Rivermark Community Credit Union was a great credit union to get a loan from until recently. I had made a payment to the credit union in November and thought that everything was fine. I made my night deposit - as I do every other time - to pay for my loan with the company.
Come a month later, I go to the door at my work because I hear a loud pounding. There is a tow truck with my car in tow and a man that says my car is being repossessed by Rivermark. I told him that I had made a payment just last month, but he didn't want any details, and I don't fault him because that isn't his job.
Later that day, I call Rivermark and contact someone whom I had already spoke with on my account in days passed. He was very rude, and very impolite, but gave valuable information. You see, when I had told him that I had made a payment, he said that I had not made any payments, but I made a deposit into my savings account with them.
A back story - I have my own credit union which is not Rivermark, and I have never used any services from Rivermark except cashier's checks and my loan. Fast forward today, and I have a car in repossession and they still have my payment, sitting in my savings account waiting to be applied to my loan - but the clencher? Now they want the full balance of the vehicle before they will release it.
This is the fourth year of my contractual obligation on this loan, and Rivermark has a history of processing payments as deposits. I have a friend who also has a mortgage with Rivermark which has had this happen on 7 different occasions, of which all 7 Rivermark is at fault.
Rivermark Community Credit Union has created an unfulfilled contract by creating a situation in which they had put the payment into another account and not applied to my loan payment. This activity cannot and should not be tolerated by its members or the community it claims to represent.
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