Lake Michigan Credit Union

They say there is no fees and if you do not agree to use over draft they still will do it and charge you fees and over draft. They will steal your money.

I used to LOVE LMCU, but my relationship with them is getting sour. I've used them for about 15 years now.

Last year, I took out two car loans. One for myself, and one for my son who purchased my old car after he graduated from college. I set up the loans to automatically make payments from my (and my son's) checking accounts.

Fast forward a few months, and I just opened my LMCU car loan account in the customer portal because my payment didn't process on the day it was supposed to. To my suprise, the credit union had been charging me $45/month for life and disability insurance with LMCU as the beneficiary.

To be clear, this insurance is OPTIONAL. The agent didn't tell me they had added it to my loan at closing. They simply checked a small box on one of the dozen forms I had to e-sign.

This happened to BOTH my loan and my sons loans. Not only did the sneak the insurance into my loan package, they charged me 10x the going rate for term life insurance. I only borrowed 17 grand, and they were charging me $45/month. For that price, I can get nearly 400k of term insurance.

Despite this, I am still giving them two stars, because the rates they have given me historically on my loans, and the interest they pay me on deposits, beats any other local bank... But shame on LMCU for these deceptive money grabs.

Our mortgage with LMCU has been a disappointment from the beginning--we wanted to use a local business. My wife and I both have accounts at LMCU, but the mortgage payment has always been from mine. When LMCU upgraded their online banking, access to the mortgage was switched from my account. Both of us would have to take time off from work to talk to someone in person to fix the problem, or submit our account numbers through email--we declined. LMCU just updated their system again and this time, LMCU switched the default account for payments to an account at another bank entirely. I attempted to make two payments against the principal, so now I'll have to contest the bank fees as well.

I received a loan from Lake. Michigan Credit union for a new central air conditioner. It is through a program named Michigan Saves. I would not reccomend any one to do business with them. They are very hard to work with. My payment. was supposed to come directly from my. Credit Union account. Not Lake Michigan Credit Union. They don't admit when something is there fault. So I tried to pay with my debit card. They were. going to charge me 15 dollars processing fee. This is the worst financial institution I have ever been to.

LMCU will steal your money out of your account. They borrow customers money, and refuse to replace it. Do yourself a favor, and keep an eye on how much money you have in this bank.

The absolute worst mortgage refinance experience. I have a credit score of 830 and experienced delay after delay with the underwriting dept. I wasn't looking for a miracle, I just wanted a lower payment. Regardless the end terms ended up being different than what was originally discussed so I decided to terminate the deal. I congratulated LMCU for losing 50k in interest and all my future business. Withdrew my 15k out of checking and closed my account. I've never seen anything like it.

In 2016 I did an Fha loan through Lake Michigan credit union and am high dissatisfied. I frequently heard from the managers that the reason for delay and higher fees than normal is the fault of Fha.

If you are going to buy a home Fha I would not recommend this cu. they are not honest.

Worst experience ever. Was told to leave because of not wearing a mask. The mask is absolutely useless!

I opened an HSA with Lake Michigan Credit Union. The trouble started when I tried to add a beneficiary to my account, a change which, in my case, apparently required multiple forms and additional documentation. As they received each item--sent either by mail or via their cumbersome encrypted email system, because I live in California--they would ask for another. At some point, they began requesting forms or documents I had already sent. When I tried to point this out, even providing the name of the representative who had acknowledged receipt of an item, they insisted that item had not been received. After a month or so of this, I gave up and decided to close my account.

I talked to no less than 3 different representatives about the account closure process and heard slightly different versions from each. Taking into account all versions, I completed and submitted the required forms exactly as instructed, even including a cover letter reiterating the process as it was explained to me and repeating the instructions I had specified in the forms. I received a call from yet another representative explaining that the account could not be closed as requested and describing yet a fourth version of the process.

Finally, a few days after the account was closed, I tried to access it to download my final statement and found it was locked, leaving me without access to a record of the last month of transactions against the account. I called and argued at length with a representative before she finally agreed to send me a transaction history.

LMCU seems disorganized and their representatives poorly trained. Maybe not the best institution to trust with your money.

Really one of the most challenging and antiquated companies to try and do business with. My wife and I have been trying to complete the renovation loan process since July. It's now December and we're still 30 + days out, and on our 3rd appraisal. This is with both of us having 780+ credit scores, and providing all requested document in a timely manor. Strongly suggest you explore other options before proceeding down the path of an LMCU loan.

Good luck, and may your experience for this process be better than ours. Happy holidays