Tower Federal Credit Union Reviews 3

I refinanced my auto loan through a broker and ended up with Tower Federal. This is the worst loan servicer I've ever had. The set the auto-pay date and will not let you change it. If you miss it, they will cancel auto-pay but it is then impossible to make a payment on your loan online through their system. You will have to pay it from your own bill pay. They hide the address to send the payments to make it more difficult. If you ask their online assistant, it's only response is "it's best to make your payment online!" but there's no way to connect your existing bank accounts to transfer money into the required bank account. They offer to "link" your bank accounts, but it's completely useless, as they just show the balances. Not actually linked. Pretty sure the have a strategy for collecting fees as a revenue stream. Surprised I didn't get charged for calling them. FYI - the emails that they send that say replying is an option, they just go into the void. Don't bother. If you call in, on the chance you can reach a person, the service agents seem to also hate their job.

Terrible policies. I had an old account with TowerFCU that I stopped using. I wanted to close it. They said I had to write a letter with my signature and send it to them.

So here's the thing. When calling, I had to give them my SSN, my phone number, my DOB, my mailing address, and even my secret word. Plus two more "security" questions. Yet somehow, all that verification wasn't good enough for them to give me my member's ID since I no longer have it.

Second, because I moved, I no longer received their statements (which apparently don't get forwarded) so I cannot get my member's ID there either. And yet they threaten to charge me $10 if I didn't update my address because, you know, policy.

Now to close an account, all they need is my name and my signature. That's it. Somehow that's good enough for them to verify my identity.

It makes no sense. I had to give away my personal information to verify my identity and got nothing in return. But to close an account, all they need is a letter and signature. That's just a huge turnoff. Stay away from that poor service business.

My wife and I started the process of getting a Home Equity Line of Credit (HELOC) from Tower FCU and they are good for getting 2nd lien HELOCs.

Overall, it has not been too bad working with them except for getting them to make corrections to their paperwork as well as the fact that they are SLOW. Getting to the closing and actually having the HELOC funded took 1-2 weeks longer than it should have and that was basically all due to Tower's end. Just opening a free non-interest checking account to go with the HELOC has taken over 3 days and we haven't got an answer as to what the problem is. You have a $20K HELOC and they are dragging their feet to give you a checking account to use along with the HELOC. ???