Frankenmuth Credit Union

Reviews

• ★ ☆ ☆ ☆ ☆
  I was deeply disappointed with this credit union due to what people told me and what I actually experienced. Credit unions are known for lower rates which is true but keep in mind that these are still banking establishments that do not nessesarly have your own needs in mind as they are promoted. I bring this example in a couple of points. To access your online account it is stated that they will take 10 cents out of your account due to long in. My fiance and I both check out backing accounts on the regular due to the nature identity theft as it's known today. We also check our accounts to make sure that bills are properly received. This is also taking in account that the refresh time on the site in low in comparison to other banking sites (for safety reasons I understand) but logging back in costs another 10 cents. It is a low amount initially but can snow ball over the years. This information was listed in the rewards options for basic service but is not in the user term argreement. The second point is the cost of paying 4.95 for paying your bills online per bill. This was not explained well but they do hold this right to billing fees but this means that your paying them to pay your bills. Bigger banks do have their downsides but I would have to pay an extra 30 dollars a month to PAY MY OWN BILLS. The first 15 are free but that does not last long with bills today as many bills are payed through an online service and not through the mail as they once we're a decade and a half ago. We we're also convinced to do a biweekly withdraw from our main account which is worded in a confusing manner and not given before hand as if we will be charged an extra 4.95 per withdraw for our loan there but due to the option wording, that I what I am under the impression they are doing. This could equate to HUNDREDS of dollars in extra fees a year for paying your own bills. We we're offered below 4 % for our loan but with the extra fees we may have been better going to bigger establishments that we have been patrons at for years at a higher interest rate and less fees from previous meetings. I am disappointed in the lack of communication for these practices but will simply have to deal with it as most people do. Credit Unions are still banking establishments that still need your money to run. Being smaller it seems they pass the cost more onto their consumers and patrons. They do have lower rates but depending on the situation PNC, Huntington or even Dort Credit union may have better options. I'm not trying to be harsh but it would have been good practice to know these and I found little information about this in review before signing for this loan. Tl:DR Please do your research. Sometimes a 4.7% loan with no fees is better than a 3.2% loan that will nickel and dime you with fees that will cost your for the length of your potentially 3 to 8 year loan.
  By Nathan Raymond, September 05, 2017
• ★ ★ ★ ★ ★
  Everyone in this office has always been extremely helpful. They are very friendly and willing to work with me. The hours at this location are very convenient for me as I work long hours.
  By Gregory Hutchinson, April 21, 2017

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