Thursday, June 10, 1999

Year 2000 Bug Cited In Credit Union Snafu

Maurice Gray is disciplined enough to save money on a regular basis.

But he's not patient enough to watch his money disappear  and complains that a practice he thought would offer peace of mind has simply created an ongoing headache.

Gray said the problems began when he replaced one account at the Municipal Credit Union in the Bronx with a combination savings account and certificate of deposit.

An employee of NYU Medical Center, he saves $200 from each biweekly paycheck through payroll deductions.

"I received a statement showing that some of the money that should be going to my new accounts went to the old account that was closed. Not only that, some of the money could not be accounted for at all," he said.

Gray said he called the credit union, which serves municipal, health care and federal workers in the five boroughs and parts of Long Island. But he became increasingly frustrated when the problem persisted.

"I keep getting the same old story: They keep saying someone will look into it," he said.

Vincent Miller, vice president of member relations, did. He conceded that a few members, including Gray, have had some problems since the credit union updated its computer system to be year 2000-compliant. "In every situation, we've made every effort to reconcile the difference and do what we can to restore our members' faith in credit unions," he said.

Miller said it just took time to work the kinks out of the new system. He promised that Gray's problem was now resolved: All his money has been deposited to the correct accounts.

Mistakes happen  at credit unions, banks and other institutions. But when they involve your savings, it's important to find them before a rainy day.

(Asa Aarons is a consumer reporter who appears on WNBC-TV, Channel 4, News. His special Daily News column appears Mondays, Tuesdays, Thursdays and Fridays. Send your questions to: Ask Asa, P.O. Box 3310, New York, N.Y. 10116 or e-mail: dnconsumer@aol.com)

Siurce: New York Daily News Online, From: News and Views | BizNews |

http://www.nydailynews.com/1999-06-10/News_and_Views/Media_and_Business/a-31390.asp

-- Lee Maloney (leemaloney@hotmail.com), January 19, 2000