Educational Systems Federal Credit Union

Kyle

Having a Beer while the world burns!
PREMO Member
Apparently if you get a car loan from these people, as my nephew did, they open checkign and savings accounts in your name and charge monthly fees to them.

He was hit for almost $300 months after the loan was paid off when he bought a new truck. When his credit was dinged for a 150 point decline, he started investigating why and learned the cause. A car loan initiated through a local car dealer.

They gave him a load of bull#### that "we open checking and savings accounts for every loan" and told him it was his fault for not knowing and tough #### on the credit impact.

UFB.

So glad I put mine through Navy Fed.

That's about the most creative scam I've heard of in quite a while.
 
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