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I co-signed some loans for family taken out at GFA. I've been trying to pay those loans down/off to help them. I'm a little OCD when it comes to numbers. I like to keep account Dollars even if I can, so when I make additional payments to those accounts, I pay enough to round off to a nice even amount. That got me to notice the flaw in GFA's system of transfers. When I transferred a payment from my external account at another institution to the GFA loan, the numbers just didn't add up. Once I looked at the account and clicked the ">" to expand the payment details, I noticed they took out interest in what was suppose to be a "Principal Only" deposit. Within 7 days, during two transfers, they took out $88.16 EXTRA in interest beyond the monthly interest that had already been taken out (See Image). A month earlier they had pulled the same thing, but they had taken out even more within 4 days.

I have spent the last month dealing with GFA, National Credit Union Association, Attorney General... and they seem to just ignore the issue of overdrawing interest.

I tried to get help through the GFA messaging system. It was answered by an arrogant person providing NO help at all. The reply is always. "I do apologize for the inconvenience this has caused. Is there anything else I can help you with today?" No attempt to even find a solution. Good luck getting someone to answer the phones too.

I have contacted the following agencies, but have gotten no help;

- Massachusetts Division of Banks - Told me to Contact NCUA (National Credit Union Association).

- NCUA - Did nothing but send my complaint back to GFA. After numerous emails to NCUA, NCUA never followed up.

- Contacted Massachusetts Attorney General's office. They forwarded the complaint to NCUA.

Wow, seems like a lot of "Passing the Buck".

I usually trust financial institutions to do the math correctly, and allocate the funds properly, but because I like even numbers, I caught this flaw.

I just wonder how many others have made payments via external transfers and had interest stolen too. Or who will have the interest stolen in the future, because from the letter I got saying "As of May 24,2024 we consider this matter to be closed", it seems GFA have no intention of fixing their systems flaw.