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Hello. I am Mark Barnes, retired disabled veteran and a member of Navy Federal Credit Union for over 35 years. I have had several auto loans with NFCU and paid each and every one of them off. I have gone through some very tough times due to a failed business. In turn my credit score has suffered dramatically. I recently bought a car through Carmax and I was very happy because I was turned down everywhere. My credit score is in the mid 500's. The bad thing is, my interest rate is very high and the lender is known for what is called a rule of 72 or something like that . That means that all my payments go to interest and at the end of the term I will still owe the same balance on my car. <br /> <br /> I recently went into NFCU to get the car refinanced. I bought the car very well. What I mean is, the car is worth more than I paid for it. So that means there is no risk to lend me the money because the lender would be able to re-sell the car to retrieve what is owed. I am an Auto salesman as well. <br /> <br /> I was turned down by NFCU and I was very upset. After 35 years of deposits, paid off loans and faithful membership, all I get in return is &quot;NO! you credit is to bad!&quot; Other banks are willing to finance me but NFCU won't. This is the kind of Thank You! go away we don't need your business anymore, or we don't car that you need help attitude. If the numbers don't work then take a walk! I asked the loan officer to ask for special assistance and to see if they would take this on a case by case basis to help me. When she called, all she did wan accept the rejection by the loan department. <br /> <br /> Cutler Dawson<br /> President/CEO - I would like you to personally get this message. I would like you to look at your paycheck and think about where it comes from. Membership! loyal Membership. Where is the loyalty to the member?. Would the 1000's of members that belong to NFCU agree with your practices? When is it not a good risk when there simply are not risk? <br /> <br /> I hope that my fellow members that have also fallen on bad times read this and send letters as well. All I can say in closing is BAD FORM! Thank you for making me feel like I am a worthless person and for not taking a risk on me when others will. Shame on you and the rest of the board members !


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