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I tried to use my Wescom Visa Gold card (that I have held for 14 years!) the other day only to be told it was expired. When I called Wescom to find out why I still had not received the new one, they informed me that they had closed the account! They claim they hold the right to close an account for any reason. I told them they have to NOTIFY me! They claimed they sent me a letter w/ a particular date. When I dug up the last statement I had just received, it was dated AFTER this supposed letter...yet, oddly enough, did NOT reflect ANY changes to my account! You would think it would state the account was closed!

As I was speaking to the customer service rep, I told her I was looking at the account online and it showed an available balance. All of a sudden, the screen went blank and then said it had logged me out due to inactivity for too long a time. When I logged back in...what do you know! The account all of a sudden said zero balance! As if my phone call had initiated all of this!

After researching Wescom, I have found that they may be the next bank to go belly up! They make bad loans to themselves (Board of Directors) and have too many credit accounts opened.

To pay for all of this, they are now charging monthly fees for services that used to be free. Or if you jump thru 5 fiery hoops, you can get free checking. Whoopee!

They also are doing the whole BofA trick of holding ATM debits too long and then putting them through out of chrono order to gain as many fees as possible. They actually held an ATM debit for 17 days on me, once! They claimed they had no control, but the store said they had never heard of a bank holding one for so long and there was no reason why it should have sat there like that.

AT&T Union needs to rethink their association with this "Credit Union"! They have gone way down hill!

Look them up in any review and watch the REVIEWS GET WORSE as time progresses! I predict they will go belly up very soon.

Monetary Loss: $8000.

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Anonymous
#184267

I totally agree I was a member for ten years &got a score of 7 in May,but they closed my account the next month without any explanation. :?

Anonymous
#169852

I agree, I've been a member since 1981 when they were TECU and the past year or so they have become very bad.I have been considering moving my accounts to another bank.

The clincher for me is the $3 charge they impose when they move money from my Money Market or Savings to checking when I overdraft.

As a Computer Scientist, this costs Zero dollars to do and it offends me that they have succumbed to such nickel and diming their loyal and long time customers.I would not recommend them any longer.

Anonymous
#139916

I'm a 20 year member, and have referred many others. I must agree with you. Never before has Wescom been so out of touch with its members.

I can't imagine who in their right mind would ever suggest that they "score" each member on a 1-to-10 scale and notify us of our score (5+ determines if your account fees are waived) - and the formula for the scoring is outrageous. If you don't use a certain feature, like bill-payer - even because another person in your house pays all the bills... YOU get scored lower.

Let me preface this by saying I scored an 8, which is high on the scale. And I am still offended by the concept. Are they trying to implode?

I also have to agree regarding the loosey-goosey "pending" issues with their check cards. I haven't been snagged by it, but I am close to someone who has. Their system is set up by design to throw those who live paycheck-to-paycheck into the negative... and then, instead of simply rejecting a transaction (as Chase allows their account holders to do without penalty), Wescom charges the member a $30 "courtesy fee" for covering the transaction... even if they go negative by a dollar. It's entirely about the revenue.

And forget about relying on E-branch or Tellerphone. Wescom reps are now telling members that these are "general guides" to account management, or "luxuries" - and even if they say you have an "available balance" of X-dollars, you may still have less.... and "you can always visit the...

Like I said, I've been a member for more than 20 years... I always recommended them up and down to everyone I knew, and so many people I knew joined. Last Summer, I even had a relative sign out and open an auto loan with Wescom. I swore by them. So it's even hard for me to believe that my own opinion of them has completely changed. But that's because THEY have done a 180 with the way they approach management and the way they treat us as members.

I never thought I would say this, but I'm just disgusted by Wescom now. Everything I describe happening has affected not myself, but other members I know... For the longest time, Wescom (formerly Telephone Employees Credit Union) was so great because you really felt you could trust them as your financial institution... that they were there to protect you and your money. Now I firmly believe they're there to take your money.

Somewhere, they lost sight of their identity as being not-for-profit and member-owned. As an entity, they now come off as greedy and desperate. Though I'm not entirely sure, I get the feeling it's a sinking ship. But I don't want to get off of the ship because it's sinking, as much as because I no longer trust the ideals behind it and the people who are running it.

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