Complaints; We Told You So
Posted by Anthony Demangone
On Wednesday, NCUA announced a new consumer-focused website - MyCreditUnion.gov.  While many may focus on the consumer education component of the new website, my attorney-diminished mind searched for the possible problem or new risk.  That's how my mind works, or doesn't, for that matter.  Just imagine being married to me. Â
Well, I did find something. Â The website devotes quite a bit of real estate to help consumers determine how to make a complaint against their credit union. Â There's a section titled "Help With My Credit Union."Â Â Â In case you were wondering, the section doesn't help a member find out where to send flowers for credit union appreciation day. Â No, it helps them with complaints. Â Specifically...
- When should one make a complaint?
- How does one submit a complaint?
- What to expect after submitting a complaint?
I'm not sure there's anything new here of substance. Â But the marketing push should (at the margin) increase the likelihood that someone makes a complaint about your credit union to NCUA. For that reason, it is always important to take member complaints that you receive directly in a serious way. Because the next person they talk with may be their friendly credit union regulator.
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File this one under: We Told You So. Â It looks some banks are considering placing a dollar limit on debit card transactions.Â
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Speaking of complaints. Â I am getting old. Â I remember when tube socks were "in." Â Then it was shorter white socks. But I just don't see myself wearing black athletic socks anytime soon. Â I simply do not like this trend, and I fear it may be 20 years before the socks I am comfortable with are back in fashion.
Have a great weekend, everyone!