ComplaintsforINOVA Federal Credit Union

• Initial Complaint

  02/09/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I have been trying to get a letter of no interest on a vehicle that is still showing to have a lien through your credit union which has been satisfied a long time ago. Was told to contact Loss Mitigation team. They don't return phone calls and will never answer the phone. I have only been told that I can't get a lien release. I have never asked for a lien release. I need a letter of no interest on your letter head or I cannot get an ******** title.

  

  Business response

  02/12/2024

  ****************** also left a review on ******* to which we responded asking him to reach out to our Loss Mitigation team since there was no contact information for him in that review. The Loss Mitigation team has no record of any incoming calls or messages left by ****************** after our request for him to reach out.

  Also, we have no records of ****************** having any auto loans with ** in the past, so we are confused by what he is requesting from ** in order to get a vehicle title in ********.

  Since there is contact information included with this review, our AVP of Collections and Loss Mitigation has now attempted to contact ****************** at the phone number on this review, and will follow up with an email if contact is not made with the attempt to call.

  Customer response

  02/12/2024

   Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  They have finally contacted me and resolved the issue.  Can you delete this review.

  
  

  Thank you.

• Initial Complaint

  12/06/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Upon getting an auto loan with this lender, I was informed that I was required to carry *** insurance with the loan. This I was happy about as I know that it is great coverage to have. The coverage cost me approx. $650 to carry with the loan. I experienced a total loss accident, received a payout from my insurance company, and my *** insurance kicked in from Inova. I was later informed that I was on the hook for $440.37 of that loan. Confused, since I have *** insurance with them, I contacted Inova to see what this was related to. In the fine print, there is a clause that states if the insurance adjuster determines that there was pre existing damage to the vehicle, this could be a condition that would not be covered under *** insurance. Apparently I had an oil leak on the vehicle I had no knowledge of, and this leak did not contribute to the accident in any way. I am now being asked to pay this balance. My concern is that no where along the way was this clause ever communicated to me. I asked twice throughout the process for clarification on the *** insurance process, and was assured that indeed, my loan balance would be paid off should I experience a total loss accident. This seems like a pretty important piece of information that should be shared with ALL customers who inquire about an auto loan with Inova, and 2 employees failed to educate me on this information. I called to see what options I had since paying this balance without being prepared and around the holidays would cause a financial hardship and was informed there were no options.

  

  Business response

  12/11/2023

  After thorough investigation, it was determined *********************** called on 12/06/2023 and spoke with Total Loss staff regarding the amount due on his account.  He was advised that the funds still due on the account are related to the condition of the vehicle at the time of the total loss.  Progressive had subtracted $461.90 from their settlement amount when submitting payment to INOVA for the loss. GAP Insurance does not cover the adjustment (oil leak) that was made which resulted in funds still owed.  A copy of his signed GAP contract was emailed to him on 11/22/2023 at 1:25PM.  
  
  The exclusion is listed on page 3 Exclusions, #B.  This exclusion indicates: For any amounts deducted from the ***************** Settlement for wear and tear, mechanical or electrical breakdown or failure,unpaid insurance premiums, excess towing, storage, admin fees, loss mitigation,comparative negligence, salvage or other condition adjustments or for prior damage or for damage to the Covered Collateral that adversely affected the ***************** Settlement figure or for modifications made to the Covered Collateral that have adversely affected the ***************** Settlement figure.  This document, once signed was maintained by the borrower as well as INOVA.  

  Customer response

  12/12/2023

   I am rejecting this response because: the response from this business insinuates that its the customers responsibility to be fully knowledgeable about all of the language in the *** insurance contract. The reality of the situation is that most consumers do not read all of this language, and it should be the goal of a business to inform their members on the main points of that language. This was a main point. I have never been misled like this before when dealing with something so important, especially given the fact that it was confirmed to me twice by 2 separate Inova employees that I would not have a loan balance with the gap insurance, and this part of the contract for prior damage was never communicated to me. 
  
  
  

  

  Business response

  12/14/2023

  INOVA's Sr *** of Collections & Loss Mitigation shared the following:  "I called and spoke with ***** yesterday (Wednesday 12/13/2023) and we came to an agreement and resolved the issue.  Member has read through the *** policy and acknowledges that he understands and INOVA paid off the remaining balance in good faith."

• Initial Complaint

  11/27/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have an auto loan with Inova. On the 15th, my due date, I made a payment of $700. This is shown in one of the attached. For some reason, on the 16th, it went into my auto account and then immediately back out to my savings. This is also shown in another picture. I have also attached a photo of the payment options given for the auto loan currently. On the 15th, the amount was actually lower than the $615. My more than sufficient payment was taken from where I sent it to another account without my knowledge or consent. They play games with my payments then say I haven't paid. I am behind on my payments but am making progress and they do this.

  

  Business response

  11/28/2023

  *******, thank you so much for your feedback. We take every experience seriously and we will definitely share with our team. If you would like to discuss your experience further, don't hesitate to reach out to us at ************** or ******************************************

• Initial Complaint

  12/05/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I received a letter at home that I was preapproved for refinancing my car, so I went online and filled up the paperwork. The next day I was called by a ************** that run my credit and told me I was accepted for a much lower interest rate (which would have saved me around $80/month). Sounds good so far. She needed more documents from me which I provided, including copy of my ID, copy of my green card, and copy of my SS card. We started all this process on Monday. On Thursday, I asked when the paperwork going to be finalized and got a reply that she is waiting on the underwriting department. On Friday I got a call from her telling me that I got denied because of an old collection. So when she run my credit report initially and told me I was approved that information wasn't available? Why does your company need a copy of so many identity documents in order to deny? Now I am concerned that all my documents were provided to a company that didn't even plan to accept me and that all this process sounds like a scam to collect identity information.

  

  Business response

  12/06/2022

  The letter ************** received from INOVA Federal was not a "pre-approval", but rather an "pre-selected" offer, which is based on certain credit criteria that is further verified during the application process. The letter mailed to her includes information that is very specific about what being pre-selected means and is written as follows:

  1. The "pre-selected" offer of credit is based on information in your credit report indicating that you meet certain criteria, which will
  need to be verified. Offer is for members of IFCU and individuals that can qualify for membership. Visit inovafcu.org/join for
  membership qualification or call to ask. This offer is guaranteed for a $100.00 minimum line of credit with a *****% APR* with
  membership qualification. There are costs associated with the use of any lines of credit issued to you by INOVA Federal Credit Union.
  You may request specific information about these costs by contacting INOVA Federal Credit Union. If you do not want to receive
  pre-selected offers for credit from this and other companies, call the consumer reporting agencies' toll-free number at
  1-888-5-OPT-OUT ***************); or write: Experian Consumer Opt-Out, ************************************; Equifax Options,
  P.O. **************************************; Trans Union Name Removal Opt-Out Request, ********************************** 19094.
  

  Ms. ****** application was received on 11/26/2022,credit was authorized by her and pulled when she submitted the online application. Because of the holiday, contact with ************** was attempted Monday, 11/28/22 by one of our loan experts, and ************** responded that day. Our loan expert requested the necessary documents, which ************** provided on Wednesday 11/30/22.  The approval ************** received was for her membership, which is a regulatory requirement we must follow as a credit union, before any other products or services can be extended, she had not been approved for the loan at this point.

  Unfortunately when we sent the letter to ************** offering the refinance, the collection she is referring to was not on her credit bureau and that is why she was not screened out. The collection only began reporting in 11/22, even though effective as of 2/22, therefore we had no way of knowing about it at the time we mailed to her. Because it is a collection within a two year period, we cannot lend to her.

  Regarding ****************** inquiry about requiring identity documents, this is because of her permanent resident status. There are additional documents required to verify identity such as the permanent resident card and social security card in order to extend credit; this is our standard process of verification for membership, accounts, and loans.
  

  We are a federally regulated and insured credit union, and unfortunately are in a position where we must deny applicants, but before we can understand anyone's qualifications we must collect a variety of information about identity and credit history. We extend loans to anyone who qualifies and this is not a scam to collect any kind of information.
  

• Initial Complaint

  05/05/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On 4/30/2022 I attempted to pay my rent virtually via an online portal. My payment was declined 3 times. I received a call from fraud protection on 4/30. I verified that I authorized the payment. And I was told at least one of my payment was verified. On 5/4 I received an eviction notice from my apartment complex for a failure to pay my rent.

  

  Business response

  06/01/2022

  The delayed response to this complaint was not intentional, however, not seeing it when it was originally submitted was an oversight on our part and for that I apologize.

  After reviewing our records, we can see that ******************** card was declined three times on 4/30/2022, and for a different dollar amount of $886.74, than what was stated in the attachment provided of $861.00, and this was because the zip code portion of the address that was manually keyed into the system **************** was using did not match any of our systems.

  When an address is entered for payment that does not match our system, **** will decline those transactions. This is a security measure to protect our members because criminals do attempt to steal from people by trying to use stolen cards. Also, we do not see that **************** has attempted to use his card on this site in the past, so combined with entering a non-matching address to our system, it was a big red flag and did prompt the calls from the **** Falcon Fraud division. The calls from this division are automated, an even after **************** verified the transaction attempts were valid, the charge was still stopped and would have had to have been attempted again with all his correct information.

  It also appears that the aforementioned $861.00 referenced in the screenshot in the attachment was attempted from an account not with our institution, based on the last four digits; we're unsure how that ties into his card declines - if that transaction also did not go through, we do not have control over that.

  There would not be anything initiated by INOVA on a credit report for these transactions; **************** is asking for a correction to a credit report as his desired settlement to his complaint, but because we wouldn't report declined debit card transactions, we would not be in a legal position to request any corrections on his behalf.

  We will attempt to answer any other questions or provide further details around this matter if we are in a position to do so, and if **************** so desires to pursue anything further.

  Thank you.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩