Credit Union Reviews

Lake Michigan Credit Union (LMCU)

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used to be great; declining quickly Helpful to 2 out of 2 people

i have been with LMCU for nearly 7 years now. when i first joined, they were awesome. people were nice, friendly and knowledgeable. i never really had any issues with anything. HOWEVER, over the past year things have declined very rapidly. they have reduced their return on both savings and checking. They have changed the way they process transactions; it used to be a nightly batch with deposits THEN widthdrawls and now its the opposite. since they run stuff to encourage overdraft fees, their overdraft fee has nearly doubled in 7 years. all fees have gone up.

I tried to get a home loan through them but it took forever so i dropped it and went with a bank that actually had better customer service. their online chat feature is nice but the people you talk to aren't the most knowledgeable so it just ends up being a waste of time and you have to go into a branch to get whatever you needed.

I have a car loan through them also which was alright. the dealership dealt with them so we didn't have to.

long story short, they used to be great but i am looking for a replacement. once my car loan is paid off, i am dropping them.

Jul 06, 2013 Reply
Horrible Process & Terrible Service Helpful to 1 out of 1 people

I tried to open an account here and they couldn't even get that right. They refused my initial deposit and then closed my application even though they hit my credit report. Now I have nothing to show for it.  Terrible customer service and no attempting to work with me as a potential new customer. Can't imagine how they treat you once they have your money. Stay away!

Mar 21, 2014 Reply
Worsening Helpful to 1 out of 1 people

Customer service is terrible here, service in the past was good but took a turn for the worse. The bank also does not keep good track of paperwork (good thing to keep copies). and some of the policies make absolutely no sense.

Aug 13, 2013 Reply
Helpful to 1 out of 1 people

They gave me a free checking account when my credit was so bad the big banks would not let me open one. They gave me a credit card before anyone else. Online mortage pre-approval was easy, but the communication was not the best. Next time I am going to a branch to meet with a rep. Overall a great place for my money, would never consider going elswhere.

Epochalypse's review was:    

  Jan 20, 2012 Reply

Epochalypse(1, 1)

Review by Epochalypse

1 Contributions 1 People Helped

Helpful to 1 out of 1 people

 I specifically asked when I opened an account at Lake Michigan Credit Union if any check deposits would be put on hold if the amount was  under $500.00. I was told no.  Well, I deposited a check on the 30th of the month for under $500.00 and it was  placed on  hold until the 4th.  I hate being lied to by a business/bank just  to get you to sign up.  I will be cancelling my account and trying another credit union.

Jan 01, 2012 Reply
Worst. Mortgage. Ever

They refuse to take two payments a month for my mortgage.  They will not take the payment out of my checking account.  There appears to be nothing I can do to fix the problem.  They treat me like I'm the only person in the world who wants to pay their mortgage in two monthly payments.  I'm really sick of dealing with them.

Apr 17, 2014 Reply
Avoid LMCU:High Earners Excellent Credit

It was my first experience with a credit card issuer that failed to disclose lending requirements in their advertised terms.  

 It appears they use a low interest credit lines as a carrot to solicit conservative credit worthy individuals. Your credit score is pulled (my case over 820)  to open a savings accounts only, as a prerequisite for a credit line. THEN THEY DISCLOSE THAT CARD IS LIMITED TO $10,000.  Highly credit worthy individuals should steer away from Lake Michigan. This is unethical and a false inducement to sell financial products.

In my opinion my personal financial information in the hands of these clerks is in more risk of misuse than in the hands of hackers

CPA001's review was:    

  Mar 29, 2014 Reply

CPA001(1, 0)

Review by CPA001

1 Contributions 0 People Helped


I currently have my 30 yr mortgage through them and they have made more mistakes in the 2 years I have had my home loan then any other bank I have used in my lifetime. Their sloppy and prone to mistakes, so pay attention to your paperwork. They also say they will take care of something and don't. If you have an option to get a mortgage anywhere else DO IT. 

brittanilarrabee6888's review was:    

  Mar 28, 2013 Reply

brittanilarrabee6888(1, 0)

Review by brittanilarrabee6888

1 Contributions 0 People Helped

Great Local Organization

LMCU is a great local institution that has the majority of the perks that the big banks have including an iPhone App and the ability to deposit checks by photograph. 

I am a Checking and Savings Account customer of over 7 years. 

josepilove's review was:    

  Mar 03, 2013 Reply

josepilove(1, 0)

Review by josepilove

1 Contributions 0 People Helped


application process was very slow (despite pre-approval and excellent credit rating). dealt with too many people who didn't seem to know what the other guy was doing....rates are great, though!...however, in february we got the bill for our home insurance (hazard jnsurance) which had been put in escrow...then we got another bill for the insurance so i paid it as it was already late....called our insurance agent after we finally we received acknowledgement that lmcu had  paid up (10 days after the payment was due)and asked for a refund for the double payment...they were great and said we would have a refund within 2 weeks..but the agent also told us they had to contact lmcu TWICE before they finally paid...and we were about to incur a lapse in coverage!...this is completely uncalled for or perhaps this is policy to increase their interest profits on their customers money....they also took out an extra $53 over and above the insurance payment according to the paperwork they sent us....our agent confirmed they only paid the amount due so now we have to fight with lmcu to get that back....another issue with our account is trying to get the exe's name off the account....took in all the requested paperwork but a year later her mortgage is still on our account...talked to 2 different reps twice about this and still no results...also paid off the car 5 months ago was never sent a release of lien...had to go and get it ....they are still taking the car payment out of our transfer of funds (it is going into our account so we are not losing any money) but aren't they supposed to notify us or our bank about this?...not a word from anyone..we suppose the ex could take the money as her name is still on the account or the funds could be frozen if she misses her mortgage payment...we are going to try and straighten all this out with yet another trip to lmcu...we are getting discouraged by all the ineptitude of the people we are dealing with...they are all very nice but nothing gets choice but to get ugly and make sure they do their job...we're past expecting a timely and courteous response....

Feb 27, 2013 Reply
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Company Overview

Lake Michigan Credit Union (LMCU) is a full-service financial institution offering service to residents of select West Michigan counties. Available financial products include checking, savings, and money market accounts. Also available are auto loans, CDs, credit cards, IRAs, home equity, mortgages, and business banking options. LMCU’s website features various financial tools including calculators, educational articles, and podcasts. Account access is available online and by phone twenty-four hours a day. With these services members can check account balances, transfer funds, pay bills, along with many other options. Customer service is available by email, over the phone, and in thirty-two branch locations.

Founded in 1933, Lake Michigan Credit Union is one of the largest credit unions in Michigan with assets exceeding $2.1 billion. Lake Michigan Credit Union currently serves over 170,000 members in thirty-six counties.

Company Details

Lake Michigan Credit Union

  • Established: 1933
  • Headquarters: Grand Rapids, Michigan
  • Website:
  • Products: Auto Loans, Banking, Credit Cards, Home Equity, Mortgages
  • Assets: $2.1 billion
  • Available: Online, by phone, in branches; Michigan

Rating Distribution (18)

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