Pioneer Bank & Trust - Belle Fourche

We have a loan for our business with this bank. Since my husband's name was on the signature card, they decided to offset our loan by going into our son's checking account and removed $5,400.00 on Feb. 16, 2011. The funds they removed were for the most part federal school loan monies. The bank went through our son's account and determined that all the school funds had been spent. They did this only after our son had contacted them. It was NOT done prior to the removal of the funds. Which of course is not true. Federal school funding has set the rules as to how the money is to be spent. Not Pioneer Bank and Trust. They did not consult with our son to account for the school loan money and his paycheck funding. They just took the funds, sent both our son and us notice of the removal of the funds by mail. Both the mail sent to us and our son was received at the end of the working day on Friday, Feb. 18, 2011, yet the withdrawal was made on Feb. 16, 2011. In our area it takes 24 hours to have our mail delivered from town to town. Their offices were closed by the time we received and we could not respond until Tue., Feb. 22, 2011. The bank manager, Clay Birkeland, said he went through and determined the school loan money had been spent. Lee Voyles is the vice president that that removed the funds. Clay Birkeland his self said they had no intention of replacing the funds. To top the matter off, they removed funds from our son's account because my husband's name had been placed on the account in case of an emergency where our son could not get his funds. This is the only connection my husband had to the account. His social security number is not on the account and has never deposited money or withdrawn money on this account. "Exercised right to set off aga" was the banks reason for touching our son's account because of the innocent reason my husband's name was connected to the account. Pioneer Bank has no ethics, they stole federal school loan funds, removed all but $54.00 the day after our son deposited his paycheck and left him to live on $54.00 for two weeks and to bounce checks already in the process of being withdrawn. Don't think the word trust in their names has anything to do with the type of business they do. Don't trust them. We have already found out others have experienced the same thing. Just haven't spoke up to them or others.