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Saturday, April 28, 2012 - 12:45 AM

Tyndall Stole My Money

Tyndall Federal Credit Union (1 stars)
I took out a car loan with Tyndall FCU, and they required a draw against my checking for the monthly payments. I paid off the loan within 2-3 months and asked for my account to be closed. Instead of closing my account, they drew another $90 from my checking, but assured me the overpayment would be refunded. I waited for the refund and then forgot about it. In the meantime, Tyndall transferred the money to a "savings" account, and began drawing a $5 fee against my money because less than $100 was in the account. When I remembered the overpayment, Tyndall had eaten $25 of my money and refused to refund their "fees" for my overpayment. I went up the chain of command, all the way to the president, but they refused to refund my money. I have asked an attorney to file a claim in small claims court for the $25.  He said that if anyone else has a similar complaint, I can file a class-action lawsuit. Please respond if you have had fees taken from your account after overpaying a loan. They had no right to transfer my money into another account and begin drawing "fees" to steal it.
3
bamajuliettebamajuliette1 posts since
Apr 28, 2012
Rep Points: 3
1. Saturday, April 28, 2012 - 1:11 PM
You forgot about a $90 overpayment for about 5 months, closed the checking account, and incurred a total of $25 in fees (at $5 /mo because the balance was under $100) when the CU put the overpayment in a savings account.  However, you are willing to pay for an attorney to file a claim in small claims court for the $25 (which by the way you can easily do yourself for free) and said attorney is encouraging you to file a class-action lawsuit (which will only enrich the attorney).

It would have been nice of the credit union to refund the fees but it certainly has no obligation to do so.  I don't mean to be unsympathetic but I would take my $90-$25 = $65, close the savings account and consider the $25 in fees a cheap life lesson to remind me to keep better track of my money.  
6
pearlbrownpearlbrown1,027 posts since
Nov 2, 2010
Rep Points: 3,949
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