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Lake Michigan Credit Union
Nicholas Ewens @nicholas_1275
1 Star Rating
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 $100 more expensive than my current loan, a loan on which I've overpaid countless times, in the amount of the new loan.
Overall unprofessional, the loan officer I spoke with over email had nonsense emails (like she didn't proofread) and asked me the same questions multiple times, some of which were clear as day on my loan application.
I will be pulling my money from this bank and seeking elsewhere.
Lake Michigan Credit Union
5 Star Rating
Free max checking, includes 3% interest (highest in country for checking), no fees, 10$ monthly reimbursement for ATMs, free cashiers check reimbursement as well. Overdraft protection, easy services like bill pay, transfers, online banking. Have used the big banks, Chase, BoA, Capital One, none provided the service, benefits, and insterest that LMCU has provided in rural Michigan. The new rewards credit card is less that half the interest of other major cards, also offering more rewards than most major cards-saves thousands annually in fees/interest! Many thanks to the employees and leadership who have shown the vision to stay one step ahead of the competition so at the same time we the customers benefit financially!
apllied for a credit card because they supposedly had low rates...they lied about pulling my credit...said they had to pull it again and then asked for more information than if i had asked for a mortgage STAY CLEAR OF THIS PLACE...THEY HAVE NO IDEA WHAT THEY ARE DOING!!!
One cannot make this stuff up. I applied for an auto loan 3 weeks ago and after numerous phone calls and several emails the loan officer did not even call me back the Manager finally called me back today after I placed a phone call to them. I asked for a $28,000.00 vehicle loan on a vehicle that is valued in excess of $100,000.00 and was denied and do not have bad credit.
They have violated every Federal Law on the books. This will be proven as I have hired an attorney to deal with their practices. They do the OLD FASHION what is termed as RED LINING like car Insurance companies use to do. They age discriminate / they look down on you where you receive your income. They have violated the TILA ACT, EOCA ACT and they use Discriminatory Practices to deny loans under the guise that you do not qualify.
They had the audacity to question me about two car loans that I took in the past 14 months and told me that is to many. Both loans have been paid off in full well before the term of the loan length one was a 72 month loan and paid off completely in 9 months, the other was a 72 month loan and paid off in 7 months. Never late on any payments in fact early. Never late on my mortgage payment in 22 years. The list goes on and on. I am 62 years old and they told me that I need a co-signer?
I have credit cards that have limits as high as what I asked for. Speaking to the loan manager MS. BARDELL she is very demeaning and very un professional she talks down to a person. She will not let you get a word in during a conversation. Just very condescending. The loan officer Ms. Kelly Higbee is no better constant run around. These people are not professional at all.
I provided all official documents of my income and they still wanted our tax returns with my wife's information that has nothing to do with the loan. Tax returns have no bearing on my qualifications because I am 100% tax exempt from being 100% totally disabled.
I could go on and on about their practices but I will let my attorney address this in the complaint that will be filed within 10 days.
I've been a member for at least 20 yrs and have debated on leaving for the last 5. No overdraft protection, no 24 hour grace period, nothing to offer anyone in a very modernized world. If you use your ATM to make a night deposit it can take up to 6 days for that to process. It's ridiculous, and when you call the bank to discuss a problem then you get treated like a 2-year-old when they use verbiage such as we advise you, we advise, in the future, you were told by the previous rep,.... For instance I'm out of town this morning at the crack of dawn, $1,000 cash in my wallet but no way to deposit this as a pending charge comes through unanticipated for $2.50 and they think they're going to charge me a $30 courtesy fee.... They need to take into consideration the amount of the charge that comes in, versus their courtesy fee charge. And they need to look at the customers accounts, and what kind of money that customer holds if their institution. No I'm done with lmcu I'm not a two year old and these idiots that answer the phone aren't worth my headache or my time. Huntington bank has overdraft protection, a 24-hour grace period and many other perks.
This bank sucks they froze my accounts while I was in another state, a long ways from home. They told me that my social security number belonged to a dead person that was alive way before I was even thought of. Thumbs down for this bank
I started my re-fi with LMCU on December. I was told by my bank not to make a payment because it was in the payoff quote. I sent everything requested twice because they gave me a second loan officer. The worst combination I have ever seen. I called and emailed weekly because they never call back. When they did call back they told me the underwriters were way behind and not to worry. After five months of stringing me along they sent a denial. My credit score is 787. ( Started out at 814). I owe 900 dollars on my car otherwise O debt. 134-month perfect payment history. WHY was I denied? Now after living in my home 20 years I may lose it. I was doing re-fi to lower payment. I have all the delinquent payment money to get current, but now no one will take me because of delinquent payments. LCMU destroyed my life. Never even had the decency to call me in person?
Horrible company.. when they started out, they were great.. really for the members.. now they are just another bank looking for your money.. screwed my family out of the $400 deposit to refi my home.. 6 months later.. still no refi.. 2 months later they contact us and state they cannot go forward, but since they did “so much work” they kept my deposit.. with no refi.. my current credit union took it on and actually gave me a better rate.. LMCU is a joke..