges were posted to my account after this and the bank said the “maximum” they could refund was three. At 31 dollars a piece the charges totaled nearly 600 dollars. Their system should be able to shut down at a maximum of 5 overdraft charges, preventing their loyal customers from being taken advantage of.

  

  Business Response

  Date: 10/12/2022

  The Credit Union has reviewed your complaint and noted that due to your being active in our Courtesy Pay program you have had numerous transactions honored. The Credit Union will refund the associated fees as a one-time courtesy. If you have any additional questions please reach out to ***************@********.com.