Consumer complaint received 2015-07-14
Company: NAVY FEDERAL CREDIT UNION
State: DC
Product: Bank account or service
Sub-product: Savings account
Issue: Account opening, closing, or management

Complaint:
On XXXX XXXX, 2015 I received a letter addressed to me stating that my Navy Federal Credit Union ( NFCU ) account was restricted due to transaction activity conducted on my personal account and that the activity conducted does not fall in line with NFCU 's underlying acceptance of risk. The letter instructed me to proceed to the nearest branch to withdraw all funds and close the accounts. 
I in turn went to a local NFCU branch in XXXX, VA on Thursday, XXXX XXXX to withdrawl all funds and close my accounts. However, upon arriving and speaking with a representative, I was told that my account was locked and even she could not withdraw the funds due to my account being under investigation. The branch had me speak to a security specialist, whom directed me to call her back the following Friday, XXXX XXXX to check the status of my account. 
I in turn called the security specialist on Friday, XXXX XXXX. She told me that there was a letter in the mail to me and to await the receipt of the letter. 
On Monday, XXXX XXXX, I received a XXXX letter from NFCU dated XXXX XXXX, 2015. This letter stated that after NFCU reviewed their records, it has been determined that the activity conducted on my personal account does not fall within their underlying acceptance of risk and for that reason, my personal account will remain restricted from use indefinitely and that I am to visit my nearest branch to withdraw all funds and close the accounts. 
On Monday, XXXX XXXX, I again visited a local branch in XXXX, XXXX After waiting for over an hour with my wife and newborn child, I was again told by the branch representative that the account was still locked and she was unable to withdraw the funds and close my account until the account was unlocked. She in turn called the security specialist whom was unaware of the signed letter sent to me dated XXXX XXXX, instructing me to visit the branch and withdraw my funds and close out my account. The security specialist then told the branch representative to fax her a copy of XXXX the letters I received, in addition to a letter written by me requesting to withdraw all funds and to close my account. The latter was not a requirement of either letters I received, but I sat there and did as I was requested and hand wrote the letter, signing and dating it. 
All in all, I have no issue with NFCU wishing to close my account, but I do take issue with the fact that they have sent me not XXXX, but XXXX signed letters from their Senior Vice President of Security Department, instructing me to visit my local branch to withdraw all of my funds and to close my account. I have wasted too much time with this matter and have done what has been asked of me. They are withholding funds that are legally mine which they 've instructed to permit me to withdraw. 
I do not know what to do, but this institution clearly does not know what it is doing.

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