Sunbelt Federal Credit Union is headquartered in Hattiesburg and is the 6th largest credit union in the state of Mississippi. It is also the 1,052nd largest credit union in the nation. It was established in 1953 and as of December of 2023, it had grown to 97 employees and 38,120 members at 8 locations. Sunbelt Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Sunbelt Federal Credit Union is open to those who live, work, worship, attend school, or volunteer in the Mississippi counties of Jones, Pike, Simpson, or Wayne, and certain parts of Covington, Forest, or Lamar Counties. Membership is also open to employees and members of Pike County, Hattiesburg Public School District, and over 150 Select Employer Groups.
See current membership details
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This Review Is For The Waynesboro Branch.
Mrs. Kim Purvis, Mrs. D.Hundley and Ms. Jerri are great people to work with. They are prompt, courteous, polite and respectful. Ready at all times to serve with a spirit of excellence. My wife and I love their professionalism. And this is our bank and we not doing business no where else. Not even another branch. They take good care of us. And we appreciate them so much.
Unlawful Repossession And Mistreatment Of Members
My name in Maxine Bennamon and I’m a recent member of Sunbelt Federal Credit Union (SFCU) since 2017, and although I’ve had other issue with SFCU, I’ve never experienced anything to this degree. I am writing to file a complaint against SFCU member's services and certain member service representatives in mishandling my bank deposits, refusal of taking a deposit, refusal of applying loan payments to loan and unlawful repossession of 2017 BMW X5 SDrive 35I, on January 28th, 2024. From October-December 2023, I was under a cardiologist at University of Alabama for surgery and hospitalization. During the last part of December, my automobile insurance lapsed because I couldn’t work at that time. During that time, with holidays in place, I was not able to secure a job until after Christmas. I did not receive full pay until the middle of January and contacted Sunbelt. On January 18th, Sunbelt FCU sent me an email stating that they have not received my December payment and no insurance was on the vehicle. The statement also said that I have until January 24th to make a $608.00 payment on the BMW and January 25th to secure insurance. I immediately contacted the members services department and spoke with April. I made her aware I was wanting to make the $608.00 BMW loan payment and she refused to take my payment and she said that I would have to secure insurance first before taking a payment and slammed the phone in my face.
The notice for payment was on January 24th not the 25th and April prevented me from making my payment. On January 20th, 2024, another member service representative called for the BMW loan payment of $608.00. I told this representative that I previously tried to make the payment and April refused my payment, stating that would have to secure my insurance before I can make the payment. The representative stated that was incorrect information and after I make the payment, she will provide me with someone to assist me on Monday January 22nd, which was Lisa of member services. The representative also said at anytime a vehicle does not have insurance, the credit will provide insurance at a greater cost, but they shouldn’t try to repo it because of insurance. The representative took my BMW loan payment and sent a receipt at that time.
On Monday, January 22nd, 2024, I did call Lisa of member services at Sunbelt, and she stated the same as April and when I told her another representative took my BMW payment on Saturday (January 20th), Lisa removed my payment and placed it in a dummy saving account. Lisa stated that I will have to secure insurance before payment will be applied and I asked her again why after Sunbelt had given me a deadline? Lisa stated that she didn’t have to talk to me and slammed down the phone in my face. Later that evening, I indeed contact my insurance Progressive and restated my insurance on January 22nd,2024. At the time, all deadlines had been met, but my cosigner and member branch members were still saying I was two months behind on my BMW and my other car loan which was a 2017 Chevy Cruze.
Of course, this was incorrect because I currently own January one both but couldn’t make payments because of Sunbelt. From January 22-26th this was the case until I called them on Friday, January 26th to verify that they had indeed received all documentation. Once verifying, A member service representative named Stacey said I was 34 days behind on my BMW and its up for repossession. I told her that cannot be true because I have restored insurance and made a payment. She stated, as of day, January 26th, 2024, there was no insurance on the vehicle and I told Stacey insurance was reinstated on the 22nd, of January. So, I had to resubmit the disclosure letter proving reinstatement and member services had an issue with the address for Sunbelt Credit Union. I had to contact progressive a third time asking them to update SFCU address and the agent did. This was the same disclosure I’ve had on file for over an year, but now it’s a issue. After resending the undated email several times, Stacey received it and stated everything would be lifted.
On January 28th, 2024, my 2017 BMW X5 SDrive 35I, was repossessed because of nonpayment and not insurance. According to police it was taken between 9-9:30 pm. I met the deadline and Sunbelt FCU still took my vehicle. When I reached out to them, they sent me an outrageous amount which I was supposed to pay before recovering it.
The cost was $3, 454.45 which included the following:
$137.00 S1 (was incorrect and this was deducted)
$443.53 S75 (They closed my checking account and charged it to repo)
$1,216.00 L200 BMW (December and January payment, which I have already paid December, it’s in a dummy saving account)
$854.00 L201 Chevy Cruse (December and January payment, which I have already paid December on Dec. 13th, 2023).
$500.00 Repo Fee
$100.00 close Fee (unaware what this charge is)
$203.92 CM S1 (unaware what this charge is and it was later deleted).
New charges as of January 31st, 2024
S75 $443.53
L200 1216.00 BMW
L201 $427.00 Cruze
Repo Fee: $500.00
Stop repo fee $100.00.
Total: 2686.53- (BMW December payment $608.00) = $2078.53
$2078.53 is the amount I had to pay before February 12, 2024, to avoid repo because they forgot to call and cancel repossession. I am on disability with major heart issues and do not have this type of funds. Sunbelt has caused mental and physical anguish and I’ve lost time from work dealing with this matter. I had met their demands, and they still took advantage of and railroad me as a member. They are also refusing to accept payments for my 2017 Chevy Cruze and trying to be repossessed as well. Sunbelt has contacted the credit bureaus and placed falsified late payments on my account causing it to drop over 65 points. Before this incident, all my loans were paid on time and good standing. I am asking for justice and for vehicles and credit to be restored for what they have done. I have proof of everything I have mentioned in this complaint. I would advise no one to do business with them.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 8905 |
| Year Chartered | 1953 |
| Employees | 97 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.36% |
| Return on Equity - YTD | 8.08% |
| Annual Interest Income | $14.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $277.8MM$273.5MM |
| Loans | Q4 2023vs Q4 2022 | $161.2MM$142.2MM |
| Deposits | Q4 2023vs Q4 2022 | $213.8MM$219.8MM |
| Equity Capital | Q4 2023vs Q4 2022 | $46.6MM$44.3MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $4.3MM$2MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $1MM$1.4MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $80K$0 |