CommonWealth One Federal Credit Union - Alexandria, Virginia

lexispoon0203

Do NOT go with them. FOR ANYTHING! I transferred money into a savings account just for them to take it. They added $3,000 to my car loan because “I didn’t haven insurance” when I had sent my insurance into them THREE times. I will now be calling them later today to figure out why they drained my savings account and refinancing my car loan with someone else. They are horrible!

Corey I.

With the vast majority of Credit union to choose from, this would be my last choice when it comes to the benefits and interests rates for those who have an exceptional credit rating. Based on my personal experience, where I was offered the highest available credit limit on one of their products at an interest of 13% (still not the best offer made to me by another credit union) which moved them to front of my options when deciding to use a credit line. However, in less than a week's time, I go back to check the interest rate prior to executing a large financial transaction and discovered that the interest rate had jumped to (17) seventeen percent. The Fed had not raised interest rates head increased inches rates, and there was no prime rate increase. When I call to inquire why this change happened in less than a week's time of being given an increase in credit limit, I was told the rate is variable and they can change it at anytime and if I didn't like the rate. I could cancel the line. I won't go into further detail about how I felt to that response. I'll just say that again, there are better financial options then CommonWealth One Federal Credit Union for those of us who have exceptional credit.

Kasie D.

I refinanced my auto loans (two within weeks of each other) due to them having the most competitive rates at the time. The initial refinance process was very antiquated, but I figured since I only had to do that part once it was worth the struggle to save money. Their technology is extremely lacking and if I had it to do over again I would have taken the next lowest rate from a better rated institution. It is ridiculously difficult to set up auto payments, update insurance information, or anything else that should be seemingly easy in 2023. Customer service since day one has been extremely lacking. I do not recommend going with them for loans of any sort.

Hello I. L. N. E.

Stay away from this credit union. Profits first is their mantra. Use of deception to maneuver money from your account to upper management bonus. Conversation with one C level management stated deceit and phishing are perfect and fine tools to trick and trap consumers into extra fees.

Go to Navy Federal CU better management and better ATM network.

Hana N.

Have tried to close my account multiple times ! Paid multiple times to close my account. Experian has notified me my account was closed yet whoever is in the account that is supposed to be closed is still using the account and it’s costing me. I have notified them about the issue yet they don’t care. I have went through multiple lenders in an attempt to close the account. Stay away from here.

Sharolyn B.

Banked with COFCU since 2016 and I closed my account last month due to service. The service is not the same and the bank fails to communicate announcements with its customers. The final straw occured when I was told that I could pick up a new card at the main branch over the phone. Drove 1 hour to the closet branch only to find out that the card printing service was down after waiting 15 business days for a new card.

Roy R.

ts place so bad cus i got shot in my arm also THEY GAVE ME LAXATIVES AHH

Ken S.

Summary: There is a significant disconnect between information given by customer service staff and loan officers in regard to auto loan terms and conditions

Details: I recently applied for an automotive loan with CommonWealth One to cover the purchase of a vehicle. I unfortunately had negative equity on the vehicle I was trading in and was told by the customer service representative that I was pre-approved for a 72 month loan that would cover both the purchase of my new vehicle and the negative equity from my other vehicle. I confirmed this several times with CommonWealth One staff throughout the loan application process. On the day of the vehicle purchase, I was suddenly informed by their loan officer that they their loans do not cover negative equity and will only accommodate up to a 60 month loan on the vehicle as opposed to the 72 month loan that was promised to me throughout the process.

Based on this experience there is a very clear disconnect between what the customer service staff tell prospective applicants versus what is actually being offered by the loan officers themselves. Although I am a big proponent of financing cars through your local credit union, this experience has unfortunately made me very skeptical about applying for any future loans with CommonWealth One.