Srp Federal Credit Union

★★★☆☆
33.5125 -82.0878
Map and Directions to Srp Federal Credit Union

803-278-4851

3830 Washington Rd

Augusta, SC

30907

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About Srp Federal Credit Union

Finance

Finance
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Reviews 1 - 3 of 3.
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I have been a member since the mid 70??s and for most of that time I have been very pleased to be doing business with them. On many levels they are still a good organization. As a member I am supposed to be an owner/investor. Having my need satisfied and helping me help other members satisfy their needs is theoretically what the credit union is about.

Three years ago I got a home loan from the SRP CU. The interest rate was nearly 7% but my closing costs were minimal, about $300 because they were going to keep the mortgage. With interest rates much lower I approached them about refinancing. I was told they were going to sell the mortgage so I would have to pay full closing costs. The estimated closing cost statement showed about $3100 but the line items on the form were confusing, some appeared to be duplicates in part or others, some were cryptic, others were non applicable (I was told they were required to include these items). Also, when I was given a statement to sign stating that they had sold zero mortgages through 2008 the agent told me that she was told that they had to fill out the form this way.

At closing I was given IRS Form 4506-T, which was blank except for my name, SS number, and date. I was told I was required to sign this form or they would not close on the loan. When I asked why I was not told about this when they asked for my other financial information I was told, ??Oh, this is a late disclosure.? I suggest anyone interested research this form.

In the first two and half months after closing I was notified that the servicing my mortgage was transferred to PHH Mortgage Corporation, then that my mortgage had been sold to PHH Mortgage Corporation, and finally, most recently, that my mortgage was sold to Fanny Mae but PHH Mortgage Corporation would continue to service the mortgage.

When I received my coupon book I found listed on the inside cover some of their standard fees as follows:

$10.00*;Loan History
$15.00;Verification of Mortgage
up to$50.00;Return Payment Fee
$10.00;Copy of Loan
up to$17.50;Pay-by-Phone
$15.00*;Amortization Schedule
$5.00-$20.00;Priority Statement Fee
up to$83.00;Lien Release (payoff)
$ 5.00;Duplicate Coupon Book
$20.00;Wire Fee
up to$60.00;Demand (Payoff) Statement Fee

??All fees are subject to change without notice??

*These statements are available on line free of charge. [I have read a review on line by another customer that said if you are over 30 days late with a payment you do not have access to your on line account but I cannot verify this.]

On the front cover of the newsletter sent with my most recent SRP CU statement was an invitation in bold letters to members to refinance their mortgages locally.

It is my experience that other employees of SRP CU know little or nothing about the business of the Mortgage Loan Department.

3
★★★☆☆

I have been a member since the mid 70??s and for most of that time I have been very pleased to be doing business with them. On many levels they are still a good organization. As a member I am supposed to be an owner/investor. Having my need satisfied and helping me help other members satisfy their needs is theoretically what the credit union is about.

Three years ago I got a home loan from the SRP CU. The interest rate was nearly 7% but my closing costs were minimal, about $300 because they were going to keep the mortgage. With interest rates much lower I approached them about refinancing. I was told they were going to sell the mortgage so I would have to pay full closing costs. The estimated closing cost statement showed about $3100 but the line items on the form were confusing, some appeared to be duplicates in part or others, some were cryptic, others were non applicable (I was told they were required to include these items). Also, when I was given a statement to sign stating that they had sold zero mortgages through 2008 the agent told me that she was told that they had to fill out the form this way.

At closing I was given IRS Form 4506-T, which was blank except for my name, SS number, and date. I was told I was required to sign this form or they would not close on the loan. When I asked why I was not told about this when they asked for my other financial information I was told, ??Oh, this is a late disclosure.? I suggest anyone interested research this form.

In the first two and half months after closing I was notified that the servicing my mortgage was transferred to PHH Mortgage Corporation, then that my mortgage had been sold to PHH Mortgage Corporation, and finally, most recently, that my mortgage was sold to Fanny Mae but PHH Mortgage Corporation would continue to service the mortgage.

When I received my coupon book I found listed on the inside cover some of their standard fees as follows:

$10.00*;Loan History
$15.00;Verification of Mortgage
up to$50.00;Return Payment Fee
$10.00;Copy of Loan
up to$17.50;Pay-by-Phone
$15.00*;Amortization Schedule
$5.00-$20.00;Priority Statement Fee
up to$83.00;Lien Release (payoff)
$ 5.00;Duplicate Coupon Book
$20.00;Wire Fee
up to$60.00;Demand (Payoff) Statement Fee

??All fees are subject to change without notice??

*These statements are available on line free of charge. [I have read a review on line by another customer that said if you are over 30 days late with a payment you do not have access to your on line account but I cannot verify this.]

On the front cover of the newsletter sent with my most recent SRP CU statement was an invitation in bold letters to members to refinance their mortgages locally.

It is my experience that other employees of SRP CU know little or nothing about the business of the Mortgage Loan Department.

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I've been a member of SRP Federal Credit Union since 1987. I have ALWAYS received the BEST services from the tellers, from customer service, to the loan department. I also received excellent financial advices. I am more than pleased with my credit union - I say my, because they make me feel a part of the banking institution. I'm always informed of all updates, revisions and the SECURITY provided by my credit union. Thanks for listening to our concerns and asking for our input. Also,thanks for doing the most splendorous job for me and the other SRP Federal Credit Union FAMILY MEMBERS and making it convenient by adding additional branches and ATM locations. Sincerely submitted by: Vickie W. H.

2
★★☆☆☆

I've been a member of SRP Federal Credit Union since 1987. I have ALWAYS received the BEST services from the tellers, from customer service, to the loan department. I also received excellent financial advices. I am more than pleased with my credit union - I say my, because they make me feel a part of the banking institution. I'm always informed of all updates, revisions and the SECURITY provided by my credit union. Thanks for listening to our concerns and asking for our input. Also,thanks for doing the most splendorous job for me and the other SRP Federal Credit Union FAMILY MEMBERS and making it convenient by adding additional branches and ATM locations. Sincerely submitted by: Vickie W. H.

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I was very skeptical at first about chaning from
Bank of America to SRP Federal Credit Union. I have to admit though I have been very impressed. I love the fact that I can go online and check my account at any time. I also love the fact that I can move money from my checking to my savings account. I can even print checks! I do not pay month fees either. This is a wonderful place to do business with!

5
★★★★★

I was very skeptical at first about chaning from
Bank of America to SRP Federal Credit Union. I have to admit though I have been very impressed. I love the fact that I can go online and check my account at any time. I also love the fact that I can move money from my checking to my savings account. I can even print checks! I do not pay month fees either. This is a wonderful place to do business with!

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1 out of 1 people found this review helpful.

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