Mistakes, Mistakes & More Mistakes!

I've had nothing but trouble with Salem Five.  Here is my experience, you be the judge.

First mistake: they started to withhold interest - when I asked why they said I must have inadvertently "checked off I was subject to backup withholding on my W9".

The next time they ****ed up was when they unexpectedly lowered my interest rate without informing me -- after they had assured me several months before that the rate was good thru a certain period. I never would have noticed but learned on the internet that other people had complained of the very same thing. That's when I checked my statement. The problem is that you won't know that your interest rate has been changed in the 30 days previous until you receive your next statement - so it was pretty deceptive. I phoned and demanded to speak to a supervisor who quickly "fixed the problem" when she heard me say I was going to complain online. 

The last time was the final straw. After I'd been with them for a considerable time they informed that my SS# was incorrect and if I didn't send in the proper one within a certain time span I would go into backup withholding.  It was their error.  Obviously someone had mistyped my information.  They refused to admit it but "couldn't locate the original W9". Then to make matters worse they "never received" the form they sent me to fill out.  How odd -- I drove straight to the local post office and mailed it in one of their postage-free envelopes. How could they lose something like that?! I now have to worry about identity fraud.

In the past 35 years I've had dozens of accounts at many different banks & CU's and have never had a problem.  I am obsessively careful when filling out bank documents.

Needless to say, after all this I closed my account.