Checking or savings account -- Managing an account -- Complaint #6561543
Complaint Overview
Complaint ID: 6561543
Company: Vystar Credit Union
Product: Checking or savings account
Sub-Product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-Issue: Problem with fees or penalties
State: Florida
ZIP Code: 32233
Date Received: 2023-02-11T12:00:00-05:00
Date Sent to Company: 2023-02-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
I had XXXX in CD at my credit union that I opened up on XX/XX/XXXX for a term of three years. I was so busy this past month that I forgot about the cd is maturing on XX/XX/XXXX. The credit union didn't send me a reminder that my cd is maturing. They automatically renewed my cd for a term of three years at 3.2 %. When I tried to change the term of the cd to a shorter period, the credit union said they'll penalize me with 180 days worth of interest or about {$3800.00}. Is that legal? Other banks or credit unions will forfeit the interest from the the time the cd was opened to the time the term of the cd is changed. Please help. Thank you.
Frequently Asked Questions
What is Complaint #6561543 about?
Complaint #6561543 was filed against Vystar Credit Union regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-02-11T12:00:00-05:00.
How did Vystar Credit Union respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Vystar Credit Union?
Yes, visit the Vystar Credit Union company profile at readthecomplaint.com/company/vystar-credit-union to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.