Halifax-area couple seek answers after claiming credit union misplaced $ 10,000

A couple from Portuguese Cove, Nova Scotia, claim that a credit union lost $ 10,000 of their money for a month, and still have no explanation why.

Alexandria White said it started with an attempt to help her mother, who was facing an unexpected financial challenge at her home in California.

“It was our hard-earned money to send to my mom because she’s going through tough times,” White said. “We thought, let’s help her.”

Waiting for transfer

On June 17, White’s husband Stephen sent a wire transfer of $ 10,000 from his business account to the Credit Union Atlantic branch on Herring Cove Road.

When the money didn’t arrive, White said they started to worry.

But she said the credit union, known simply as CUA, couldn’t help.

“They said they couldn’t trace the money until the two week mark,” White said.

She said her mother had not received any help from her local branch of credit union in the United States

The person on the phone she was talking to said, ‘I’m actually quite embarrassed to talk about it, but it takes a while for the money to get to you because the money is going from bank to bank to bank to bank. bank, ‘”White said.

Lack of money

Eventually, White sent his mother another $ 10,000 bank transfer, this time from her account at TD.

It reached his mother in three days.

White says she and her husband support the community orientation of credit unions, which made the ordeal particularly disappointing. (Carolyn Ray / CBC)

But after four weeks, the money sent by the AUC was still missing.

“We asked them what steps they were taking to at least get the money back, to find out where the money was. And they just say, ‘We don’t know, the trail hasn’t come back yet, ‘”White said.

Returned money

White said she finally received good news on July 16, a day after CBC News contacted AUC for comment.

“Wait a minute, they said ‘No credit.’ Then within an hour, they said, ‘The money would be in your account in the next 60-90 minutes,’ “she said.

White doesn’t think the AUC should provide wire transfers if it can’t match the speed and reliability of other institutions. She said she and her husband are particularly disappointed because they support the community orientation of credit unions.

Credit Union Atlantic told CBC News it couldn’t provide more details on why something like this happened. (Carolyn Ray / CBC)

“It’s a shame because they’re supposed to be… very famous. Isn’t it, like, the ‘local store’ of the banks?” she said.

“Unique elements”

A spokesperson for the AUC declined to discuss the details of what happened to the wire transfer, citing privacy concerns.

“I have been advised that this item has been discussed with the Member and the issue has been resolved,” Amanda Mueller, Manager of Member Sales and Experience, said in an emailed statement.

“There are complexities and unique elements in this particular situation which for reasons of confidentiality and confidentiality we are unable to communicate.”

Lack of recourse

White said she felt helpless during the month of waiting as there didn’t seem to be a mechanism for getting help.

“We asked them, ‘How do I make a formal complaint? “They gave us the branch manager number and stuff like that,” White said.

“We don’t want to talk to the branch manager. We want to file a formal complaint against Credit Union Atlantic.”

According to its website, the CUA serves 20,000 members from eight branches in the Halifax area.

It is one of 23 credit unions regulated by the province.

The Nova Scotia Credit Union Deposit Insurance Corporation and the Office of the Superintendent of Credit Unions have the power to investigate consumer complaints, said Michelle Stevens, spokesperson for the New Brunswick Department of Finance and Treasury Board. Scotland.

“Any member of a credit union can directly contact the Office of the Superintendent of Credit Unions, the Nova Scotia Credit Union Deposit Insurance Corporation,” she said.

Atlantic Canada credit unions also offer an ombud service which can be contacted at [email protected]

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