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Lone Star Credit Union New Cds-Wells Fargo Wire/ACH Teeth Pulling

chill08
  |     |   96 posts since 2022

I completed opening two 60 month CD's at Lone Star Credit Union this morning. It took 4 days and 6 phone calls to get funds from WF to Lone Star. I set up ACH transfers, did the first one 11/21. It sat too long, I thought, making the 11/26 deadline to open ahead of Thanksgiving Break a concern. I sent a wire instead of sending my 2nd ACH on Friday, 11/22. The wire was held up for review and after two hours, my online banking access was blocked by WF. After calling, I was able to wind my way through the Fraud Dept and get the wire OK'd and online access back. In the meantime WF reversed my ACH without my knowledge, therefore I had to send another wire yesterday. I called Fraud as a precaution to OK the 2nd wire, it was again help up to further review. I had to call again, twice, to finally get cleared last night at midnight. WF said they are having so much online fraud. In the future I think I will bite the bullet and go in person to my bank and send one wire, even though it costs more.

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Answers
nutkin
  |     |   60 posts since 2019
Lone Star has good 3/5 CD rates; too bad their membership is limited. Glad you got through the WF mess.
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chill08
  |     |   96 posts since 2022
Thank you, I am too. WF was really not budging, blocking my online access was actually frightening. I thought possibly someone was trying to gain access to account, instead WF was trying to save me from myself. Lone Star does have a good rate, probably because of their small membership area. I barely made the membership qualification. My son-in-law teaches high school 8.5 miles from the Dallas Branch. A light bulb went off in my head a couple of months ago and I was able to open an account.
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txFish1
  |     |   476 posts since 2023
chill08. I joined Lone Star CU quite a few years ago as my office was just barely within the 10 miles from the Dallas branch. They usually have some decent rates on CD's and I have had very good customer service from them.
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chill08
  |     |   96 posts since 2022
txFish1 it's good to hear they have a history of decent rates. I've concentrated on 60 month CDs for the past 2 years, 4.55% is very good considering the current rate decent. I remember a few years ago saying if a CD rate hits 3%, I'm jumping on it. I did, and then proceeded to redeem it with a penalty for a much higher rate. I have a CD maturing in Feb, will see how rates look then. Lucky for us with the 10 mile radius rule for work including relatives.
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