Update: I have the luxury of living close enough to Tower's service area, so I decided to schedule an appointment at the Laurel branch. I arrived around 15 minutes late due to traffic, but they said it was not a problem. After basically no progress working with the online people over the course of 3 weeks, I was in and out of the branch with membership and a loan check within 90 minutes! Highly recommend visiting a branch if you're close enough for this to be practical.
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
Well looks like GCFCU is now dead unless you live in Florida.
www.gcfcu.org
Consumer Loans | Gold Coast FCU (West Palm Beach, FL)
Consumer Loans | Gold Coast FCU (West Palm Beach, FL)
www.gcfcu.org
Tower FCU should rename themselves as Shower of Sh!t FCU. What a shambles of a financial institution.
It took 45 days to get the check to Tesla -it should never take more than a few days to arrange a car loan, 7 days tops.
After all the usual shenanigans that others have reported here about being on hold for hours on end etc etc - I had the following experiences:
I hope after this experience that they learn from their mistakes and come out of the Stone Age with their processes…
It took 45 days to get the check to Tesla -it should never take more than a few days to arrange a car loan, 7 days tops.
After all the usual shenanigans that others have reported here about being on hold for hours on end etc etc - I had the following experiences:
- losing a reservation on car that was available, and held for an extra 5 days even though I had conditional loan approval, as they took SOOO long on the membership side(which should have been automated box tick exercise and done in 30 mins)
- Not sending the ach test transactions -even though I had already given bank details in the membership app for the various deposits needed…took over a week to resolve
- putting a request multiple in times for extension of the conditional approval, as my revised delivery date was way beyond the 30 day loan approval window. Reps promised they’d sent emails to my loan officer.
- on feb 20th the rep said they weren’t giving extensions to loan approvals as of feb 15th….WTF!!!.
- chasing full loan approval right up to the 29th day of the conditional approval as a car was now ready for delivery…literally on the phone from 5am pacific time each day.
- Loan officer didn’t send a picture or tracking number of the check as promised 3 times on the phone
I hope after this experience that they learn from their mistakes and come out of the Stone Age with their processes…
If you call as soon as they open you can almost always get someone. They have been super helpful every time I called.
Teedub21
Member
Same thing happened to me. Im guessing it’s because I didn’t include my wife’s income and they figured my DTI was too high. Have an approval through my regular CU but at 4.99%.
Why would one include spouse’s income?
Monthly payments are well under 5% of my gross income.. their rejection doesn’t make sense to me.
Will give it shot - car delivery is on 03/05/22 and local CU at 4.75% and WF from Tesla at 5.44%.
Thinking of going with local CU given no other options below 4.75% given Armco declined for one of the craziest reason.
Their reason included high balance on revolving accounts which total to $120 (checked credit report through amex credit secure).
They only have a grand total of 2 loan officers and 1 manager from what they told me!
Teedub21
Member
Well not everyone here makes $15k a month I guess. With my wife’s income combined we’re well over that since we’re both professionals. Probably considering our monthly nut I should have done a joint application. I’ve never had to with our local credit union but we have a working relationship with them I guess.
Armco most likely got this info from your credit report. I suggest you pull your more recent CR to check if there is any error. CR from AMEX is like one month lag. You can get your more up-to-date CR from creditkarma.com. It is free to join.
FYI…Armco pulled me from Experian. Good luck.
Armco most likely got this info from your credit report. I suggest you pull your more recent CR to check if there is any error. CR from AMEX is like one month lag. You can get your more up-to-date CR from creditkarma.com. It is free to join.
FYI…Armco pulled me from Experian. Good luck.
Checked Credit Karma too - same info as amex credit secure. Thank you though!
StoXto3toY
Member
Ahhh..speaking of Amex, if you have any Amex charge cards, sometimes, underwriters mistakenly look at the balance on on a charge card (platinum, gold etc..) and factor the total balance into a recurring monthly payment for purposes of calculating your DTI. You may want to ask about that.
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