Trustone Credit Union having a computer meltdown, some people have negative balances

[progree]

2. Still some problems being reported this morning, mostly with direct deposits

Last edited Thu Nov 18, 2021, 01:39 PM - Edit history (1)

but some are still reporting insufficient fee charges.

The "we are experiencing problems" message is still on their Facebook page, ttps://www.facebook.com/TruStoneFinancialCU with 10 new comments this morning,

but there is no longer any message on their web page about any http://ow.ly/aZH350GPTzU ( https://www.trustonefinancial.org ) about any problems.

I'll be going in this morning to a branch because I'm getting desperate about some transfers that to another institution that must be done by mail and must be done by a deadline. I might not be able to talk to someone, but that's life in the Big City.


Aside from the computer problems TRUSTONE SUCKS

As for Trustone before this -- I became a member in March or so through a merger with Firefly Credit U (previously U.S. Federal Credit Union and previous to that any number of other names going back to the NSP Credit U which I joined in the early 80's).

Anyway, they are the Wells Fargo of the Credit Union world. Forget all the crap about how its a member-owned coop and therefore wonderfully wonderful. No, not this outfit.

I went in late October to make a Roth conversion, and the banker didn't know what he was doing, even after consulting someone by email, and scared me to death when at the end of the process said, "your 2021 CONTRIBUTION is (whatever)". Apparently his idea (generic pronouns by the way) was to liquidate my Traditional IRA account and then open a Roth account and count the proceeds of the Traditional IRA account as a CONTRIBUTION to the Roth account.

Oh no, I said, I am not eligible to make a CONTRIBUTION to an IRA of any kind -- one must have EARNED INCOME in order to CONTRIBUTE to an IRA.

After later discussions by phone, I went in to see another banker, who gave me a form that looked like the right form to do a Roth conversion, but by then I was pretty much decided that I have too many accounts in too many places and it was time to end my credit union membership that went all the way back to the early 1980s.

The big issue though was in order to do a Roth conversion, I would have to liquidate my Certificate of Deposit (CD) in my Traditional IRA account which had 2 1/2 years left to run, and if I wanted a CD in my prospective new Roth account, it would be at current interest rates that are nearly 0.5 percentage points lower than on my CD.

The interest rate differential between the current CD and a new CD would be about $200 over the remaining 2 1/2 year life of the current CD.

I made a huge hoo hah about that in phone calls and beyond, with two more appeals, as to me this is a hidden undisclosed fee to do a Roth conversion that was never disclosed to me at any time. But to no avail. "It's just how the system is set up".

I know, what's $200. Just accept and be happy.

Edited to add: The Roth conversion is not something I can do 2 1/2 years from now when the CD matures. It has to be done this year because of a special tax situation I am in this year that I won't be in in the forseeable future.

Edited to add; just checked 10:34 AM -- they put a message on their web page:

"Thank you for your patience during yesterday's Digital Banking maintenance. Accounts will continue to be updated today, so you may see changes to your transaction history"