Banking in Metro Detroit (Flint, Troy: mattress, credit, centers)

[Dexterguy]

What is the best bank to bank with in Metro Detroit these days? I was always loyal to Comerica because of it being Detroit-based, but now what. I know that Charter One Bank employs many in the Metro Detroit. Both in Downtown and in Southfield. Any other banks that support Michigan jobs?

[Coldjensens]

We tried a lot of different banks. We ultimately settled on LaSalle and Main Street bank (local bank in Northville and Plymouth). we found that all banks offer competitive rates/accounts etc. What sets them apart is how friendly they are, whether they allow workers to think outside the box, and whether they try to rip off their customers with absurd fees, fines, and other charges.

One thing that we really like about LaSalle is that they notify you if an ATM withdrawal or charge will overdraw your account. Most other banks will nto notify you. They will just overdraw you account and charge you $35 to $100. Even if it is only a dollar.

[Dexterguy]

Is LaSalle Bank now owned by Bank of America, I believe that I heard that on a stock report or something? I try to avoid banking with those MEGA banks B of A, Chase, etc.

[Coldjensens]

That is too bad.
In my experience B of A has the worst customer service that i hae ever encountered. Maybe I shoud try flagstaff, aren't they local?

[Dexterguy]

Originally Posted by Coldjensens

That is too bad.
In my experience B of A has the worst customer service that i hae ever encountered. Maybe I shoud try flagstaff, aren't they local?

Flagstar is based in Troy I believe so that would be a good bank to look into investing in.

[agaarens]

Just to let you know, Flagstar is now the ONLY Michigan-based bank. They have wonderful hours-Mon-Fri 7:30-7:30, Sat 12-4. In-store branches, located inside WalMarts & KMarts are open Sundays in addition to Mon-Saturdays. They are also now beginning to have Traditional Banking Centers open on Sundays in the lobby and drive-up from 12-4 as well. They are probably the friendliest bankers you'll meet as well. I've banked with them since November, and I've never had such a close relationship with my banker before. They match CD rates and if you're "loyal" they add .05% to it to make sure it's higher than any other bank you can find! They also have an 80% customer satisfaction rating-the highest in the state. They offer many free services and even when there is a fee, it's not too much. Have you ever walked into the bank and had your banker open the door for you, walk you out to your car with an umbrella if it's raining? How about being offered cookies and tea and coffee when you come in the door? I would definitely bank with Flagstar out of any of the other banks. I tried banking with Charter One, and I've never been treated so rudely. I was appalled.

Also, F.Y.I. Comerica is now based in Dallas, Texas.

[Dexterguy]

Citizens Bank is based in Flint, I would consider investing with them, but there are no close branches. From what I hear about Flagstar Bank, they are very friendly, hours are great! And it is based right here in Metro Detroit. Flagstar is also building a new branch just a mile away from me, so that will be great! It just shows how Flagstar wants to continue to invest in Michigan, Citizens is also expanding many of it's branches, at least from what I see.

[detshen]

Does anyone know if Flagstar is good for business banking? I'm getting ready to open a small business and I would like to support a Michigan company if services are comparable.

[cardwellave]

Just a slightly off the topic question: what's the difference between using a bank and a credit union? There are quite a few of those locally based (DFCU for one).

[Timm]

Originally Posted by cardwellave

Just a slightly off the topic question: what's the difference between using a bank and a credit union? There are quite a few of those locally based (DFCU for one).

I bank at a credit union in Michigan, and a bank in North Carolina. I see little difference between using them. They keep my money under their mattress and give it to me when I ask. Good enough.

As for the actual differences, here's what wikipedia says:

Originally Posted by wiki

A credit union is a cooperative financial institution that is privately owned and controlled by its members. Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union are the owners of the credit union and they elect their board of directors in a democratic one person-one vote system regardless of the amount of money invested in the credit union.