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I have been a customer for 13 years. I was getting 6 1/2 % on $25,000 for my reward checking until 2010 and they went down to 2% I think and I went to Lake Michigan. Was always disappointed in their CD rates. In Dec I sent a Roth to them to have it transferred to a higher rate at a different credit union waiting a few days for the rate to go up. I had to split it. They matched the rate I was going to get for the other half. They now are having some short term CD's over 5%. I gave them the site of deposit accounts and the manager said she would sure share it with corporate. I do have great service from them. I was just there yesterday to make a deposit of some cash and checks I had. I put them in my savings that pays I think 4% but I can't have any more interest this year because of the high interest rates that Ken finds for us and because of IRMAA and I try to convert some to a Roth each year without my Medicare premium going up 2 years from now. The customer service people on the phone are knowledgeable and very helpful with any needs you may have. I did live near their corporate office but now live about an hour away and they have always have had good customer service in the branch and on the phone. In fact even though I worked at a bank for 30 years I would tell people about Ken's site and also bring some of the older customers to this town to open an account if the institutions paid more interest. I always came to this town to shop and they have to spend the day with me as I got my errands and shopping done. If there is a problem you let corporate know about it and you will get a phone call. I had a hard time wiring a large amount in Dec. because everyone that could approve it was on vacation, had a personal day, in meetings or had a sick child and several other reasons. I stayed in line and the people were lined up to the door and I would not take a seat. I am hoping that the customers waiting made a phone call also or emailed. The people working even missed their lunch hour. That is corporates problem not the people working there. The person trying to help me were patient, trying to call offices out of state even to get permission for my wire. Corporate has changed their policy I heard yesterday when making my
deposit. I don't have to go in there often. After my complaint corporate called me and I told them it was corporates job to make sure they had a policy to have the people that have to make decisions covered when they are out of the office for any reason. I would not change my reward checking account or even my savings account and I even have a large Roth CD with them now after they matched one of Ken's rates he had on his site.
They even let me open a free checking account with my two children who each have a pack of checks so that when I gift them the first of the year, I let them know how much they can write a check to themselves. It took 7 weeks for the mail to get that check 1,000 miles one year and now it is no problem.
This bank has extremely low quality communication and notification with their customers.
I learned today by letter from LMCU, that my checking account had been overdrawn for several months. This was certainly my mistake and yet I was under the impression I was carrying a low balance and my account was just inactive.
I looked in my email and found just one notification and that notification was several months after the account had been in overdrawn status.
Because of my mistake my credit has been damaged severely and it's my problem to fix that and so I say to you beware of Lake Michigan credit Union they do not have the same type of customer service that you would find at Chase or any full service Bank who would definitely email and call and ring every thing warning Bell they could find so that you could rectify the situation.
LMCU denied me-- they aren't doing just a soft pull either. They are using a Chex System like service too.
There was something going on at mint and for 7-8 accounts I had to click on something and log into the bank or credit unions account to update
Except LMCU would not update without me reentering my password
I don't know my password as it's in my browser
Change my password, easy enough, right? WRONG
They make it very very difficult so I said SCREW IT
I will just close the account if I can't update at mint without a new long convoluted password
My password at my broker for probably 20 years was 4 digits
Then a year or so ago they made me change it to 6
It does NOT have to include capital letters and symbols and all that crap and I have decided I just don't need banks or credit unions that insist on that crap
So screw it- I tried to close my account which had $5.01 in it
Easy right? NO
Went thru 3 reps who all insisted they needed something IN WRITING that I had to send them
I don't use a smart phone or a printer and I don't have stamps
So I got fed up & filed a BBB complaint- a 4th rep called and said she was sending a check
The BBB complaint sent me an email that lmcu had responded but for privacy reasons I was not allowed to see their response
And they wanted me to click yes or not it was resolved???
The response to my complaint is SO SECRET that I can't see it
And the BBB has the gall to ask me if my complaint has been resolved
LOL
I guess I am just at the age where when in doubt close the damn account rather than wait years for a product that I will use
Mint is like a safety net- if there is an issue mint alerts me- like I had a fraudulent overdraft at one cu
And I would not have known if mint hadn't told me
At least on a timely basis
When I was young I had $25 or $50 in a s&l that I heard was closing
So I went down to get my money
They said there was no money- they added fees and took it below zero and they said i owed them
I raised cane and got my money but months later I found out I was on chexsystems and when I tried to open an account at a local bank she could not do it because of that
But I could come in the next day and the manager might do it
He asked what happened and I told him
(They never notified me of any fees or the ChexSystems and back then there was no way to dispute it)
So I don't want something like that to happen again which is why I want all my accounts on mint
Except penfed and I should probably close it too
The upper limit for their Max Checking is a bit low ($15K); IMHO.
As others already stated, there are few means to get the fund into their checking; BillPay seems to be the only efficient way. They really should offer external ACH pull from/push to other FIs.
The phone rep I spoke with was very friendly and helpful and gave a great first impression. However, that proved to be irrelevant for me, as they do not allow account holders in California for some reason. No, not just about the qualification options -- I can still sign up for the organization listed to qualify. But as as long as I live in CA, I can't have an account anyway.
Warning to those considering LMCU for financing a mortgage: reconsider! LMCU has singlehandedly and carelessly destroyed our carefully coordinated plans for moving & closing. When we started the mortgage process, we had a closing date of 5/13. This did not change, until LMCU dropped the ball.
We coordinated a number of services on day of close to be done prior to our movers bringing our belongings: cable and internet hookup, someone to run a gas line for gas stove, delivery and installation of 3 appliances, and someone to drill a hole for water filtration system in our granite countertops. The morning after close, we coordinated our movers.
36 hours before our appointment to close, LMCU informed our realtor that we’d have to push back the date of closing, by one day. To add insult to injury, our LMCU loan officer didn’t even notify us, our realtor had to. LMCU then had the audacity to expect us to pay $175 for a notary to meet us to finalize the closing in another location since they changed the closing date 36 hours before our appointment.
My husband and I have been members at LMCU for 5 years, and this is our second mortgage with them. We expected more. We will NEVER entrust our stability and plans with LMCU again, nor will we trust LMCU with our money or our livelihood moving forward. Their core philosophy: “It has always been about doing what’s best and right for our members. It guides everything we do.” It is evident on upon our recent interaction, that this is on no way, the philosophy by which they do business; and if I’d known how little they would care about the impact his has on our situation, the lack of respect to even communicate it to us directly, and the refusal to assume any responsibility for the cost of the notary, we would have looked elsewhere. Consider yourselves warned.
To be specific, don't go to them for mortgage services.
Communication is terrible, they won't pay your taxes on time, and they'll lose your escrow money. still trying to get a straight answer on were $1300 went.
Add on higher interest rates and its just not worth it.
Overall terrible experience. Tempted to switch banks completely.
The most unfriendly teller I have ever talked to in my 63 years on this earth. My wife will close this account
I wish i had read reviews before depositing my money. I see now that they had a higher number of 1 ratings more than 5 ratings. I am moving my account to another institution after just a few weeks. The customer representative was very friendly and helpful at first. We realized that we both had an appreciation for puns and was told if I found one that struck me funny to send to her email. I did and received a frosty email saying that her email was to be used for business purposes only. I was understandably puzzled and hoped to discuss things because the situation made me feel uncomfortable. My calls and emails the were not returned. I was told the branch manager would explain things. She did not respond until I had made numerous attempts to talk with her. At this point, I felt like my business was not welcome for reasons I couldn't fathom. I was finally called by the manager who suggest that I work with her and no longer with the representative who opened my account. I felt quite uncomfortable. I addition, I had problems navigating my account on the computer due to confusing directions. Reaching different departments was difficult due some sloppy phone work. What started out as a pleasant experience tuned sour for reason I never quite understood. The whole experience made me feel unwelcome.