My membership request to deposit money with Premier America was rejected due to "Chexsystems reports." My deficiencies? 1) NO EVIDENCE OF ASSET OWNERSHIP--despite $5 million provable assets. 2) NON-DEROGATORY PUBLIC RECORD HISTORY--Yup, nothing derogatory. 3) PROPERTY OWNERSHIP HISTORY--A paid off $700k house, owned 12 years; no repos, short sales, etc. 4) "INSUFFICIENT DDA INQUIRY ACTIVITY SAME FI"--Customer service couldn't define it in English.
Requests for reconsideration were denied, but I was invited to go to a branch to appeal. However, the branch manager said a Chexsystems decision could not be overturned.
I took a chance on Premier America even though most of the posted reviews were old and not kind. I hoped their process had improved even tho they had changed their CD rate 3 times in one month. Not so. I applied online on 1/24/19 and put up with sporadic contact from them until 1/31/19. The very first thing they did was go into my Suncoast account and make the 2 small deposits. After they had done that they continued to send a request every now and then for more information instead of one major request listing all the information they would eventually need. I would comply immediately each time and not hear from them for a couple of days more when they would send yet another request for more info. A full week after I had applied came a request for me to send a copy of my valid Social Security card. That was the deal breaker for me. No way I felt comfortable doing that! I called in and spoke with a very rude and unprofessional female who seemed to know little or nothing about their process and tried her best to get rid of me. I immediately called Suncoast CU and had them put a stop payment for $29 to keep Premier America from accessing my account ever again. I then applied online at Live Oak 1/31/19 and my new cd account with them has been verifed and fully funded by this morning 2/4/19.
When I originally called about their 17 mo. 3.2% APY CD it was apparent that the representative I talked with could care less about my deposit. Nonetheless, I went through the process she described to open a saving account that would be used to fund a CD. By the time this terrible CU had processed my opening deposit, the CD offer had expired. But I only found out about that after an absurdly long conversation with another representative about how to find out if my account was even opened and to complete funding of the CD -- which, of course, I now can't do. Just nuts.
RUN DO NOT Walk ...Do NOT Stop and Collect $200 RUN !!. Okay here goes I Gave Them 1 Star Just Because They Answered Phone…Before opening up an account I called and verified that ACH Transfers would be allowed . I asked how much CSR said Unlimited. Went ahead and opened Savings account online , next day started ACH initiation process to Link the Credit Union to My Outside Savings Bank and also from a different Savings Bank Linking to Them. Upon verifying trial deposits I tried to move money in Either By Pushing Funds From the Outside Bank or Having CU Pull the Funds From My Outside Bank so that I could take advantage of their 3% CD... Problem was I was unable to transfer more than $20,000 a Month that's right a Month IN or OUT , Told Me They Would NOT Accept over 20,000 Coming In ?? WHAT !! Reached out to management said no way around this it was their vendor that they use for ACH's that set the limits… If I was a long-time customer There Vender Might Consider lifting or making limits higher ….Not quite believing what she just said I asked her to reach out to her manager which after 2 hours the reply came back the same. To Fund The 16 Month CD I could either Send Them a Check , PAY for a Wire Transfer, or have my Outside Bank Send Them a Check ???? as Life Goes On I find that You Just Can't Make this Stuff Up !!, Especially when you're going to open a 16 month CD...Needless to say I just pulled my initial deposit and they can have a nice day! , Oh and Buy The Way Read The Fine Print As They Have A Limit As To How Much Money You Can Open CD For……
This is the worst possible financial institution -- combining all the disadvantages of a small bank AND a big bank.
My husband and I have been customers of this credit union's Santa Monica branch for over 10 years, clearing hundreds of thousands of dollars through our accounts with them.
The problem with their Santa Monica branch --located in "Fort Knox" RAND on Main Street-- is that, unless you're a RAND employee, they just treat you like a second rate citizen. And forget about easy parking or ATMs.
Also, the Santa Monica branch is incapable of dealing with any matters other than simple check deposits, so they refer you to their "mum" HQs in Chatsworth, who treat you like they don't know who you are.
You don't get an account manager, and never talk to anyone specific. Rather, you're thrown into a robocall maelstrom where, whenever you try to resolve an issue, you're told "We don't know you" (after over 10 years of banking with them!)
Case in point: We used to have a Visa with NBC Universal FCU, another credit union that was acquired recently, and unfortunately, by Premier America. Premier totally botched the job, which generated countless issues and confusion for NBC customers. We have spent numerous hours trying to resolve those issues with them for the past 6 weeks --every time dealing with their autistic, incompetent and unhelpful Chatsworth HQs-- and we're still nowhere near a resolution.
And this is only the latest in a long serious of problems and frustrations, including their financial management arm LPL Financial costing us thousands of dollars by not processing buy/sell orders on time, outrageous fees on international transfers, etc.
Needless to say: After years of procrastination, I finally closed all my accounts with Premier, and moved them to another, more professional and customer-friendly institution. My husband is anxiously waiting for Premier to (hopefully!) resolve the final hurdles of this latest issue before he does the same.
Do not bank with Premier, ever. Even though their members are technically their shareholders, they don't care about you, and are totally unprofessional and incompetent -- and leave you to pick up the mess for them.
We've had such a horrific experience with them that we're contemplating filing complaints with the NCUA, as well as other state and federal authorities, which we'll probably end up doing.
Absolutely horrible customer service. They do not take responsibility for their actions. Was ashamed to see a culture of people who were quick to throw their co-workers under the bus. The opposite of what a credit 'union' should be.
Beware. I have been using Premier bill pay for many years. Recently a check that should have been for $525 was printed for $5525. The party it was written to made me aware immediately as they received it a day early I then immediately phoned my branch to handle the matter. I knew that using bill pay the funds are pulled when the check is issued so I wanted to stop pay or do whatever needed to be done to prevent being overdrawn, as I had a large payment come out the next day. I was told by teller at my Santa Monica branch, that since it was written to an individual and not a business the funds would not be pulled unless the actual check was "negotiated", deposited or cashed. I needed to do nothing further. I trusted the voice at my branch, as he also checked with his manager when I questioned that it did not sound right from my experience. I was assured. 9 days later I find out I am overdrawn since midnight of the day following my call.
It took 3 days of calls and approximately 5 hours of my time and frustration being sent to wrong numbers being promised call backs that never came, etc and the bottom line is....I will not get my money back for 3 to 5 days! No one will fix it. "This is our standard ploicy" regardless that I did everything to prevent this, was given false information by at least 2 employees at the branch. The manager of branch finally said he would honor any paper checks that came through.... great except this account is all debit and electronic use. I believe he in fact was the ultimate source of confirmation that the teller asked when I originally phoned. In the mean time the account is missing $5525 and there is not enough in it to handle affairs. I asked" if this was all the money I had and needed to pay my mortgage, and it meant loosing my home or disqualified me from a refinance or something many people are going through what would happen? "Our policy is it takes 3 to 5 days"....was all the answer I got.
This was not even my error to begin with, and insult to injury it could have been fixed even if I had to suffer the 3 to 5 days in a timely manner. I feel they are keeping my money illegally and could cause me undue irreparable damage. I am completely dissatisfied of the total lack of integrity to correct a mistake that was not mine. If Premier had mistakenly put and extra $5000 in my account and I withdrew it what would happen if I said it will take 3 to 5 days for me to give it back?
I am without trust or any sense of security in what had been a very long relationship.
Where is the integrity?
Feeling abused in LA
There are two reasons I open account at Premier Credit Union:
1. It has a branch and an ATM machine next to my office which is very convinient to me to get cash.
2. It offers Reference Bonus (currently $50) for both old and new members. This bonus is easily surpass the balance of your savings.
Their loans interests are not as low as other credit unions (PenFed, for example). But your mileage may varies.