Lake Michigan Credit Union

Beware! Details of rates & terms not clarified up front plus they try to inject unnecessary insurance policies at closing! Necessary information comes slowly (like answering your questions)

Do not get a mortgage with them unless you enjoy headaches, constant credit disputes, being forced to make extra payments, and working with incompetent staff!!
We have had so many issues with our LMCU mortgage over the last 5 years. They keep incorrectly marking our payments as late, so we are constantly having to submit disputes. Whenever we call, no one can tell us why it was marked late or what is causing the problems. Last year, they failed to communicate that the payment amount changed due to escrow (all the paperwork they sent had the same ampumt listed as the previous year) and then repeatedly marked our payments late since they were short of the full amount. Then they would lock our bank account, causing us to miss other payments. It took 6 months for them to inform us of the changed amount, even though we were on the phone with them multiple times each month, trying to figure out why our accounts were locked and our payments showing late. When they did, they told us we owed $2000 to bring our mortgage current, so we paid it, but they misapplied the payment and told us we had to pay another $2000 because they couldn't fix it. They won't remove the late payments from my credit last year, even though it all stemmed from their errors. They have destroyed my credit score. If it weren't for that and current interest rates, we would refinance with another institution just to be done with LMCU!

The mortgage servicing here is a joke. I bought a house in SC and LMCU apparently bought the loan to act as the servicer. Ever since then I've had issues. I had issues signing up for their separate mortgage portal. I then had issues when they changed this portal a few years later. I'm now experiencing issues again now that they have "consolidated" their websites. When I call the number for tech support, trying to get registered for the 3rd time, I'm then sent to the the mortgaging center where there is another phone tree and separate wait. Clearly these are not integrated. I also had an issue where my property tax was too high and despite sending them an updated bill from the county, they still charged the higher rate. I called about this several times and was never given a refund. Instead they applied the extra balance to my mortgage principle. If LMCU buys your mortgage, look to refiance as soon as fiscally possible.

LMCU has restricted my checking and savings account for a mortgage tied to these accounts. I am in no way legally tied to this mortgage nor am I obligated to pay it because I am not listed on the mortgage, yet they continue to violate my rights, rather than fix their own issues. My husband and I filed Chapter 7 bankruptcy. The mortgage was not included in the DISCHARGE of debts on our Chapter 7 because we did not file bankruptcy on the mortgage, and agreed to continue paying the payment via autodraft from our checking account. My husband did not sign the Reaffirmation Agreement provided to our attorney by LMCU because our attorney advised against signing it. Now, LMCU is violating Bankruptcy laws by locking us out of our account, essentially restricting all activity, including online banking. They continue to accept our direct deposit of funds, accept the house payment autodraft every month, have never received a late payment, have been informed they are violating Federal Bankruptcy Laws, and yet I have been fighting with them since March 4, 2022. LMCU knows they are violating the law, my attorney has confirmed they are violating the law, yet they continue to do so simply because they can get away with it because we do not have thousands to pay an attorney, obviously. All of this has happened, after they first screwed up our original mortgage by leaving me, THE WIFE, off the deed to the home, which we were not told about until we arrived at CLOSING! Had it not been for the professional office associate at the closing office, we could have really ended up in dire straights! She managed to fix the issue with a QUIT CLAIM signed by both my husband and I. I have lived in MI 51 years, and I've made it a point to bring my business to LMCU, and recommend them to my kids and others. I am totally dismayed by the lack of professionalism, accountability, and overall character of those leading this debacle. Sickened is what I feel thinking of the steps I've taken to remedy the shell wrought by COVID and the despicable actions of those in 'respectable' positions who have the ability to demonstrate character and integrity, and choose NOT TO. What a complete fool I have been thinking LMCU was a homegrown MICHIGAN business I could put my faith and trust in. You are pathetic! There is no excuse for blatantly breaking the law, harassing and beating your customer when they are down, when all we have done is follow the professional advice of a licensed attorney, and believed by following his legal advice we would be protected under U.S. Bankruptcy law. There couldn't be any better example of a homegrown MICHIGAN business embarrassing and harassing their customers than this. I was told that MORTGAGES were not your strength, that you are slow, and not as easy to deal with as others, and I chose to ignore the naysayers and choose you for our MORTGAGE needs,....let me tell you something, at this point I can't get far enough away from you. Your sickening, and I'm ashamed to claim you as a homegrown in my beautiful state of MICHIGAN. You are a lawbreaker, plain and simple, you are no better than those sitting in a cell waiting to see the judge. The only difference is you have the money and power to get away with your crime, yes your crime, your criminals for doing the dirty work of your corporate weasels. It will come back to you.

Very Low Interest rates on SAVINGS Accounts for years.
The fed rate is about 4%, and they still keep their rate on low.!!! I will transfer out to new savings accounts.

i,am one year member my branch is FARMINGTON HILLS MI. it is like working with family . every person i have ever worked with is a super star. they take care of every thing in banking from A----Z . i have moved all my money to LMCU . my car my savings my checking now after a construction loan my new mortgage. i truly care about every person in that branch. one more time FARMINGTON HILLS MICHIGAN BRANCH ALL GREAT PEOPLE !!!! TERRY !

Lake Michigan Credit Union gave us a good rate when shopping for a SUV. Their loan was about 12,000 at the time and our credit was average. Now our Credit is exceptional and we just paid the 2011 Mariner off. This is not showing yet in our credit report because only paid two weeks ago. LMCU gave us a good loan that worked great for us! Thanks Lake Michigan Credit Union.

A credit union that cannot even honor customer privacy under CCPA compliance.

I went to apply for their Max Checking as a California resident but saw that California seemed to be the only state missing from their list of states on the application. I contacted customer service chat and was told:

"Thanks for your patience as I had a moment to read and review your initial message. LMCU is a Michigan chartered institution and our focus is on the states where we have the most members. Our attorneys advise us that complying with Federal and Michigan privacy laws is not consistent with the California Consumer Protection Act (CCPA). We have knowledge of California law commensurate to a very small percentage of our members who have moved to/from there, and we are not comfortable with our systems’ ability to satisfy all CCPA obligations on a member level as we understand them.

In short – our systems are set up to follow Federal and Michigan privacy laws. Until such a time that we and our attorneys are comfortable with our systems ability to comply with CCPA, we are not accepting memberships from individuals who currently reside in CA."

Aka, they cannot even honor the simple basic requirements of CCPA (California privacy laws) for their customers. And they people to trust them with their consumer data and their money??? No thanks!

I strongly urge anyone considering LMCU for their mortgage needs to look elsewhere. Due to an enormously flawed process for selecting home appraisers, they directly cost me tens of thousands of dollars through no fault of my own when purchasing my first home. My experience has given me very little confidence in the integrity or consumer focus of LMCU and, as such, I have also closed all remaining accounts using their consumer banking services as well. I will never be using any of their services again, and I urge anyone reading this to do the same.

I wish I could say that I'm satisfied with this bank, but unfortunately, they've put a really bad taste in my mouth. I've been banking with LMCU since I was 15 (I'm now 24) and have never had any problems until recently.

I recently applied for a car loan that took 3+ weeks to even get answers, all of which were incorrect and misleading. Every person I talked to gave me completely different answers, most of which were wrong.

I currently have (or had, I will be paying off immediately) a car loan from them and have NEVER missed a payment on the car, I actually even paid off a big chunk from where I started 2 years ago. I was intending to buy a new car and pay off the remaining lien I have with them and was looking to apply for a loan before I sold the car, just to make sure I could get approved. I made it very clear from the start that my intention was to sell the car, but wanted to make sure I wasn't going to be without a car since I drive for my job. Since I was skeptical about applying for a loan before selling my current car, I called the loan department to ask questions and got this awesome guy, who answered all my questions with explanations, and made me feel super confident that I would get approved for the loan. I flat out asked him if my student loan and the current auto loan would be used against me, and he told me they won't take either into consideration and would only focus on my other factors, such as credit card debt or rent. Now, I have some credit card debt, but not a ton, and the intention was to sell my current car, pay off some of it, and use the remaining for a down payment on my next one. I left the call feeling pretty confident, as he told me that I should have no cause for denial, even after I gave him approximate #'s of my debt (even went higher than I actually do for that estimate). So I turned around and applied that day, and within the hour, I got transferred around the loan department 3 times to different people before one person took on my case.

I'm a small business owner, and when I sent over my taxes, she basically told me I'm not a business because I don't have the correct forms they were looking for. I'm a sole proprietor with 0 employees, so I file my taxes for my business under a specific document that's only for the one employee I have, which is me. I gave my 2020 tax returns because my accountant hadn't given me my 2021 yet, and was told that I should hold off on going further with my loan application until I get them because I would be denied. But if I gave my 2021, as long as I had a cosigner, I should be approved. I then waited for 3+ weeks for the form and sent it along when I received it from my accountant. They then asked me for more forms than they asked for the first time, and who my cosigner would be. I gave them my mom's name and they told me I should be perfect with her as a cosigner, and they would be in touch to get her information.

This is where it becomes utterly mind-blowing to me. They never asked for my cosigner's information to run her credit report, and instead denied me due to "established credit and pretty good income." I had good enough income to not have a cosigner, but not enough to NOT have a cosigner. I was then told my mom was an invalid cosigner because she's not my spouse or significant other. I do not have a spouse or significant other who is proven to be connected to me on paper, nor do I want to, since my significant other is in the process of buying a house and doesn't need ties to me right now. They then said my debt to income ratio was too high but gave me an incorrect number on the ratio. The ratio still considered my student loan and auto loan, but in the same email told me they didn't. But there was 0 possible way my debt to income ratio was that high of a number if they didn't consider my student debt or auto loan.

Keep in mind, all of this for a loan that was only going to be $100 more expensive than my current loan, a loan on which I've overpaid countless times, in the amount of the new loan.

Overall unprofessional, the loan officer I spoke with over email had nonsense emails (like she didn't proofread) and asked me the same questions multiple times, some of which were clear as day on my loan application.

I will be pulling my money from this bank and seeking elsewhere.