Whenever you call a CU or Bank and request something "major" (ie, opening a CD) or ask about their policy on something that isn't clearly spelled out somewhere, keep a record of: the date, time, and agent you spoke to.
It's really not a lot of work. You don't have to do it for all calls, just ones where you want to know the bank's policy on something that's not clearly spelled out anywhere, or when doing something major or important. Personally, I keep a separate envelope for each CU/Bank I deal with, and have a piece of paper in each for scribbling down the date/time/agent of such calls, and what was said. It can really save you later if the CU/Bank doesn't screws up or doesn't want to do what they told you. If you have the time/date/agent, they can easily pull the recording. Without it they will often just say "sorry but that's not our policy" or refuse to make it the way you asked for without the proof.
I also often call twice to ask another agent.
Four examples with me:
Example #1:
I made the mistake once of being lazy and not double-checking and I paid for it. At a large regional CU I was told one could add to their IRA CDs each year for the length of the CD as long as it was each year's new contribution, not rollovers from elsewhere. So I opened a small 5yr CD with them to get a foot in the door in case rates go down. But when I wanted to add to it, I found out the agent told me wrong, one can only add the OPENING year's contribution after opening, not any following years contributions, even though I specifically asked that. Because I have the name of the person I spoke to, a supervisor offered to allow it since I was told wrong, but in the end I decided to go elsewhere.
Example #2:
At that same CU (above) I then decided to do an experiment. The CU was running a CD special so I called to ask what the EWP for the special was. In the CD Disclosure it clearly states it's 180 days, but the first CSR I spoke to said 90 days. I hung up and called back, reaching a 2nd CSR. She also told me 90 days. When I informed her that the CD DIsclosure said 180 she put me on hold, then came back and said "oh you're right, thanks for letting me know." If I had actually opened the CD with them I would've kept the date/time/agents I spoke to for them to pull the recordings later if I ever needed the funds early.
Example #3:
At another CU I wanted to open a 5yr CD with a great rate. But the place opened a 4yr CD instead, and when I noticed it a month later and said I had requested a 5yr, they said if I wanted a 5yr I'd have to first break the 4yr and pay the penalty on it, before opening a 5yr. Thankfully I had the date, time, and agent of my call for them to pull the recording. They did so, and when I spoke to them the next day, they apologized and changed the 4yr to a 5yr with no penalty.
Example #4:
At yet another CU: I opened up multiple CDs with them on the same day (different term lengths). I specifically and clearly stated that I wanted the interest to compound and stay in the CD during the term length, but upon maturity, the matured funds should spill to my savings account. But the agent opened all the CDs so that the interest spilled into the savings each month instead of compounding. I didn't even notice it until a couple months later. I called, and they didn't want to do anything unless I could provide them with who I spoke to and when. Thankfully, I had that all written down: the exact date/time/agent. They said they will pull the recording and call me back. The next day they called me back, said they pulled the recording and indeed the CDs had not been opened the way I asked for, so they changed everything to the way it should've been (having to re-figure the compounded interest for each one, I made sure it was correct).
I'm sure many of you could provide your own examples.
Always keep a record of: the date, time, and agent you spoke to when doing anything major or asking about policy that isn't clearly spelled out anywhere.
