7 Customer Reviews
Review from Alvin C
1 star07/23/2024
Used car loan has hidden fees got charged additional 2k for insurance I already fixed.
Selco Community Credit Union Response
07/24/2024
With respect, customer let his insurance coverage lapse contrary to our agreement. After multiple notices to the customer and the customer not obtaining the required insurance, SELCO had no choice but to force place insurance to protect the collateral.Review from Alvin P
1 star06/25/2024
Crooked bank working with shady dealers First the dealer tries to add a bunch of extras on behind your back which he was actually fired for doing when you get the 5 k extra took off the loan that the bank cant get their loan rate on they take on a $1,100 40 day insurance policy out on the vehicle yes I had signed for but never got to drive due to the dealership repeatedly having to take back to fix things so I still had my coverage on the trade in cause I was still driving finally get the vehicle the coverage was switched They also back dated it to exactly the date the paperwork was done which in my area you have a 14 day period to get it done They wanted it done by the 26th and I had called my insurance company the 22nd to get everything set up but didnt switch it completely cause I still had the other vehicle and not the new one And they can see everything that happened I even brought the paperwork in for everything that had to be done and got nothing but rude employees at my local branch Thanks SELCOSelco Community Credit Union Response
06/26/2024
Please know that SELCO purchased the contract from the dealer as is common in the industry. As such, it has no awareness of your interaction with the dealer. As you indicate in your response, you are required to maintain adequate insurance coverage on the collateral. When you fail to carry adequate insurance, SELCO will place insurance on the collateral to protect its security interest; only after multiple notices and an opportunity for you to correct the deficiency. SELCO does not mind criticism and strives to improve but finds it a bit unfair for one to impugn its integrity based on an interaction it was not part of and the complainant's failure to comply with contractual terms. I hope things improve for you and I am sorry for your difficult experience with this dealer. I would appreciate knowing the name of the dealer so we can follow up in an effort to improve/prevent subsequent negative experiences.Review from Mika A
1 star03/03/2024
I bought a truck in August of 23, i understand the importance of having insurance. i found the insurance coats to be extremely high so i stopped and looked for another policy. Selco tagged on there own policy to my car payment and also added some hidden fees that i was not aware of and they say its in the contract. The dealer never went over the fees only had me quickly sign the paperwork. I feel hooked line and sunk by selco. not consumer easily to work with as nvever in my life ever as i am older have i had this . Very unfair practices.Selco Community Credit Union Response
03/04/2024
I am unable to locate a **** or ******** **** in our system. I would be happy to follow up and look into this matter further. I would ask that you email me directly to provide more information so I can locate your account.
I would generally share that ******************************* is a product that is administered by a third party authorized by the ***************. The premiums charged are approved by the *************** and the amount of the premium depends upon the balance of the loan not the risk of the borrower. Further, while SELCO does add a $50 administration fee when a policy is added to the loan, the entire premium is paid to the third-party insurance carrier. The agreements signed at the dealership discloses insurance requirements and advises insurance will be placed on the loan if there is no policy in force. Adding CPI to the loan is avoidable and fully or partially refundable depending upon the circumstances; namely if and when coverage was in place.
Finally, multiple notices are mailed and emailed to addresses provided by the borrower in advance of placing the policy.
Having said all of the above, people are human and if a mistake was made by SELCO, we will make it right. I look forward to hearing from someone.
Review from Valerie B
1 star01/23/2024
There is so much they have done that it would take too long to put it all in here. They have went so far downhill over the last few years, specifically in the area of gouging their customers. The most recent problem was when I paid my 2 loans using their new debit card option which says my payments will post same day. That was Friday morning and its now Tuesday in terms of banking days and instead of posting my payments they marked my account past due, even though payment was on made on the due date. I have sent a memo on Saturday to which I have had no response? I called on Saturday and the did not have anyone that had the access to post my payments and called again Monday and still havent posted my payments. All in all I have wasted over an hour on the phone and still no resolution. Even sent them copies of my bank statement showing how they took the money immediately out of my external account. They simply dont care about anything unless it benefits them. I get a letter if I 5 days late on my loan, but have never missed a payment in the 8 years I have been a member and they still provide such horrible service. As soon as my loans are paid off Im will not do business there anymore. Its simply not worth the trouble trying to resolve issues with people who dont care when they make mistakes with your money.Selco Community Credit Union Response
01/24/2024
Thank you for your comments. While some of the complaint just represents frustration and a little piling on, your concerns did help us find an issue with a vendor that was likely impacted the ice storm. As you may know, our offices were closed on Monday, Tuesday and Wednesday of last week. We are working to reapply your payments to the date they should have been posted. I believe 1/20/24 will be the effective date when the SELCO team finishes its work. I hope you can appreciate that things beyond the organization's immediate control can impact expectations. I also hope you can also appreciate we do what we can to make it right.Selco Community Credit Union Response
01/24/2024
Please substitute this revised version for the original (previous version):
Thank you for your comments. While some of the complaint appears to represent frustration and, perhaps, a little piling on, your concerns did help us find an issue with a vendor that was likely impacted by the recent ice storms. As you may know, our offices were closed on Monday, Tuesday and Wednesday of last week. We are working to reapply your payments to the date they should have been posted. I believe 1/20/24 will be the effective date when the SELCO team finishes its work. I hope you can appreciate that things beyond the organization's immediate control can impact expectations. I also hope you can appreciate that we do what we can to make things right.
Selco Community Credit Union Response
01/25/2024
Okay. Last time. Please use this final response instead of the previous two. Thanks.
______
Thank you for your feedback on the delayed posting, which helped us identify a vendor issue that was likely caused by the ice storm and corresponding closures last week. We have notified our vendor and have reapplied your payments to the date they should have posted. Your account now shows as current. We hope you can appreciate that things beyond an organization's immediate control can impact timelinesand we certainly appreciate the chance to make it right. While members may occasionally experience delays when contacting us by phone, especially in the wake of a storm, please know that were also available by chat, text, or email.
Review from Robin M
5 stars07/31/2023
I've been a member for ****************************************************************************************************************************************** the PacNW, but overall I'm really happy w/Selco.Selco Community Credit Union Response
08/01/2023
I've confirmed SELCO does not require in branch presence to reissue a debit card. Someone in SELCO's ********************** or ************** will contact directly via the information we have on account. Alternatively, feel free to contact us directly at ************. I apologize for any confusion.Review from Sadie R
1 star03/15/2023
If you expect to ever call and spend less than an hour on hold waiting to talk to a live person, this is not the bank for you.Review from Bonnie K
1 star07/08/2022
I am not unique in the fact that I took a huge financial hit due to covid. Selco is aware that many of us are struggling financially. I received a car loan through Selco Credit Union over two and a half years ago at a 13% interest rate. That's extremely high but I had a low 660 credit score from student loan. My previous loan was almost 20% so there offer seemed great. Cut to today: I have been paying for over 2 1/2 years on a 2013 Dodge Grand Caravan at $310a month. When I had to quit my job due to unavailable childcare during covid I took out my 401k to keep us afloat. That held us until quite recently. I was able to go back to work unfortunately due to health issues my child suffered directly correlated with covid he is now deaf in one ear. After 6 months I again had to leave. I have been late on several payments and was very close to being repossessed at one point. I'd like to point out that is only within the last 8 months before that every payment was made on time or within a few days. I finally got some taxes back I called Selco and basically offered to pay off my remaining debt at a slightly lower amount as I only received $4,000 back. I still owe $4,200. I offered to pay $3,800 and explained they had already received almost three times what the $10,000 loan was for. There's definite wear and tear on the vehicle I couldn't even offer it as a trade. If it came to repossession they would not be able to sell it without thousands in repairs. I felt like this was pretty fair and reasonable.They are getting a guarantee bulk sum that I can not promise I'll be able to make if broke up into payments. I suppose I was hoping that they would see that in good faith I had called with the little amount I had gotten, and cut me some slack. Be kind and empathetic as weren't loosing money if they took my offer. Apparently they "don't like to accept partial payments". Well duh I know you don't "like" to I was hoping you'd do it anyways. If I could give - stars I would.
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