Credit Union says I have a loan which I don't

D

Dolly1

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Hello I have a verry big problem with my credit union account.

I saved 1000 Euros in my credit account.
Went in last Christmas and took it out .
I left 5 Euros in to keep my account open.
Started to save again for this Christmas.

Now they are saying that the money I took out last Xmas was a loan.

But I never got a lone off dem I tuck out my savings. And left 5 Euros in .
I should have nearly 2000.in my savings and there saying I don't.
I am going further about it

They also allowed someone to go into my account with out my permission

Then never ring me or email me about this .

I don't do on line with credit union .or banks .
 
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Is the credit union account yours only? Can anyone else take money out of the account without your signature? Do you have the little slips they give you for withdrawals or lodging money?
 
They should have the signed withdrawal slips for any withdrawals. What do you mean they are saying you have a loan? That’s very black and white, there either is a credit agreement or there isn’t? Are you sure you don’t have a current account with them that has an overdraft?
 
Hello Dolly

The person in the Credit Union has not explained it to you properly.

One thing that Credit Unions often do is as follows:
You save up €500 in your share account.
You want €400.
But instead of giving you back your own money, they give you a loan of €400.
But your €500 is not gone.
Your €500 is still there but you owe them €400.

It's very odd that they say you have a loan if you have not been making repayments.

You need to get statements from them for both your alleged loan account and your share account.
 
Could you have arranged a loan with them in the past? The loan would likely sit there until it was needed, possibly 3 months. Could you have accidentally drawn down the loan instead of taken money out of the savings? It wouldn't account for the money not being in the but it would explain how the loan ended up on the account. Either way they should be able to go through each transaction with you as they can print off a statement and you can see when the money was taken.
 
Brendan Burgess said:
Hello Dolly

The person in the Credit Union has not explained it to you properly.

One thing that Credit Unions often do is as follows:
You save up €500 in your share account.
You want €400.
But instead of giving you back your own money, they give you a loan of €400.
But your €500 is not gone.
Your €500 is still there but you owe them €400.

It's very odd that they say you have a loan if you have not been making repayments.

You need to get statements from them for both your alleged loan account and your share account.
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This used to be very common in the past. The loan account and the share account should have the same number so this can be confusing.
 
clueless said:
Do they not have a photo of your ID on your account?
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They allows someone to go into my account and take money out with out my permission. They said the person must of got my email address and phone number .but I said that still would not of allow anyone to get into my account. With out me be concerned witch I was not ....no one got a loan out in my name .and I never got a loan off dem
 
Hi Dolly

1) Do you know who made the withdrawal in your name?
2) The Credit Union should have some documentation which they signed.
3) They would also have CCTV to identify the person
4) I don't see how they could have made a withdrawal with your email address and phone number? If they set up an online account they would have transferred it to another account and the Credit Union should follow that up.


Do Credit Unions have someone on the staff who investigate frauds?

Brendan
 
I think my advice to Dolly would be to write everything down & arrange a meeting at the Credit Union; ideally bring someone along with you.

If a loan was taken out there will 100% be some signed documents.
 
Hi Dolly, I think you should contact the Gardai about what has happened.
There has been instances of fraud before in credit unions.
I would talk to the Gardai first before talking to the Credit Union.
 
Start off with asking them for statements from ALL accounts in your name for the past 2 years.

Review these, perhaps with someone to assist you and confirm the flow of transactions. Look at the date of withdrawals in particular and confirm that it was you, eg check what you were doing then.

Check that you don’t have another shares account or similar where your money is sitting. The system of lending rather than withdrawing savings can lead to confusion when you lodge money. It might not be clear if it was to repay a loan or to add to savings. When all transactions were in person it was easier to confirm but online is not so straightforward.

I would suggest that you carefully review all statements and ascertain which ones were definitely not requested by you before you go to the gardai.

Also was it Capital Credit Union? They had some IT issues earlier this year I believe.
 
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I would also ask if online banking is set up on your account, if not then it didn't happen that way. If it is though and you didn't set it up then I would be looking at who has access to your post at your address and would know your email address just in case it could have been set up by someone else, although if codes on phone are needed that might not work. I know I set up my father's online banking without any input from him at the time, with his permission though obviously!
 
clueless said:
This used to be very common in the past. The loan account and the share account should have the same number so this can be confusing.
Click to expand...
But I never got a loan off dem I tuck out my own money
clueless said:
Could you have arranged a loan with them in the past? The loan would likely sit there until it was needed, possibly 3 months. Could you have accidentally drawn down the loan instead of taken money out of the savings? It wouldn't account for the money not being in the but it would explain how the loan ended up on the account. Either way they should be able to go through each transaction with you as they can print off a statement and you can see when the money was taken.
Click to expand...
 
Dolly1 said:
But I never got a loan off dem I tuck out my own money
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OK, you need to get a handle on the facts of what happened. There's not much else anyone here can tell you. Establish the facts with the credit union and figure out how the money was withdrawn, by whom & when - you'll need statements, possibly supported by copies of the withdrawal slips. If they're saying there is a loan ask for the credit agreement etc. etc. Until you do this you are none the wiser as to what has happened. There should not be a loan unless you have applied for one, signed the credit agreement and drawn it down - the CU will have to prove that this has happened. If they can't then it is probably a criminal matter.
 
You say you don’t do online so did you go there regularly since last Christmas to add to your savings account? In which case you should have seen the balance each time you made a lodgement. So I’m puzzled as to where your €2,000 went. How many lodgements was it? Can you see all these on your statements?
 
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