I have been a loyal member of Ascend Federal Credit Union for 33 years, but due to the negligence of one of their employees who did not know how to properly structure a proof of funds loan situation that should of been held or created a escrow account instead they just gave my money away with no safeguards after I requested safeguards , causing me to suffer a $50,000 loss. Despite clearly explaining my situation and intentions at the time, mistakes were made that resulted in this financial loss. Ascend has shown no accountability and has not conducted a thorough investigation into the matter. They just Deny and Disregard the situation.Coincidentally, the loan officer responsible for this mistake no longer works there, as the Charlotte branch has a high turnover rate and apparently they don’t train the loan officers to well, yet Ascend refuses to take any accountability or correct the situation.
For the most part, I’ve had nothing but positive experiences with Ascend, as I’m from the tullahoma area where ascend is from my grandparents both retired from AEDC and ascend has always been our family bank but this situation has been completely unacceptable. I am extremely disappointed and disgusted by their lack of professionalism. I strongly recommend that anyone considering Ascend avoid entrusting them with significant funds. Perhaps put in some pocket change, but certainly not any real money, as they have proven to be unreliable and untrustworthy. This experience has been incredibly disheartening, especially after decades of loyalty.” This also really crippled my business and financial situation. That’s not the bank I grew to Love and Trust. I will be removing every dime and account I have at ascend and looking for another financial institution that has my best interest and will take accountability when mistakes are made on their part not just shift blame to the customer . I’m no banker I rely on ascends expertise in knowing how to structure a situation and somehow I’m the one who loses my money was stolen from ascend account that had no safeguards on a 60 day 50k proof of funds loan to a person that had no ascend membership but I made them open ascend account as part of the restriction for this 60 day loan. Ascend has really failed me and I’m done after 33 years! I was basically robbed at my bank and through my bank where I felt safe for decades prior.
Claimed loss: $50,000.00
Desired outcome: Take accountability for their employee’s negligence in lack of training or knowing how to structure certain financial transactions. Reimburse my 50k or some type of settlement that can resolve both our needs.
Confidential Information Hidden: This section contains confidential information visible to verified Ascend Federal Credit Union representatives only. If you are affiliated with Ascend Federal Credit Union, please claim your business to access these details.