Credit Union
Selco Community Credit UnionThis business is NOT BBB Accredited.
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Complaints
This profile includes complaints for Selco Community Credit Union's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 13 total complaints in the last 3 years.
- 5 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:10/11/2023
Type:Billing IssuesStatus: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 making additional payments to principal on a HELOC account that has been open with SELCO Community Credit Union for several years. I started making additional payments in May of this year and after noticing that the balances didnt seem to reflect the additional payments several months later, I reviewed statements in detail to find that I was being charged interest on additional payments to principal.In August of this year, I contacted a customer representative of ********************** and after 40 minutes, I was told that interest fees were charged because the funds came from an outside account.I stated to the representative that it should not matter where the funds originated (which is the same account linked to ********************** for auto pay) and that I would like the interest to be reversed, the customer service representative agreed but later stated they could only go back 90 days. I stated my disagreement with the decision and requested that all interest charges over the last 6 month should be reversed. I received correspondence two weeks ago with the same statement that they would reverse interest for 90 days. This has still not been reflected on my HELOC account.I believe this is also in violation of banking practices set by the Securities and ******************* for illegal accounting practices.Sincerely,*****************************, CSTBusiness Response
Date: 10/16/2023
Thank you for sharing your concerns. I can appreciate your efforts to reduce your interest expense.
After speaking with the ************** and Lending Administration,we are crediting interest back to March, **************************** recognition of your being a member with us since 2015 and in appreciation of your banking relationship with us. Please know that the refund (just under $2 total) is not because there was some issue with SELCOs system or SELCO got it wrong. I am hopeful that this courtesy is a way forward for us all.Please know you were provided with the correct information during your initial interaction; namely, that when you scheduled your payment with funds originating outside of your SELCO accounts, there was no option to apply those funds directly to principal. The otherradio button you selected when making these payments had to do with the payment amount not whether you could apply the funds directly to principal. For purposes of this response, it does not so much matter where the funds originate, but it does matter how funds are transferred. Perhaps I am sharing more information than necessary, but funds originating external to SELCO flow through a different banking system and that system does not directly integrate with our core banking platform. Alternatively, internal transfers occur through a system that interacts directly with our core banking platform thus allowing for additional principal payments; which is why there is a radio button allowing for payments to principal only in this latter scenario.
Please know that SELCOs current approach is not in any violation of rules or regulations, SEC, accounting or otherwise and SELCO does not have current intentions to work with any third-party vendor to allow for direct principal payments when originating from a source other than internal to SELCO as you did during these transactions. One solution, recognizing that it is something less than you otherwise desire, would be for you to originate the funds to your savings account and then make the transfer to principal. Please also know that we are looking at same day ACH and options for payments via debit cards which may provide you with additional and/or better options in the coming months.
In closing I would request that if you have any future concerns, please reach out and escalate to leadership (including me as an option) as SELCO values our member relationships and we work hard to address and resolve concerns before the member feels the need to escalate to external agencies.
Respectfully,
*******************************, SVP, Enterprise Risk & GCCustomer Answer
Date: 10/16/2023
Complaint: 20728343
I am rejecting this response because: The amount of additional interest charged to me amounted is well over $300.00. SELCO is actually claiming that the refund is (just under $2 total)?Are you kidding me?
Some interest charges exceeded ***** for a single payment alone. Where are you getting $2.00?These are the additional payments and interest charged. I have been attempting to resolve this since August and twice requested to have management contact me for resolution. So suggesting I do that in the future really isnt helpful.
March 16, 2023.
Interest
$59.34
Change to Principal
-$1,240.66
April 13, 2023
Interest
$57.85
Change to Principal
-$1,242.15
April 27, 2023
Interest
$7.70
Change to Principal
-$692.30
May 11, 2023
Interest
$51.84
Change to Principal
-$1,248.16
June 8, 2023
Interest
$46.56
Change to Principal
-$403.44
June 12, 2023
Interest
$13.16
Change to Principal
-$586.84
June 22, 2023
Interest
$31.61
Change to Principal
-$418.39
July 6, 2023
Interest
$28.42
Change to Principal
-$721.58
July 10, 2023
Interest
$10.73
Change to Principal
-$689.27
July 20, 2023
Interest
$25.33
Change to Principal
-$874.67
August 17, 2023
Interest
$53.91
Change to Principal
-$696.09
August 21, 2023
Interest
$8.83
Change to Principal
-$291.17
August 31, 2023
Interest
$12.56
Change to Principal
-$887.44
Sincerely,
*****************************Business Response
Date: 10/23/2023
There is nothing new to add to SELCO's response. Besides attempting to indicate what Complainant paid, Complainant did not produce any information evidencing that SELCO's math is incorrect; conclusive statements without support is akin to a guess and is unnecessary. SELCO calculated the interest, refunded as a courtesy and believes its math is correct. If Complainant has evidence beyond his guess that SELCO's math is incorrect, I am happy to take another look.
Respectfully,
*******************************
Customer Answer
Date: 10/23/2023
These were the interests charges imposed by SELCO to my additional principal payments.
SELCO does not offer a selection to make payments to principal when paying from a linked checking account, they have a button maother.
P***** in this manner allows them to charge interest on additional payments to principal. Payments are listed below and all were additional payments to principal that should not have incurred a interest charge.March 16, 2023.
Interest
$59.34
Change to Principal
-$1,240.66
April 13, 2023
Interest
$57.85
Change to Principal
-$1,242.15
April 27, 2023
Interest
$7.70
Change to Principal
-$692.30
May 11, 2023
Interest
$51.84
Change to Principal
-$1,248.16
June 8, 2023
Interest
$46.56
Change to Principal
-$403.44
June 12, 2023
Interest
$13.16
Change to Principal
-$586.84
June 22, 2023
Interest
$31.61
Change to Principal
-$418.39
July 6, 2023
Interest
$28.42
Change to Principal
-$721.58
July 10, 2023
Interest
$10.73
Change to Principal
-$689.27
July 20, 2023
Interest
$25.33
Change to Principal
-$874.67
August 17, 2023
Interest
$53.91
Change to Principal
-$696.09
August 21, 2023
Interest
$8.83
Change to Principal
-$291.17
August 31, 2023
Interest
$12.56
Change to Principal
-$887.44Customer Answer
Date: 10/23/2023
These were the interests charges imposed by SELCO to my additional principal payments.
SELCO does not offer a selection to make payments to principal when paying from a linked checking account, they have a button maother.
P***** in this manner allows them to charge interest on additional payments to principal. Payments are listed below and all were additional payments to principal that should not have incurred a interest charge.March 16, 2023.
Interest
$59.34
Change to Principal
-$1,240.66
April 13, 2023
Interest
$57.85
Change to Principal
-$1,242.15
April 27, 2023
Interest
$7.70
Change to Principal
-$692.30
May 11, 2023
Interest
$51.84
Change to Principal
-$1,248.16
June 8, 2023
Interest
$46.56
Change to Principal
-$403.44
June 12, 2023
Interest
$13.16
Change to Principal
-$586.84
June 22, 2023
Interest
$31.61
Change to Principal
-$418.39
July 6, 2023
Interest
$28.42
Change to Principal
-$721.58
July 10, 2023
Interest
$10.73
Change to Principal
-$689.27
July 20, 2023
Interest
$25.33
Change to Principal
-$874.67
August 17, 2023
Interest
$53.91
Change to Principal
-$696.09
August 21, 2023
Interest
$8.83
Change to Principal
-$291.17
August 31, 2023
Interest
$12.56
Change to Principal
-$887.44Customer Answer
Date: 10/23/2023
You responded, Complainant did not produce any information evidencing that SELCO's math is incorrect; conclusive statements without support is akin to a guess and is unnecessary. SELCO calculated the interest, refunded as a courtesy and believes its math is correct. If Complainant has evidence beyond his guess that SELCO's math is incorrect, I am happy to take another look.
This is not a guess these are the interest fees charged to me for additional payments to principal. No interest should have been charged.
March 16, 2023.
Interest
$59.34
Change to Principal
-$1,240.66
April 13, 2023
Interest
$57.85
Change to Principal
-$1,242.15
April 27, 2023
Interest
$7.70
Change to Principal
-$692.30
May 11, 2023
Interest
$51.84
Change to Principal
-$1,248.16
June 8, 2023
Interest
$46.56
Change to Principal
-$403.44
June 12, 2023
Interest
$13.16
Change to Principal
-$586.84
June 22, 2023
Interest
$31.61
Change to Principal
-$418.39
July 6, 2023
Interest
$28.42
Change to Principal
-$721.58
July 10, 2023
Interest
$10.73
Change to Principal
-$689.27
July 20, 2023
Interest
$25.33
Change to Principal
-$874.67
August 17, 2023
Interest
$53.91
Change to Principal
-$696.09
August 21, 2023
Interest
$8.83
Change to Principal
-$291.17
August 31, 2023
Interest
$12.56
Change to Principal
-$887.44Customer Answer
Date: 10/24/2023
Complaint: 20728343
I am rejecting this response because:
No interest should have been charged to additional principal payments.Ive Including all Interest that SELCO has charged. There is no math for SELCO to do. The interest charges should not have been applied.
Sincerely,***************************, CST
*****************************Business Response
Date: 10/31/2023
********************** continued rejection of SELCO's response is no basis for further discussions. As has been previously stated, ********************** assumption that SELCO should have known he was attempting to apply his payments to interest does not represent any obligation to reduce the interest as requested. The fact that SELCO agreed to reduce the interest was a courtesy, not an obligation. SELCO made the interest adjustment as requested. This loan involves simple interest and interest accrues daily. The calculations were made manually and a credit was issued. It appears ********************** desires to recast every single payment so that his payment history will reflect principle only payments even though his other regular payments will reflect more interest than as presently shown (because interest continues to accrue daily). What ****************** asks represents form over substance and I am unwilling to put SELCO employees through the unnecessary effort to recast the payments as ****************** prefers especially when the total adjusted interest would be the same as already credited.
Further, ********************** desire to allow principal only payments from his external funds source in the way he scheduled his payments is not currently a capability of SELCO and SELCO does not have any contractual, legal or other sort of obligation to accommodate his request. SELCO has no immediate plans to build any sort of capability.
********************** complaint has been responded to fully and there is nothing new associated with his unwillingness to accept SELCO's response. Accordingly, unless ****************** can actually demonstrate SELCO's calculations are inaccurate, there is nothing more to do in this matter and the BBB should close this case. SELCO is not interested in any sort of mediation or arbitration.
I have no further intentions to respond in this matter without something new. In sum. I think it's unreasonable to continue this matter when ****************** requested a refund for something that was not in error, and the amount of the refund provided represents what SELCO believes is any additional interest that accrued by not applying intended principal payments as intended.
Customer Answer
Date: 11/15/2023
SELCO did not address the main issue of no available way to make a principal only payment when using a payment source other than SELCO checking.
This issue is NOT resolved and I am still out over $400.00 in additional interest.
Customer Answer
Date: 11/16/2023
These two screenshots show that SELCO has no option to pay Principal Only when using funds from my linked account.
This option is clearly available when paying from SELCO checking but is removed when paying from any other account, this is a deceptive way to apply additional interest and should be addressed.
I do not accept the response from SELCO.
Customer Answer
Date: 11/16/2023
These two screenshots show that SELCO has no option to pay Principal Only when using funds from my linked account.
This option is clearly available when paying from SELCO checking but is removed when paying from any other account, this is a deceptive way to apply additional interest and should be addressed.
I do not accept the response from SELCO.
Customer Answer
Date: 11/16/2023
These two screenshots show that SELCO has no option to pay Principal Only when using funds from my linked account.
This option is clearly available when paying from SELCO checking but is removed when paying from any other account, this is a deceptive way to apply additional interest and should be addressed.
I do not accept the response from SELCO.
Initial Complaint
Date:07/22/2023
Type:Customer Service IssuesStatus: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 am not liable with this debt with selco community credit union, I do not have a contract with selco community credit union, they did not provide me with the original contract as I requested.Business Response
Date: 07/29/2023
I am in receipt of the complaint. Upon review of this matter, it appears you entered into a Stipulated Judgment in November, 2022 acknowledging the debt and agreement to repayment terms. Perhaps I am missing something. Perhaps you are confusing this matter with some other financial institution.
Respectfully,
*******************************
Initial Complaint
Date:02/28/2023
Type:Service or Repair IssuesStatus: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 requested for a supervisor to contact so I can file a discriminatory claim Ive been trying to retrieve my funds from an account here at selco for over a year including my most recent statements they told me a disabled individual to get the document notarized last year and I couldn't so this year I requested a new one for this year 2023 when I was sent it I immediately got the address affidavit notorized and to date it's been a week and a half I checked with an employee this past Friday and I was told it wasn't received I never seen a piece of metered mail take that long to get from ** to OR which means if it wasn't received by now it could take two week to get there and tweeks back I also know if you send any important documents through secure mail password coded it can be accepted which I sent in a copies as well to get the process started & a disrespectful Selco employee ignored it and hasn't issued me a check yet this is very racist and prejudice to holds someone's money afterwards how can I file a complaint I shouldn't have to keep being delayed they didn't even want to verify my identity through Co ops shared branching because they were so greedy for me to pay a fee for notary and being am have a mobility impairment handicap disabled to make it hard for me respectfully ******Business Response
Date: 03/02/2023
With respect, this matter has been ongoing since we closed this account in December, 2021. I have responded to numerous complaints on behalf of SELCO Community Credit Union ("SELCO") to the ***************. Please review attached response to the ***************. ******************* has been advised multiple times over the last some 15 plus months as to what she needed to do in order to receive the balance of her account. I find it incredible that she is complaining to the BBB about the delay associated with her own behavior and, apparently, the postal service and then attempting to impute any such delay to SELCO. ******************* should be directing her complaint at herself, and, to some much lesser extent, the postal service for any such perceived delay. SELCO is not responsible for ensuring the postal services delivers mail within *********************** desired timeline. I equally find it nothing short of amazing that ******************* is disappointed with any perceived delay after she has spent more than one year and multiple emails and complaints later to simply execute the affidavit as required by SELCO. Now ******************* is upset that SELCO did not mail the balance of her account within a few days of her mailing the affidavit? Amazing. SELCO received the affidavit via the postal service on Tuesday the 28th. The funds were withdrawn the same day we received the letter and ******************* was also emailed on the same day indicating the funds were withdrawn and would be mailed to the address provided.
This complaint represents nothing more than a baseless and abusive effort to further and unnecessarily paint SELCO in a negative light while also consuming SELCO resources to address inappropriate behavior by *******************; behavior that could have and should have been avoided by ******************* more than one year previous to this day.
Respectfully,
*******************************, SVP & GC
Customer Answer
Date: 03/02/2023
I'm confused on why every single employee at this company has a personal vendetta against me I wanted what was more important which was my money & statements for my acct you have no right to talk to me as if you know me this is one of many reasons why I moved on I always wondered if there was something about a great customer that sets off a working employee respectfully ***********;
Complaint: 19510258
I am rejecting this response because:
Sincerely,
********************
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