Just wondering, but has anybody else ever gotten to the point in their banking experiences where they felt like trying to deposit a third party check was like rolling the dice or shaking the magic 8 ball as to whether or not they were going to hold or release your funds to you? Well, it's been that way for me for some time now at my bank, and last Friday morning was the last straw. The experience was so frustrating that I wrote a formal letter to the board of directors informing them of the details. What follows is the letter I sent, which might at least provide a good starter draft for anyone else who feels the need to write to their bank. Oh, and the names of the guilty have NOT been omitted so as to NOT protect their guiltiness. :)
The Letter
Lucille H. Herndon
CHAIRMAN OF THE BOARD
FIRSTMARK FEDERAL CREDIT UNION
P.O. Box 701650
San Antonio, TX 78270-1650
Dear Madame;
It is with great pleasure that I write to tell you how much of a true joy it is banking with Firstmark Credit Union. I have been banking for many years and with many different institutions, and have found yours to be one in a million in its no-nonsense approach to customer service and product line. For the past two and a half years, Firstmark has not only been my financial friend, but also the ONLY institution which I readily recommend to my friends and family.
Unfortunately, my experience this morning, Friday, March 7th, 2008, was far from pleasant. So far from pleasant, in fact, that I feel compelled to relay the events to you.
I arrived at the branch on Huebner Road to deposit a payroll check so that I could pay some bills and run some errands. The normal routine is that I present my ID, endorsed check, and deposit slip; the teller examines the integrity of the documentation, stamps the check, and gives me my receipt. This day, however, the teller (Keia) did not follow the routine I was accustomed to. After several minutes of examining his screen and re-reading the check and deposit slip, he excused himself to the back office. After several more minutes of waiting, he emerged to tell me that my check would be placed on hold pending its clearance. I inquired as to why, since this check was within the same range as a previous check I had deposited from this same company, and was told that it was “bank policy”. Now, I fully understand the policy of holding funds when judgment dictates, but I certainly did not expect this action in my case due to reasons cited previously. I began to inquire as to why then, if this was bank policy, had my previous check, or nearly ALL previous checks, never been subject to this hold. We quickly exhausted his supply of information, and so I asked to speak to his manager (Betsy Stavinoha), the person in the back room who had arrived at the judgment that my payroll check should be held. She emerged and politely asked how she could help me. Maintaining my pleasantness, I asked her the same questions regarding the judgment to place a hold on the funds. What followed for the next several minutes was a dialogue between she and I in which I attempted to understand her reasoning process so that, if possible, I could convince her to take into account my nearly impeccable banking record as well as the fact that this same company’s check, not thirty days prior and at nearly the same amount, had no problems clearing. It was at this point that she ceased to be reasonable and began to repetitiously chant the mantra, “it’s bank policy”. She did offer the “courtesy” of releasing $500 of the funds (not enough to be of use to me today), but refused to take into consideration the history associated with my account with regard to her own personal judgment to hold my funds. She attempted to console me by telling me she was trying to protect me from the possibility of the check not clearing, and that she was only executing stated bank policy (physically pointing out to me multiple times the plastic sign posted at the teller window). Following her line of reasoning then, I asked her why it was that “bank policy” was not consistent, and that in nearly identical circumstances on numerous occasions my funds had been released to me immediately, with never a problem to follow. The only response I received from her that even bordered on being reasonable was her “offer” to go back into her office and do detailed research on the history of my account, which she assured me would take at LEAST an hour to accomplish. Without a doubt this randomly applied timeframe was intended to dissuade me from accepting her offer, which I did decline since I didn’t have an hour to waste on this matter. It was at this point in the dialogue that her responses became so robotic, pre-recorded, and rehearsed that I thanked her for her time, took my check and left that branch.
I immediately drove to the Bandera branch, walked up to the first available teller with my check and deposit slip, and within five minutes had cash in my hand and all of my funds deposited and available.
The purpose of my letter then is to first commend you on the outstanding job Firstmark Credit Union does on a daily basis at setting themselves apart as “the People’s Bank”, treating its clientele like humans (not numbers) and being intelligent enough to use true judgment when making decisions. The alternate purpose of this letter then, is to report what I consider to be a true blot on Firstmark’s reputation in my eyes (and thus in the eyes of EVERYBODY I will ever speak to about Firstmark) due to the blatant lack of judgment shown me and true inconvenience placed on me in my attempts to conduct my usual banking business. It should NOT be that an individual has to role the dice or shake the magic 8 ball when they go to their bank, their financial friend, to conduct the same business they always do, wondering whether or not the particular teller or manager on duty woke up on the right side of the bed that day and would be capable of rational, intelligent decision-making. I should be able to rest ASSURED that I will ALWAYS receive the same level of customer care, consistent predictable application of “bank policy”, and the same quality of intelligent judgment every time I walk into any branch. If I wanted inconsistency, if I wanted to be abused, if I wanted to be treated unfairly, I would bank with Bank of America or Security Service Federal Credit Union. But I don’t want those things; all I want is what it is that set Firstmark Credit Union apart from all the rest of them in the first place to me: I want to be treated fairly and to deal with professionals of integrity, intelligence, and good judgment.
I could have understood the manager making the summary, back-room judgment she did having only skimmed the apparent immediate facts; but when the customer requests the time to reason with her and points out valid items that should also be taken into account, only to have those reasons dismissed and ignored with no regard whatsoever to their relevance in the matter, THAT I cannot and will not attempt to understand.
I sincerely appreciate you taking the time to read my letter and hear my grievances. I have no expectations as to the results this letter might bring, except for the hope that those with the proper level of authority to make policy decisions and mandate managerial supplementary training will truly hear my words and consider them, as Firstmark Credit Union continues to thrive and set itself far, far apart from the competition.
Sincerely and Faithfully,
DOUG BOUDE
