Consumer complaint received 2025-03-17 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: FourLeaf Federal Credit Union
State: FL

Complaint narrative:
I am filing a complaint against Fourleaf Federal Credit Union ( formerly Bethpage Federal Credit Union ) regarding their refusal to release my insurance settlement funds for necessary repairs following Hurricane Ian. Despite providing all available documentation, they continue to delay processing my check, preventing me from making critical repairs before the upcoming storm season. 

I originally received an insurance offer of {$10000.00} on XX/XX/XXXX, with a net payment of {$2900.00} after my hurricane deductible. Due to the damages sustained including roof, windows, garage door, pool cage enclosures, and interior XXXX hired a lawyer to negotiate a fair settlement. In XX/XX/XXXX, my lawyer settled my claim for {$150000.00}. After attorney fees, I received {$110000.00} to complete my repairs. This settlement was a lump-sum agreement between all parties and did not come with a revised adjusters estimateonly the settlement agreement itself. 

On XX/XX/XXXX, I overnighted the signed check, along with signed estimates from my roofer, garage door contractor, and window contractor, to Fourleaf Federal Credit Union. I also uploaded my signed Intent to Repair form. Shortly after, XXXX XXXX from Fourleaf requested an adjusters estimate or paid receipts, which I do not have since the settlement was agreed upon without a new estimate. I immediately informed her that I do not have the funds to pay contractors upfront and need the check deposited before storm season so I can proceed with repairs. I even started financing my windows out of pocket to get things moving, despite the fact that these costs should be covered by my insurance settlement. I shared this with XXXX, yet my concerns were still ignored, and I did not receive a response or call back. 

The following day, I called Fourleaf but was not given direct contact information for XXXX. Instead, I was repeatedly asked for the same documents I had already provided. To comply, I sent the original adjusters estimate ( which does not reflect the {$110000.00} settlement ), the original settlement letter from my insurance company, and the signed insurance release showing the {$150000.00} settlement. Despite this, I still received no response from XXXX or anyone at Fourleaf. I called again the next day and was promised a callback or email, as XXXX was " busy. '' That never happened. More than a week later, I still have not received any response. 

I have done everything required on my end. My mortgage payments are current, and I have never been late. My home was only a year old when XXXX XXXX struck in XXXX, and these repairs are critical to restoring my property. 

At this point, I need to know : Can Fourleaf legally hold my insurance funds indefinitely? What recourse do I have to force them to release the check so I can begin repairs?

I am requesting immediate assistance in resolving this issue. I simply want to repair my home before another storm hits. Please advise on the next steps.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation