Loyalty of nearly 30 years means nothing
After 30 years of loyal service, equity of $700k and being knocked back at the last minute for a small loan after being told APPROVAL pending and then at the last minute being declined for something that was provide up front was extremely shattering. Loan was to assist for a family funeral all explained upfront. Loyalty means nothing and assistance to find a solution. Loyalty works both ways.
No explanation of why load declined.
Applied for a person loan through people choice credit union as they advertise the the best insterest rate. Me and my wife both have a stable income and a house with about 70k equity in and no other loans. I am self employed so got the last to years financials together for my business and personal finance docs and my wife got her 3 most resent pay slips together. We save over $250 per week every week and we were just after a small $15000 loan to purchase a camper trailer. After 4 days of waiting I rang to find out the outcome which I was thinki...ng we could have no trouble but when I got in contact with them they told me I didn't meet the criteria and was declined with no other explanation! When I push it they still told me the same thing. It is unexepctable that they can give no explanation and now my perfect credit rate had a declined make on it. I went into Comn bank they they are more than will to lend us the money. We were very disappointed with PCCU and as if they delay we lost the camper we wanted to buy
So far nothing but the runaround
We approached People's choice credit union approx. 4 weeks ago now to refinance and go to interest only payments as I'm planning on returning to study. We have the capital in our home to come in under 80% LVR. Initially we were told no problem, just give us all the docs etc and we'll get it sorted. Then after WE chased THEM up we were told the 'creditors' weren't comfortable but that if we made the extra amount p&i payments and the existing mortgage amount interest only it would be a green light. The extra is for a car & some home improvements ...(flooring and fencing). We agreed with this arrangement and were told all should be sorted within a week. Again WE had to call THEM after several days and we're now being told that the creditors aren't comfortable about the $9k allocated for home improvements, want invoices produced for work done and THEN they'll give us the money! What??? WORST SERVICE EVER so far. Lies and false information up front about how easy this would be. We've given 24 hrs for them to get back to us or we're going elsewhere. We had shopped around and been told we'd have the go ahead with several other institutions and chose people's choice - beginning to regret that decision...
What a joke !
I have been with Peoples Choice for 15 + years I thought I might combine my credit card debt and my car loan together to reduce monthly payments and do some financial Housekeeping . the Application Process was easy with a green light for approval everything was all go. I supplied all the necessary doc's and then they would contact my employer for the necessary check's. But after 2 and a half weeks of waiting to hear what was going on they called to say sorry we have to reject the the Application we can not help you . All this was after being t...old your loan is Approved and this is how much you will save per month that I thought was great . I said what is the issue I have a good secure Permanent job and I am trying to reduce Debt and free up more surplus cash and eliminate the need for a credit card ! So really anything that will benefit me and make my life a lot easier does not seem to fit Peoples Choice Credit Union criteria . Yet I have had two car loans with these people and when you need help they don't want to know ! After nearly 3 weeks of waiting and being lied to and basically being told false information and given the run around for nothing ! I'm pulling the pin after the new year with these people ! it's all false Advertising on TV saying anything is possible ! it is true But not with People's Choice Credit Union !!!
Loan sharks. Plain and simple
When I lost my job I thought I could go to my bank and speak to them. Isn't that what they say? Don't ignore them, talk to them. Boy was I wrong. I had this absolute maniac assigned to my case who was not willing to do anything but harass, abuse and threaten me over payments I couldn't make. No offer of hardship. The worst customer service I have ever had. Even had an agent rock up at my house and threaten my 14 year old brother. Quick to lend the money, not as quick to help people who are in financial difficulty. To this day, not even a letter of apology. Avoid them like the plague.
Threatening, harassing, no customer service.
Too slow and too many irrelevent questions just to get a Loan
Been with Peoples choice for years and had various loans throughout that time. How ever" I was dissapointed and amazed in the extend of questions I had to go through in order to even get an Over draft of $1,000
I was aked totally irrelevent questions as to what my future finincial goal was e.t.c amongst a few other irrelevent questions especially considering they have years of me on files showing my being a reliable Client!! Then it was time just recently to get a Car Loan . It took them too long and more questions on top of what i already had...
Low interest rate - what more could you ask for
They had the lowest interest rate in a personal loan I could find. That was July 2011. I borrowed $15,000 at 8.42% over 5 years. No monthly fees, no early exit fees. There was a $195 setup fee and an $8.80 REVS fee (whatever that is). Everything was organised by email. My experience was slick, simple, straightforward to organise, and the staff were helpful. My $10,000 car was to be security. Very impressed with the interest rate, which is not much above home loan rates; certainly much better than personal loan rates from other finance co...mpanies. The loan was for the purchase of solar panels and to clear a credit card debt. I had earlier enquired with GE, and they were happy to provide me a loan at 14.99%. I was happy they could loan me the funds but I was unhappy with the rate. I then tried IMB and they too could provide a loan at 12.99%. I tried St George and they could help me out at 10.99%. At this point I thought I was wasting my time; no one was going to beat 8.42% and some would only reduce the rate if I was borrowing against a car. As the funds were not for a car purchase they insisted on their higher interest rates. Australian Central Savings & Loans now have a new name: People’s Choice Credit Union. I jumped at the chance at such a low interest rate. Their application form was long, but so are a lot of others. My application was responded to quickly. There were some follow up requests: documents, identity checks. But they all do that. What this crowd did, was attend to everything quickly. Low interst rate of 8.42%, fast from application to approval, answered all my questions along the way. No branches in the ACT, but with internet banking maybe not such a big deal
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