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Can Langley FCU Decide Amount That Is Deposited To CD?

yogooglethis
  |     |   32 posts since 2022

I had an existing savings account at Langley FCU with only $ 5.00 opened for two years.In Jan 2022 I opened the 14 month promo CD with 1.25 rate , 10k minimum and six month EWP.There was no deposit amount field on online CD application .I wasn't sure how much I was going invest but I wired in 125k in to savings three days later to make the promo deadline.Langley automatically deposited all the 125k in savings account to 14 month CD.I was upset and tried to call and spoke with someone who said they will have a specialist call me back and they never did.I let it go because 1.25 was the best thing going then but now with rates moving up it is starting to bother me again.I tried to call again last week and was told again someone would call me back which they didn't.Do I have any recourse here to get them to change the deposit amount or is that standard procedure when you open a new CD in this scenario?

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yogooglethis
  |     |   32 posts since 2022
Update.I think maybe Langley is reading these forum because I get a call today and they ask how much I was intending to deposit.I said 50k so they put the other 75k plus all interest in savings.Thanks for replies.
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Choice
  |     |   937 posts since 2020
Kudos to you and thanks for report!
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Choice
  |     |   937 posts since 2020
CU arguments….Buyer’s remorse? Didn’t you ratify their actions by doing what you have done? Read the governing documents and see what the process is and timeframe for required/specified action!
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yogooglethis
  |     |   32 posts since 2022
That's what I don't understand and getting information out of them is near impossible - the lack of communication is what upsets me more.I will never have more available in a savings account then what I intend to invest in a new CD to prevent this from happening again.
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Ratesaver
  |     |   187 posts since 2013
I am not a expert but reading your problem above I would try to make a deal with them as to cashing out of this cd with a small loss and maybe they have something better coming up or take the loss and get your full amt. back and run from this credit union , Good luck
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