Summit Credit Union Loans

mkruse88

I have been having issues with Summit Credit Union(Wisconsin). I recently opened mortgage accounts with them and since then trying to add the loans Quicken identifies them as a credit card. I have reached out to the FI but am getting the run around on them taking responsibility to fix it.

Here is the most recent response that I received from them. Can anyone tell me if I am missing something with setting up the accounts or if they are full of BS.

"There is a standard for building Quicken files. When Quicken connects with the username password, it downloads one of these files. The files are built according to a specific version of the standard. Our digital banking is using a version that does not have additional fields for mortgage loans and builds the file with "CREDITLINE," which Quicken reads as a credit card.

I have been in contact with our digital banking developers. They are aware of other, newer versions for building these files. Unfortunately, there isn't a field or configuration on the mortgage that will change this and I don't have an easy workaround.  I will continue to push them to use one of improved versions of the standard."

NotACPA

BULL HOCKEY. They just choose to not use the correct Tags in the QFX/HTML files that they build for download.

mkruse88

That was my same sort of thought. The person I have been emailing seems to want to correct it, I have suggested to move it up management.

UKR

Instead of fighting this windmill or until the bank gets its act together, how about setting up and maintaining the mortgage accounts as Offline mortgage accounts instead?
The scheduled reminder created by the offline setup process has the necessary splits for transfer of principal from checking to mortgage register. Interest and optional escrow are also available in the splits.
Going offline gives you a complete mortgage account register (which is not available when the account is connected for downloading).

mkruse88

@UKR what makes you think I dont do that already. It is frustrating and takes more time to manage it.