Seven Seventeen Credit Union - Cortland Office
Seven Seventeen Credit Union - Cortland Office Reviews
Gregory J Christopher
1 contributions
0 helpful votes
Overall Feedback:
I’m going to give an honest customer review, and I hope you as the consumer take the time to read this before doing business with this frim. Basically, their loan states that if you do not have insurance on your vehicle, they are able to supply you with insurance at the owner’s expense. Which as a customer you have to understand, they still own a majority of the asset and they need to protect themselves. However, the way they go about charging this insurance is completely unethical: They front load the cost of the insurance on an annual basis (this may seem confusing but be patient). They charge about $3,180 / year for insurance, but in the last 3 months you pay about $1 / month. The first day, the insurance costs about $85. Then the next day it is about $80. So if you are switching insurance and there is a down time of 1 or 2 days, or you switch to the incorrect insurance, all they do is send you a letter in the mail and start charging, they will not call or email. They do not want you to find out that you are now being charged. I had the incorrect insurance, and after one single month was charged over $900 for auto insurance. That is almost 33% of the annual insurance in the first month. In the first 2 months you would have paid for ½ half a years’ worth of insurance. Seven Seventeen execs know exactly what they are doing here. They are generally hoping that there is a time break when switching insurance or that the customers selects the wrong insurance because they know it’s a pay day for them. I advise anyone who is looking for an auto, home, or business loan to stay away from this company. They come across as a neighborly credit union but that is just a facade. That being said, the front-line staff was as helpful as possible and great to work with. I feel for these workers for they have to deal with the repercussions of unethical management practices. Also, a story for another day, I caught them over-charging me on my auto loan. I had to call into them and explain to them how an amortization schedule and interest works and the worker immediately realized Seven Seventeen was overcharging me. They then went on to say I should come and work for them. Again, front-line workers are fantastic and I commend them for working for such an unethical management team.*some of the figures used may be inaccurate, they are a close estimate from my recollection
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