Wellby is headquartered in Houston and is the 12th largest credit union in the state of Texas. It is also the 174th largest credit union in the nation. It was established in 1961 and as of June of 2024, it had grown to 452 employees and 128,733 members at 22 locations. Wellby has an A health rating.
Great FCU
Wellby-JSU-FCU is an exceptional Credit Union that operates with a lot of integrity, especially their Seabrook Branch Management Mr. Tim Bradbury and Ms. Heather Crenshaw and their entire staff who truly seem to care about the Customer and delivering true Customer Service by helping me the customer make the best banking / financial choices for my business and myself. Loans are a very easy, including starting the processes via a phone, including the signing of all loan docs through email after approval. In summary, the entire Seabrook Branch and the Main branch has a can-do attitude, and I highly recommend the Wellby-JSU-FCU, especially the Seabrook Branch who deserve Kudos
The 5.39% Rate Now Applies Only To The 13 Month CD
I checked the CD rates, and the 48 month bump up rate is less than 5% now.
ACH Limitations
I was going to open a 4 year CD for $150,000 but they have a ACH limit of $100,000. So I will have to take my money elsewhere !! The new bank I am depositing with has an ACH limit of $250,000
OH Well !!
Nothing But Crickets
I applied to open a deposit account with Wellby. Nothing but the sound of Crickets. No word at all, no wonder the ratings for them are bad. It was a big waste of time completing the application and uploading all of the documents requested.
The Worst Leadership After Move
My credit is now fu*** due to Wellby JSC change. We had automatic payments set up and working for our mortgage payment. When JSC change to Wellby they changed the amount of numbers and what numbers needed to be used for the transactions. We recieved no notifications nothing with the changes. When we tried to manually make payment with our mortgage company there was still an issue with Wellby's system. There was plenty of money and the way it worked with JSC did not work after they changed to Wellby. This led to a late payment on our credit report. We tried to work with Wellby and our morgage company to get this straitened out but Wellby just said they would look into it and would never get back with us. We went into the branch to talk with a banker about the issue and they also said they would submit a request to get this looked at and nothing was ever done. Also had issues with two separate credit card payments. We then went into the bank and spoke to the manager. She told me she would do her best to get the NSF fee's removed, agreed there were many mishaps with the transition, admitted hey lost a ton of customers even before the move and would work on getting a letter written up so that we could get the credit reporting agencies to correct the OBVIOUS error on there part. But of course the district manager instead called me on the phone to instead try and run a circle jerk instead of just taking care of the issue. She said she needed to get with IT to confirm information, which of course there has been zero return calls, letters, nothing. Im betting she did'nt like the information they supplied which is why she hasn't called back, it's been over a week. This one late payment on my credit has let to higher intrest rates and denial of a student loan for my son. This is bullshit. We are in the process of moving all our money out of Wellby. We had been JSC customers since we moved to Houston in 2010. No issues with JSC until it changed to Wellby. My next move will be to first obtain a complete audit of my account with account numbers and electronic debit information, then file complaints with usa.gov, The Federal reserve, OCC.treas, NCUA, CFPB, mycreditunion.gov, cud.texas.gov. I suggest everyone else do the same.
New Rules Of Holding Funds
Been with JSC for years. Closed an account and opened a new one with my husband. Now we have Wellby cards and Account. We were told by the one that helped us open our account that when a check would be deposited they would only hold a portion of the check. Well it will be 7 days tomorrow that they have not released any funds at a all. I called today and was told that we were wrongly informed and that they will hold the check for 9 business days due to it being a new account. So with weekends included that makes 14 days. I had never had this issue with JSC before. Wellby if financially messing with my families wellbeing. As soon as I am allowed to touch my funds that they a keeping from me I will be getting a new account with a bank that I can pray I trust won't keep my family from financial danger. We have bills to pay. Kids to feed. God forbid they cover the late fees of the bills that are due because they won't release our hard earned money.
Wellby Sucks Beyond Belief
Wish I could leave -0- stars. JSC had their issues that I tolerated, but their merger with Wellby has been a major disaster. Some adjustments are expected by this is a nightmare of all nightmares. Messages are rarely answered and if so it is months behind, told to call if urgent but they don't ever pick up the phone (infinite hold), and now we learned they disconnected our mortgage auto-draft 4 months ago, as they went with a 3rd party for payment. took all day to fix that and get paid up, accruing late fees and I'm sure affecting our credit. Can't register with the 3rd party because our account number was changed and only a partial number is available to us. Welby said DMI handles the payments (and aut0-draft) then DMI says no Welby does, so had to go into the bank as you know even when just JSC was always an all day adventure. They also removed some accounts from our site putting them another account, thererfore another site to register and keep track of. What a nightmare! They should be crediting us for this whole debockle, but do you think that will happen. HA. I have spend around 4 hours at least on this so they owe me the loss of wages to the tune of $75 per hour, which seems quite fair. Staffing enough people would be nice or at least staffing with people that didn't lose out in the zombie apocalypse. Brains are important particularly in banking.
The Management Is Clueless
This credit union has twice made major changes to their software. Both rollouts were disasters resulting in angry customers. This time all payment history seems to have been lost, some of the features of the new software don't work (manage payments), and other features that used to exist are gone (totaling pending bills). I've communicated all of this to Wellby...and crickets. Not even something on their login page saying we are experiencing growing pains.
From what I've experienced, their is NO customer service, the fees are unreasonable, other credit unions care more (Navy Federal Credit Union) and the mobile experience is glitchy.
Good luck if you decide to join this institution.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 14762 |
| Year Chartered | 1961 |
| Employees | 452 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.37% |
| Return on Equity - YTD | 3.55% |
| Annual Interest Income | $59.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.63B$2.55B |
| Loans | Q2 2024vs Q2 2023 | $1.9B$1.78B |
| Deposits | Q2 2024vs Q2 2023 | $2.32B$2.26B |
| Equity Capital | Q2 2024vs Q2 2023 | $274.6MM$260.4MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $17.3MM$10.4MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $13.4MM$10.8MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
