1/30/08

IS SCHOOLS
FCU RUNNING
A SCAM?!

LET ME EXPLAIN TO YOU WHAT KIND

OF SCAM SCHOOLS FCU IS
RUNNING. WHEN A PERSON
"MANUALLY" DEPOSITS THEIR PAYROLL
CHECK (AS OPPOSED TO ELECTRONIC
DIRECT DEPOSIT ) AT A "SHARED"
BRANCH (PARTNERS WITH SCHOOLS FCU )

1
SCHOOLS FCU IS SUPPOSED
TO
CLEAR THE CHECK IN A TIMELY
MANNER.
BY WAITING AT LENGTH TO
CLEAR THE CHECK THEY EXPECT
THE CUSTOMER (OR MEMBER OF THE
FCU) TO ASSUME IT HAS CLEARED AND
PROCEED TO DO FINANCIAL
TRANSACTIONS USING THEIR DEBIT CARD
BEFORE THE CHECK HAS CLEARED.
AND IF THE CUSTOMER's ACCOUNT IS
LOW THAT MEANS THE CUSTOMER
MAY BE OVERDRAFTED,
UNBEKNOWST TO THEM (GIVEN
THE REASONABLE ASSUMPTION IS THAT
THE PAYROLL CHECK HAS CLEARED IN A
TIMELY MANNER) .
THEN SUDDENLY THE CUSTOMER IS HIT
WITH OVERDRAFT FEES AT THE COST OF
$22 DOLLARS PER TRANSACTION, NO
MATTER WHAT THE AMOUNT !
SCHOOLS HAS DONE THIS TO ME MORE
THAN ONCE, INCLUDING A $22

2
CHARGE FOR A .45 CENT
DEBIT CARD TRANSACTION.AND
WHEN THE CUSTOMER ASKS TO HAVE
THE CHARGES REVERSED SCHOOLS FCU
YOUNG LADY BY THE
(A

NAME OF ELAINE 
IN PARTICULAR)
HABITUALLY REPLIES IN A CARE-LESS
MANNER, "YOU
SHOULD HAVE
CALLED AND VERIFIED
THAT THE CHECK
HAD CLEARED FIRST" AND
CONFIRMS THAT THEY HAVE NO
INTENTION TO STOP THE SCAM UNLESS
FORCED TO DO SO.
THE PROBLEM IS WHEN THEY ARE
INTENTIONALLY
PROCRASTINATING WITH CHECK
CLEARANCE, ESPECIALLY PAYROLL
CHECKS THAT COME FROM A COUNTY-
FUNDED ORGANIZATION.

3
THERE IS NO LEGITIMATE CONCERN
THAT THE CHECK WILL NOT CLEAR. THEY
ARE DOING IT TO MAKE A QUICK BUCK OFF
THE CUSTOMER, MOST OF WHOM ARE
TEACHERS WITH MODERATE OR LOW
INCOMES.

IT IS VERY SLEAZY OF
SCHOOLS FCU TO OPERATE IN
WHY I
THIS MANNER, WHICH IS
FINALLY CLOSED THE ACCOUNT
ON MONDAY, JANUARY 28,
2008, AND HAVE BEGUN THE LONG
PROCESS OF ADDRESSING THIS MATTER
VIA OVERSIGHT COMMITTEES &
GOVERNING BODIES, INCLUDING THE
NCUA (NATIONAL CREDIT UNION ASSOC)
AS WELL AS THE DEPT OF FINANCIAL
INSTITUTIONS, AMONG OTHERS.
WHAT CONCERNS ME IS THAT THEY ARE
PROBABLY TAKING
ADVANTAGE OF OTHER
PEOPLE WHO ARE EVEN
4
MORE VULNERABLE THAN
ME .AND YOUDON'T
IMMEDIATELY SUSPECT THEM
BECAUSE WE USUALLY TRUST
OUR FCU's MORE THAN OUR
COMMERCIAL BANKS BECAUSE THEY ARE
(SUPPOSED TO BE)
NON-PROFIT, AND WE TEND TO BELIEVE
(AS PERSONS COMMITTED TO HELPING
YOUNG PEOPLE IN EDUCATION) THAT
THEY ARE ON OUR SIDE.

ITS A BIG WAKE-UP CALL WHEN

YOU REALIZE THEY COULD
ACTUALLY CARE LESS
ABOUT YOU OR EDUCATION.
THIS IS HOW THEY ARE LITERALLY
STEALING FROM MY ACCOUNT AND
UNDOUBTEDLY PLENTY OF OTHERS AS
WELL.
VanderKOK
JOHN PHILIP A. KOK
Tags: schools, fcu, schools fcu, scam, Elaine,