NYU Federal Credit Union

I opened an account in 2016 and set up autopay deposit with my other bank, $5/quarter. For some reason, the bank stopped the autopay without notifying me, Nov 2022. Having stopped teaching at NYU, my [email protected] email was stripped from me about 2020, but I forgot that there was only one email address (and NYUFCU very cleverly does not insist on having another email). Buried in the fine print is that after a year of no activity, your account becomes dormant, which does not mean dormant. It means it becomes a gift to their profit/admins. They start deducting $10/month without even calling and leaving a 10-sec message. A letter had been sent but I was travelling overseas and so by the time I returned and opened it, 4 months had passed. So $40 gone and I had to jump through hoops to re-open the account (because when dormant you cannot access it!). The very pleasant woman, as pleasant as a snake can be, said there were many people in my position, who for whatever reason were not responding or not "active" and who were losing $10/month, in perpetuity. They had the courtesy to refund $10 of the $40 to me, and I closed down the account. I wonder how much they milk the older professors, retired, who assume that their money is just sitting there, maybe collecting some pennies of interest for a raining day long into the future? Those poor souls are losing $120/year.

Dear [redacted] , Your account was opened on and no transactions were done on it sincePer our policy, accounts must have one transaction every months to be classified active accountsAs your account had not had any activity it became classified as a dormant accountAt the time of opening an account with us, you had agreed to the disclosures regarding our service charge fees as well as all of the governing policiesDue to this, your account was charged the fees, according to the service charge schedule, for dormancyWe had also mailed you a letter about the dormant account at the time it became dormantIt appears that the address on your driver license is different than the address on the account here at the NYUFCUIt is your responsibility to let us know about any changes of addressPer your request we have refunded $fees back to your account as a courtesy and closed the accountWould you please let us know where we should mail you the check? Thank you, Mira N***, CEO New York University FCU [redacted]

I signed up to be a member of the NYUFCU because as a member of the NYU community it offered me the opportunity to build a close relationship with them as a trusted bank alternative
Once I opened my account I set some money down in a savings accountI have also applied to get a loanI applied to get a loan after graduating with my Masters of Science in Industrial EngineeringI had an amazing job lined up but not until the end of July and I needed some money to live off of for the summer
I was denied the loanNo explanation was ever givenI felt defeatedThis is not a place where I recommend people invest money inVery poor communication and very unrealistic restrictions

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that if it is carried out, then this resolution is satisfactory to me and the matter has been resolved
Sincerely,
*** ***

Dear [redacted], Your account was opened on 5/**/2014 and no transactions were done on it since. Per our policy, accounts must have one transaction every 12 months to be classified active accounts. As your account had not had any activity it became classified as a dormant account. At the time of...

opening an account with us, you had agreed to the disclosures regarding our service charge fees as well as all of the governing policies. Due to this, your account was charged the fees, according to the service charge schedule, for dormancy. We had also mailed you a letter about the dormant account at the time it became dormant. It appears that the address on your driver license is different than the address on the account here at the NYUFCU. It is your responsibility to let us know about any changes of address. Per your request we have refunded $50 fees back to your account as a courtesy and closed the account. Would you please let us know where we should mail you the check? Thank you, Mira N[redacted], CEO New York University FCU [redacted]
[redacted]
[redacted]

Dear [redacted], Your account was opened on 5/**/2014 and no transactions were done on it since. Per our policy, accounts must have one transaction every 12 months to be...

classified active accounts. As your account had not had any activity it became classified as a dormant account. At the time of opening an account with us, you had agreed to the disclosures regarding our service charge fees as well as all of the governing policies. Due to this, your account was charged the fees, according to the service charge schedule, for dormancy. We had also mailed you a letter about the dormant account at the time it became dormant. It appears that the address on your driver license is different than the address on the account here at the NYUFCU. It is your responsibility to let us know about any changes of address. Per your request we have refunded $50 fees back to your account as a courtesy and closed the account. Would you please let us know where we should mail you the check? Thank you, Mira N[redacted], CEO New York University FCU [redacted]
[redacted]
[redacted]