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Complaint Details
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Initial Complaint
08/12/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I spoke with ****************************** from East Cambridge Savings Bank on June 20, 2024 to request a loan for my food truck business. She is the ** of commercial lending. In our initial conversation we spoke on the possibility of leveraging my Food truck for collateral to get a commercial loan and also other alternative options like getting a business credit card or being a guarantor if my credit was good enough. I experienced significant delays and inconsistent communication from the ** of Commercial Lending. After submitting my business plan as requested, I had to follow up repeatedly, often waiting weeks for a response. Eventually, I was told that the bank prefers to wait a year before providing funding, which contradicted earlier discussions that included alternative options such as a business credit card or acting as a guarantor. Despite having strong qualifications, including excellent credit, a stable salary, and ownership of real estate. I followed up with **** about the alternative options but have been ignored. I then called the bank to escalate the request, and was told to leave a voicemail for Senior ** *************************, but no one has contacted me. To further complicate matters, I later discovered that there is an official loan request form that I was never informed about, which likely contributed to the delays in processing my application. I now question if they even have any request on record for me because I was never even asked the amount of money I'm requesting for a loan. Though I escalated my concerns, I have not received any response. As a Black minority, I feel disregarded, especially considering the bank's stated commitment to diversity, equity, and inclusion (DEI).Customer response
08/23/2024
I have not heard from the business in response to my complaint.
Business response
08/26/2024
Attached please find East Cambridge Savings Bank's response to the complaint received by the BBB in the name of *************************.
Initial Complaint
01/14/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Been banking with East Cambridge saving for over 10 years they been charging me late fees and fee despite I had a written agreement with bank if I dont have funds my account wouldnt be charged ... but account is still being charged another example I get an deposit Friday in the same day I have a **** coming out this bank is literally charging late fees or fees 140 dollars is being taken on the same day my check is processed while I do have funds , just like for the past 6 years I wasnt able to do transfers that pretty much made it difficult .transferring especially when I was living away from the branch . I want to be refunded my ****** dollars worth of fees this banks been taking from me for the past 10 years and more , no one educated me or honored what was in place . Something needs to be done Im already low income and Im working to pay this bank fees and Im upset about it . Just like if the system worked I wouldnt be faced with this Im a single mom making 15 hour working two jobs to pay bank fees enough is enough . Ive been stated that theres system isnt right and its needs to be look into , I have showed them what Ive been experiencing so they can try to avoid the issue by trying to put blame on myself and no . No one sat with me to educate and for me to go in the branch and theres associate to telling me I need to fight this speakers measures and here I am , I want to be refund back all my over draft fees thats wasnt supposed to be charge in the first place . The past month alone they charged me 35 dollars over 20 timesBusiness response
01/19/2022
Dear ******************:
Thank you for reaching out to us. We take your concerns and comments very seriously. Every customer situation is different, therefor we would like the opportunity to speak or meet with you directly to review your account and see if we can come to a resolution.
I can be reached directly at ************
*******************************East Cambridge Savings Bank
Senior Vice President
Customer response
02/01/2022
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
Neestchajani Antoine
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