ComplaintsforCedar Point Federal Credit Union
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Complaint Details
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Initial Complaint
08/16/2022
- Complaint Type:
- Order Issues
- Status:
- Answered
On June 22, 2022 I called my bank to apply for a personal loan and was asked by the representatives if I wanted to use my vehicle as collateral for the loan, after questioning by the representative she Sandy C******* found out my car was paid for and advised me to use it for collateral to secure the loan. I was also informed of a 'gap insurance' on the car costing $2510.00, so I agreed to it I decided that I want my car title free and clear again, so I secured a loan with my work credit union. I called Cedar Point to see what the payoff for the loan is and I was told they could subtract the cost of the gap insurance of $299 I informed the rep Tonya W***** that the amount was over $1000 and I was led to believe this was the amount of the Gap insurance and I would like a refund of the $2510 from the balance of the original loan of $21,510.00 since I was led to believe it was something different, the manager Tonya W***** stated "Sandy is my best underwriter" Ms. W***** said she would contact the ******* ****** company but changed her mind as she claimed I yelled at her on the phone. I am willing to pay off the loan $19,000.00 minus the added expenses of $2510.00 for the GAP that I was talked into purchasing. and close out my account after this business with them.Business response
09/02/2022
---------- Forwarded message ---------
From: ************************** <******@cpfcu.com>
Date: Fri, Sep 2, 2022 at 10:36 AM
Subject: Complaint ID ********; ********************
To: drteam@mybbb.org <drteam@mybbb.org>
Cc: ************************** <*******************>, ********************** <****************>Good morning,
As requested by the member, Cedar Point FCU refunded 100% of the member costs associated with the Mechanical Repair Coverage (MRC)and Guaranteed Asset Protection (GAP) and credited those costs to the loan balance on August 18, 2022. The remaining balance was paid in full by the member on August 19, 2022. No additional monies are due to the member.
Respectfully,
Charles R******
President/CEO
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.