Circus Anyone?
I opened accounts at Red Canoe thinking that this is simple banking business, what can go wrong. I found out what can go wrong recently when I needed a routine thing done, that other credit unions do in about a minute once it gets to the right person.
Getting this done at Red Canoe involved about 15 telephone calls, 6-10 people and more than a week. It ended with a manager thinking she might have it resolved but suggesting that problems with systems and her being new to them might cause the need for further discussion in as little as a month. Meanwhile, the first customer rep I previously spoke with had no idea what I was talking about or who to send me to. The second one was grossly rude and hung up on me. Their manager was out, but assured me the problem would be resolved at month end. At month end, it was not resolved. The second manager who took it over did not contact me, and when I called her she dropped my call from the queue. I ended up having to plead with staff, literally, "pretty please with sugar on it", to walk my call into a manager who might actually get it handled, lest I end up stranded in an infinite loop of nonmanagers who have no idea what I'm talking about.
This is a con game played by some financial institutions. They call themselves a credit union, so they get your money, which they invest at a higher rate than they pay you for it. Thing is, they are supposed to provide a trained staff of caliber so you get service when you need it. That costs real money, that is, training people and putting processes in place so people know exactly how to help a customer with a specific kind of request. So all such investment is avoided, leading to a lot more more profit for the guys at the top. The joke is on those of us who trusted them. I shudder to think how other seniors I know, whose health is declining more than mine, would fare if they had to run this gauntlet to try to get simple things done with Red Canoe.
The Red Canoe executive manager I spoke with won't allow for a friendly separation with me cashing out without penalty. He assured me experiences like this won't happen again, but in an untrained organization it is guaranteed to happen again. His sales pitch and placation are thin veneer covering that he's holding my money hostage until certificate terms run out. He did not share any plans to upgrade his staff's ability to perform.
I like a circus on occasion when I'm with kids. I don't like a circus when I'm doing what should be simple banking business. How about you? read more
