Lake Michigan Credit Union in 8635 Collier Boulevard

Customer Reviews about Lake Michigan Credit Union:

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  It says on the door it's open until 5:30. My phone says it's 5:28 and I'm standing at the door, an automatic door, and it won't open. I look in through the glass and see no one working there, although there are cars in the parking lot. I wait around for several minutes until it's after 5:30 and no one comes out. The facilities look really nice though, and the location is great. I opened my account at their other location so this is my first time here.
  By Alex T, July 10, 2017
• ★ ☆ ☆ ☆ ☆
  I am retired, with not much income but substantial assets, both cash and clear real estate. I am attempting to purchase a home in southwest Florida. By the traditional method of qualifying a buyer, my income/debt ratio is insufficient to attain a mortgage. I have a 800+ credit rating and was going to put 70% down on a property. My intent was to sell off a property I owned and pay off this loan, hopefully within months.Several banks told me the only qualifier was the income/debt guideline. A connection of my realtor arranged for a representative of Lake Michigan to contact me. I told him that my income/debt ratio was inadequate. He said, that's OK, the loan would be asset based. (I have enough cash to purchase the property outright. I also have the same amount in free and clear real estate. My wife and I met with their representative and his manager. They assured me the loan would be approved. Their approval encouraged me to put an offer on a property. I paid over $1,000 for a home inspection. The seller began moving out furniture. 5 weeks later, Lake Michigan turned down my loan because my income/debt ratio was insufficient!!! I can only assume their loan officer and his manager are incompetent. The main loan department evidently has little oversight with it's representatives. Lake MIchigan Credit Bureau has little concern for it's customers. Any borrower in a similar situation should be cautious.
  By Ronald Spering, October 20, 2016

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About Lake Michigan Credit Union in Naples