Consumer complaint received 2022-09-10
Company: ALLIANT CREDIT UNION
State: VA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I joined Alliant Credit Union in response to promotional advertising of a partnership between XXXX XXXX and the credit union. The promotion states after 12 months of consecutive {$100.00} deposits in a savings account, the member will receive a one-time deposit of {$100.00}. Enticing indeed, don't you think. I requested membership and began my direct deposits of {$50.00} bi-monthly ( per pay period ). As I approached the year, I became excited and started reviewing my account. When I noticed the deposit wasn't made, I contacted the credit union in May. That first customer service representative ( female ) stated the deposit would occur the following month, which would be the XXXX month of the consecutive deposits. When that did not occur, I again contacted Alliant and spoke to a male representative. At that time, he stated I was not entitled to the promotion deposit of {$100.00} because my deposits were prorated, I mentioned the website required a $ 100 monthly deposit without caveating the total amount was to be deposited in a lump sum of {$100.00}. I mentioned I met the criteria, sometimes exceeding the {$100.00} due to the timing of my pay periods. He mentioned he would elevate the inquiry to a supervisor, but I didn't hear back. In XXXX I again contacted Alliant via their messaging/inquiry system, and received yet another explanation for the follow-through. This time, I was informed of the requirement of the deposit commencing within 30 days of membership. I looked online at all of the promotional information regarding the 'savings challenge ' and didn't see that caveat. I looked on XXXX 's website as well as the credit union 's marketing regarding the offer. It took a second email and or follow up, for the clarification and 3rd denial of the promotional offer. The information regarding the 30-day time limit is not transparent on either website. It is not clear in the promotion by XXXX XXXX. It is not even in the FAQs. The 30-day limitation is stated in a footnote. Yes, a footnote. There is such a lack of transparence along with a tinge of deception, false hope and fraud. I responded to Alliant and stated I would bring this offer and process to the CFPB 's attention. I also recommended the 30-day be uncovered and stated as one of the FAQs. I will not benefit from this action, but I wish others to be forewarned of the stipulation. Saving in any matter is a good thing ; and more so with an incentive. However, a potential customer should be provided all the pertinent information to inform that decision. The credit union should have held itself to a higher standard. This practice is deceptive in nature and I request the CFPB hold them accountable. Based on the three different responses from three different customer representatives, I question the training and staff 's knowledge of the credit union products. In addition, I would also question when the caveat and/or time constraint were actually posted for the public. In other words, I question whether due to the volume of accounts resulting from the promotion, if the credit union decided to limit the incentive. Yes, I question the credit union 's integrity and business practices. I've attempted to provide the .url for the promotion I've referred to : https : //ww2.alliantcreditunion.org/ultimate-opportunity-savings

Company response to consumer: Closed with monetary relief