Credit union account cloned


Credit union account cloned

Tell Claudienne

Sunday, March 08, 2020

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Dear Claudienne

Prior to 2014, I borrowed $300,000 from the St Elizabeth Cooperative Credit Union Ltd that has since merged and become a part of C&WJ Co-op Credit Union. With the merger, the money I borrowed was placed under the C&WJ Credit Union's revolving loan scheme.

ln 2014 I informed the credit union that I was no longer interested in the loan. I told the agent that I was going to clear the outstanding balance and discontinue the deductions from my salary that were being used to service the loan.

I was advised to go ahead and clear the balance, which I did, and my employer was instructed to stop the salary deductions.

In my mind the account was closed and I no longer had a loan with the institution

In June 2019, I decided to check my account online and it was then that I noticed that there was an outstanding sum of $297,500 on my account. I also discovered that $34,000 was missing from my shares.

When I contacted the credit union I learned that my debit card was used to withdraw the revolving loan proceeds and also $34,000 from my shares.

l then informed the credit union by letter that the two transactions were fraudulent and that my debit card had been cloned.

When I enquired from the agent why the account had not been closed I was told that a written request to close the account had to be made. If the request to close the account was not made in writing the account operated like a credit card.

I then asked the credit union to do an investigation.

I am sending you this email on February 8, 2020, eight months after I noticed the fraudulent transactions online and informed the C&WJ Co-op Credit Union of the situation. However I seem to not be getting anywhere in having this matter resolved.

In the meantime the credit union has been taking funds from my account monthly to pay this loan, even though the matter is under investigation, and if it is not paid my credit will be compromised.

It is very unfair for me to be servicing a debt I had nothing to do with.

I need your help in having this matter resolved.

Thank you.


Dear CR

Since Tell Claudienne contacted the head office of the C&WJ Co-op Credit Union about your concerns, you have informed the column that the matter has been resolved amicably.

We wish you all the best.

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