Saturday, January 29, 2011 - 3:29 PMApplication Denied After Costly Membership Requirement
RiverLand Credit Union 
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1 stars)
I applied for membership in the RiverLand Credit Union because it has the highest money market rates for IRAs and HSAs. It is possible to become a member by contributing to the Arts Council of New Orleans. I made a $10 contribution to the Arts Council and submitted my application to RiverLand. I received a response from RiverLand that they would have to have proof of my membership in the Arts Council. That turned out to cost $60. I became a member because the additional interest income would have exceeded that amount. Within days, I received a denial from RiverLand. Couldn't they have let me know in the first letter that they were not intending to approve my application rather than putting me through this costly charade?
27
Saver4 posts since
Oct 26, 2010
Rep Points: 78
1. Saturday, January 29, 2011 - 4:06 PMMembership eligibility is different from account opening/approval, the former does not guarantee the latter. Account opening usually involves ChexSystem verification and sometimes credit (hard) pull.
There should be a way to get a partial refund for the Arts Council memebership, maybe prorated. Good luck.
6
51hh623 posts since
Jan 16, 2010
Rep Points: 3,066
2. Monday, January 31, 2011 - 12:10 PMI called the Arts Council of New Orleans to see if they would refund at least a portion of my $60 membership since my application to Riverland had been denied. They said that they could not. They regard my membership as a separate decision from my application to Riverland. I also wrote to Riverland telling them that they had had sufficient information available to determine whether they were going to accept my membership before sending me a letter requiring me to prove my membership in the Arts Council. So beware of applying to Riverland. They may simply be trying to raise funds for the Arts Council with no intention of approving applications to their organization.
5
Saver4 posts since
Oct 26, 2010
Rep Points: 78
3. Monday, January 31, 2011 - 12:34 PM1. If you used credit card for your membership to Arts Council, dispute it as "no service rendered as expected", especially since the arts council publicizes the benefits of having Riverland accounts on their website.
2. What was the reaosn of rejection for your Riverland account? Fight through this end by bringing it to higher management (e.g., president of the credit union). Explain nicely that you like their accounts so much that you have paid $60 to join the credit union. There is obvious evidence of mis-representation on their part. So fight it but fight nicely.
Good luck!
5
51hh623 posts since
Jan 16, 2010
Rep Points: 3,066
4. Thursday, February 3, 2011 - 7:35 AMBased on the tone of the communications that I have received from Riverland, the high cost of membership in the Arts Council, the fact that my application was denied despite an excellent credit rating, and Riverland's non response to my inquiry why my application had been denied, I would not recommend that anyone apply to this credit union.
6
Saver4 posts since
Oct 26, 2010
Rep Points: 78
5. Thursday, February 3, 2011 - 10:04 AMI asked a CSR at Riverland if it was possible to get an approval for membership before paying the fee ($60) to the Arts Council. "No, I am sorry, the only way you can apply for CU membership is if you are within the field of membership'. The Arts Council is one of the groups that qualifies to allow people to join." I thought that would be the end of the conversation (online chat), but then was surprised to be asked, "Why would you want to join us if you are in California? Our rates are not exceptional and they are subject to change weekly."
Definitely the first time a CSR ever provided a negative sales pitch for their own Credit Union.
7
Alan32 posts since
Jun 7, 2010
Rep Points: 156
6. Thursday, February 3, 2011 - 10:25 PMI also was asked why I would be interested in membership since I was out of state. Although I did not get the negative sales pitch, I am not surprised. This credit union seems to be doing its upmost to turn away potential customers.
4
Saver4 posts since
Oct 26, 2010
Rep Points: 78
