Money is going missing from my credit union account, theft?

johnners2981

Sorry didn't know where to post this thread, this seemed the most suitable forum.

I have a loan with my local credit union and I have a monthly standing order of 270 taking money from my bank account to pay the loan.

My bank statement says that 270 has been taken out each month but after checking my credit union statements only 225 is being paid off of the loan (well about 195 and 30 on interest) for the last 9 months and 270 all the previous months.

I asked the cashier person what was going on and they said they didn't know, they'd tell their supervisor and call me back later.

Where is my 45 euro going? Is it possible an employee is stealing money?

SteelyDanJalapeno

Did you check your bank statement to see if the 270 is still being taken?

johnners2981

yup 270 has been taken from the bank every month even when the credit union was only getting 225 for the last 9 months

dudara

Moved to Banking & Insurance & Pensions

Give the supervisor a chance to call you back with an explanation. Contact them directly yourself if needs be.

Failing that, write a registered letter to the Credit Union, as well as the Irish League of Credit Unions, asking for an explanation. Additionally, credit unions in Ireland are regulated by the Central Bank.

But give them a chance to explain first.

dudara

Faolchu

you said loan and interest, what about shares? have these increased?

you should make an appointment to meet the branch manager of your CU get copies of your bank statements to take with you to show that the money left your bank account on the days in question and then ask him to sho corresponding transaction on their system to sho where it has been allocated to your acocunt.

johnners2981

No shares haven't increased so not sure where the money is going, the cashier checked the account but there was no record of where the other 45euro has gone.
Yeah I better meet the manager to see what's going on

MajorMax

I have a substantial CU loan and I pay back €500 P.M. some of this monthly payment has to go to my shares €50 to be exact, the rest €450 goes against the loan

chris85

MajorMax wrote: »

I have a substantial CU loan and I pay back €500 P.M. some of this monthly payment has to go to my shares €50 to be exact, the rest €450 goes against the loan

looks like the shares thing has been looked at but possibly do you have more than one share account OP?

Otherwise it is very strange.

SteelyDanJalapeno

Print off your bank statement, bring it in to the CU and ask for explanation.

they'll definitely no more than us

johnners2981

Got it sorted, thanks for the responses.

Turns out the extra 45euro was going into another family members account to pay off their loan, however that happened. So no theft occurred, we can trust banking and CU employees again