Credit union makes Putnam County couple millionaires by mistake - 13 WTHR Indianapolis

Credit union makes Putnam County couple millionaires by mistake

Updated:
A mistake on their bank statement made a Putnam Co. couple "millionaires" for a day. A mistake on their bank statement made a Putnam Co. couple "millionaires" for a day.
Ann and Bill Mundy Ann and Bill Mundy
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PUTNAM COUNTY -

What would you do if you discovered a money mistake that added over a million dollars to your bank account?

That's what happened to one couple from Putnam County this month.

Like a lot of senior citizens on fixed incomes, Ann and Bill Mundy live paycheck to paycheck, but find a way to make ends meet.

"We clip them coupons and we stretch them dollars," said Ann.

This month, though, the Mundys discovered they were millionaires - sort of.

"It says that we have $1,115,784 in the bank," said Ann, reading a letter the couple recently received from Forum Credit Union.

That wasn't all the letter said, though.

"It tells us that our house has been paid off, $48,947," read Ann.

"I just told her, something is wrong," said Bill.

When the Mundys called Forum to ask what happened, they were even more surprised.

"She said, 'You don't need to have this kind of money in a regular savings account. You need to take it out and invest it'," Ann said of the conversation on the phone with a representative from the credit union.

Minutes later, though, the Mundy's got a reality check.

"She told my husband that there had been a mistake," explained Ann.

"Anybody can make mistakes, but that's a big one," added Bill.

Forum said they looked into what happened with the Mundy's account. They called it an honest mistake that got complicated.

"It was just a keying error," explained Andy Mattingly.

A keying error that happened a month earlier when the Mundy's sent in a check for their mortgage payment.

"They keyed in a larger amount than what the check was for and paid off the loan and put the excess of that amount into their account," said Mattingly.

The amount was never really there, though.

"We only got to be millionaires for one day," said Ann.

One day where the couple didn't have a mortgage to worry about, either.

"At least we seen it paid off once," said Bill.

Even though it was just on paper.

"It was nice while it lasted," said Bill, laughing.

Nice, the couple said, to think that somehow, they were set for life.

"I'm a dreamer and it doesn't hurt to dream," said Ann.

Now, the Mundys are back in the real world of dinners at home, waiting for their social security checks to come in the mail and asking for the senior discount on a cup of coffee.

Forum sent the Mundys an apology letter and a representative called them and offered to cover their mortgage payment next month for their trouble.

The Mundy's said the incident is a good reminder to seniors or anyone to always check their bank statements for errors.

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