Consumer complaint received 2019-03-07
Company: NAVY FEDERAL CREDIT UNION
State: NC
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have am a member of Navy Federal Credit Union ( NFCU ) for almost 3 years, and am very disappointed on the unconscionable treatment, abuse, bullying tactics, and misleading and coerced banking practices I have experienced by NFCU Malfeasance regarding auto loan refinanced process. On XX/XX/XXXX I received a refinance auto loan from NFCU. The payoff with XXXX XXXX XXXX ( XXXX ) was not successful. NFCU loan Specialist contacted XXXX to get payoff amount. XXXX threatened that the payoff check would not be enough if it did not include per diem and fees including mailing time. The NFCU/Bank Manager at the XXXX XXXX, XXXX, NC assisted the Loan Specialist and deposited the refinance check {$7100.00} into my savings account and directed me to withdraw a cashier check {$7200.00} dated XX/XX/XXXX for payoff to XXXX. I did as I was instructed by NFCU /Bank Manager . On Thursday XX/XX/XXXX I contacted XXXX and NFCU on the same call. XXXX Supervisor/XXXX stated that XXXX never received a payoff cashier check and must have got lost in the mail we don't have it and NFCU Supervisor Resolution/XXXX stated she will look into it. XXXX stated will if we are to blame the extra fees and charges will be waived, I have to go and hung up. XXXX stated she could not locate it and I will have to go to my branch and get a replacement cashier payoff check for XXXX. On XX/XX/XXXX I go to NFCU and was stopped by NFCU/Loan Specialist putting me under extreme pressure and under duress to sign a declaration of loss or my auto refinanced loan would be denied stated after you sign the funds for XXXX payoff funds will sent directly to your savings account. If you don't sign the declaration of loss the funds will not, besides the initial cashier check {$7200.00} dated XX/XX/XXXX has a stop payment and cancel and can not be cashed you do not have anything to worry about just sign the bank is closing and had me come back tomorrow. On XX/XX/XXXX I returned to the NFCU following XXXX and Loan Specialist I withdrew the cashier check {$7200.00} from my savings account payable to XXXX XXXX XXXX and mailed it. On XX/XX/XXXX I contacted XXXX and confirmed by XXXX Supervisor/XXXX XXXX that XXXX was in possession of ( 2 ) cashier checks and already cashed the replacement cashier check {$7200.00} dated XX/XX/XXXX and XXXX found and located the initial cashier check {$7200.00} having XXXX in possession of both. However, your account has accumulated more fees and replacement cashier check don't cover enough for XXXX payment is due so without this your account is paid in full. So you need to a letter from NFCU with their letter head giving us ( XXXX ) authorization to cash the initial check we found. On XX/XX/XXXX I contacted NFCU/XXXX and expressed what XXXX/XXXX stated. NFCU/XXXX  confirms NFCU is aware that XXXX received and cashed both cashier checks {$7200.00} on XX/XX/XXXX and Force-Paid cashed {$7200.00} on XX/XX/XXXX making total of {$14000.00}. Again I contacted XXXX/XXXX XXXX and NFCU /XXXX all on conference call after XXXX confirming and agreeing to mail reimbursement check to NFCU P.O. Box. It appeared everything was good. On XX/XX/XXXX NFCU has deliberately turn my accounts upside down. By putting a negative $ XXXX against my savings draining over {$2100.00} into a bogus over draft/frozen account. I contacted NFCU and was humiliated, and told I'm sorry but until NFCU gets their money back my accounts are going to stay upside down. I was emotionally distraught and asked can I talk to somebody to fix this financial tragedy. For months I been sending emails and phone calls all the way up NFCU corporate office to no prevail. NFCU needs to be held accountable and investigated they was fully aware that XXXX was in possession of both cashier checks. And still persecuted me and freezed/overdraft my accounts this is financial bullying and abuse of power, such brute tactics need not to go unchecked and stop. ( See Attachment Documents that Support complaint ) .On XX/XX/XXXX I contacted NFCU checking my accounts are fixed I spoke to NFCU/XXXX whom confirmed that NFCU on XX/XX/XXXX received the reimbursement check from XXXX {$7200.00} and sent it back. I was not given any written notice or my savings and checking account unfrozen or released from hostage. NFCU refuses to correct this matter even after getting their money back continue to cause turmoil against me/consumer and member. To this date XX/XX/XXXX I still do not have access to my personal funds over {$2100.00}. And NFCU continue to patronize, humiliate, ignore stone wall all my reasonable requests of getting access. These unconscionable actions needs to be investigated and Navy Federal Credit Union and its Executive staff that supports such actions need to be investigated.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation