Trustone Credit Union having a computer meltdown, some people have negative balances

[progree]

Last edited Thu Nov 18, 2021, 01:04 AM - Edit history (5)

It apparently started around 10 AM today, November 17. I'm a member, sigh, working on some complicated transfers. I bet it will be hard to talk to anyone there for awhile.

Something like 23 branches -- almost all in the Twin Cities area and a few in Wisconsin.

Edited to add: I think this is a big big deal. In all my decades multiplied by all the financial institutions I've had accounts at, I have NEVER seen anything like this. Yes, sometimes Vanguard's etc. etc. website is down. Sometimes some or all online transactions are not available please try again later.

But for balances to be all screwed up by problems on a mass scale is something I haven't experienced before. I hope when they get it all up and running, that they can put Humpty back together again.

This from the www.trustonefinancial.org web page:

Digital Banking Technical Issues Updated 3:00 pm (edit: 4:00 pm and 5:00 pm updates are the exact same -Progree)
We are currently experiencing technical issues with digital banking. While you should be able to log in, you may experience limited activity.

Some transactions may be posting more than once. Automatic deposits – such as social security – have not yet posted.

We are working to remedy these issues. Please revisit this page for updates.
http://ow.ly/aZH350GPTzU

(Edit: new update 6:35 PM) : Digital Banking is currently unavailable. We are working to resolve this issue and anticipate service will resume at 10:30 pm. We apologize for any inconvenience. (No surprise they finally took the website down. I wonder if "anticipate service will resume at 10:30 pm" means all account balances and so on will be as they should or not, or that we can just stare in horror at what it shows -Progree)
(Edit: at 11:30 PM it says: We are currently experiencing technical issues with digital banking. While you should be able to log in, you may experience limited activity. Some transactions may be posting more than once. Automatic deposits – such as social security – have not yet posted. We are working to remedy these issues. Please revisit this page for updates. (not good to be back to the same message as at 3 PM -Progree) )

A lot of people are reporting negative balances as a result ...

https://www.facebook.com/TruStoneFinancialCU/photos/a.214481908631736/4674097446003471/

Nothing anywhere from Trustone about what might have caused the problem, what might be the timeline to fix things, what will they do about people whose checks bounce because of negative balances. It's just the standard corporado crap -- this one from 346 pm, nearly 6 hours into the meltdown:

"We sincerely apologize for any inconvenience these issues may have caused and we completely understand your frustration. We are working diligently to fix these technical issues and we appreciate your patience."

[progree]

1. 11 PM - Some say their accounts have been fixed, some say still have problems

There were some hopeful updates around 7 PM and 8 PM, though the latest update http://ow.ly/aZH350GPTzU is the same as it was at 3 PM, sigh. But the complaint volume has died down considerably since about 3 hours ago, 118 comments at the moment (yes, I know its getting late at night now).

https://www.facebook.com/TruStoneFinancialCU

I wish there was a way to see the latest comments. The pulldown has "Most Relevant", "Old", and "All" and aren't useful. Some Facebook pages have "Newest" as an option, but they don't work well, when the newest may be in a reply or a reply to a reply and I'm constantly expanding "7 replies", "5 replies" and on and on forever. Either I'm missing something about how to use this beast, or Facebook is really making it hard on purpose (to keep one on-site longer).

I know it's not progressive to use Facebook, but for countless organizations big and small, they use Facebook (and Twitter which I don't use) to post the latest, and let their web page languish into something that's static. And then there are user comments too on Facebook pages that aren't at all on their web pages.

[progree]

2. Still some problems being reported this morning, mostly with direct deposits

Last edited Thu Nov 18, 2021, 12:39 PM - Edit history (1)

but some are still reporting insufficient fee charges.

The "we are experiencing problems" message is still on their Facebook page, ttps://www.facebook.com/TruStoneFinancialCU with 10 new comments this morning,

but there is no longer any message on their web page about any http://ow.ly/aZH350GPTzU ( https://www.trustonefinancial.org ) about any problems.

I'll be going in this morning to a branch because I'm getting desperate about some transfers that to another institution that must be done by mail and must be done by a deadline. I might not be able to talk to someone, but that's life in the Big City.


Aside from the computer problems TRUSTONE SUCKS

As for Trustone before this -- I became a member in March or so through a merger with Firefly Credit U (previously U.S. Federal Credit Union and previous to that any number of other names going back to the NSP Credit U which I joined in the early 80's).

Anyway, they are the Wells Fargo of the Credit Union world. Forget all the crap about how its a member-owned coop and therefore wonderfully wonderful. No, not this outfit.

I went in late October to make a Roth conversion, and the banker didn't know what he was doing, even after consulting someone by email, and scared me to death when at the end of the process said, "your 2021 CONTRIBUTION is (whatever)". Apparently his idea (generic pronouns by the way) was to liquidate my Traditional IRA account and then open a Roth account and count the proceeds of the Traditional IRA account as a CONTRIBUTION to the Roth account.

Oh no, I said, I am not eligible to make a CONTRIBUTION to an IRA of any kind -- one must have EARNED INCOME in order to CONTRIBUTE to an IRA.

After later discussions by phone, I went in to see another banker, who gave me a form that looked like the right form to do a Roth conversion, but by then I was pretty much decided that I have too many accounts in too many places and it was time to end my credit union membership that went all the way back to the early 1980s.

The big issue though was in order to do a Roth conversion, I would have to liquidate my Certificate of Deposit (CD) in my Traditional IRA account which had 2 1/2 years left to run, and if I wanted a CD in my prospective new Roth account, it would be at current interest rates that are nearly 0.5 percentage points lower than on my CD.

The interest rate differential between the current CD and a new CD would be about $200 over the remaining 2 1/2 year life of the current CD.

I made a huge hoo hah about that in phone calls and beyond, with two more appeals, as to me this is a hidden undisclosed fee to do a Roth conversion that was never disclosed to me at any time. But to no avail. "It's just how the system is set up".

I know, what's $200. Just accept and be happy.

Edited to add: The Roth conversion is not something I can do 2 1/2 years from now when the CD matures. It has to be done this year because of a special tax situation I am in this year that I won't be in in the forseeable future.

Edited to add; just checked 10:34 AM -- they put a message on their web page:

"Thank you for your patience during yesterday's Digital Banking maintenance. Accounts will continue to be updated today, so you may see changes to your transaction history"

[geardaddy]

3. I'm also a member

I haven't noticed any issues with my account.