Austin Telco Federal Credit Union

Elite '09

77

120

Trevor R.

Austin, TX

12/10/2008

I joined Austin Telco years ago because they had pretty good rates on car loans, and because a member-owned credit union seemed preferable to an evil corporate bank. Shockingly, Austin Telco turned out to be even more evil than Bank of America. Since their web banking lags a bit behind the times, they always used to make changing your address a huge pain, where you have to mail or fax a signed update. Well, one time I apparently forgot to update it, and they started charging me a $10/month Bad Address Fee, even though they only mail statements quarterly and they had my correct phone number and email address. 20 months later when I discovered this, these thieves had already stolen $200 from me. When I called to get my money back, I got a lecture about "my responsibility to monitor my account". The woman said, "you need to monitor your account to ensure there is no fraudulent activity". I agreed that that would be a good idea, but suggested that perhaps my bank shouldn't be the one defrauding me. After arguing with this woman for 10 minutes or so, she put me on hold to "talk to her supervisor", and when she came back on the line, said she could give me half of my money back. Well, Austin Telco, you can have half the stars you would otherwise get, thanks to your complete lack of integrity (redeemed slightly by your good loan rates).

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