Texas CU Regulator: Complaints Up Almost 20 Percent in FY 2018

The Texas Credit Union Department is reporting that there were 347 complaints against credit unions for fiscal year (FY) 2018. This is up almost 20 percent compared to fiscal year 2017.

The following chart identifies the top complaints received in fiscal year 2018.

Other frequently cited complaints included account/loan balances, collections, electronic funds transfers, hold on checks/accounts, closed or frozen accounts, vehicle title issues, billing disputes, and the purchase of collateral protection insurance for loans.

The Texas regulator noted that credit unions should work with their members to resolve issues before they become complaints.

Read the Department Newsletter.