The Top 7 Financial Institutions in Michigan

The Top 7 Financial Institutions in Michigan

This review will show the best companies in the Michigan financial over the past period. The rating was formed taking into account the customer reviews.

We have selected 7 financial companies in Michigan for the review. The time interval is selected from January 2020 to May 2021.

Jackson National Life Insurance Company

This is a U.S. company that provides annuities for retail investors and fixed income products for institutional investors. The company was founded in 1961 and is based in Michigan. Despite the word “Insurance” in its name, the company no longer offers insurance services. Today, it specializes in multiple annuity options (including fixed, variable, and fixed index annuities) to help Americans in their retirement. Their website also offers useful online education tools. Prices for Jackson’s annuities are ranked slightly below average.

Mercantile Bank

The bank was established in 1997 and is headquartered in Grand Rapids, MI. Merc is the state’s third-largest bank. It has assets in the amount of nearly $3,000,000,000. It serves customers from 49 locations. Their corporate headquarters is listed as: 310 Leonard Street Nw in Grand Rapids Michigan. Deposits in Mercantile Bank of Michigan are insured by FDIC. The bank focuses on commercial lending. It offers a wide range of products and services that can be tailored to each individual: personal accounts, personal card services, personal card services, consumer loans, health savings accounts, online services.

First Federal is an online portal based in Michigan that helps Americans find and get approved for fast loans online. The service works by connecting potential borrowers to the right lenders from their extensive network of trusted US lenders. The referral service is free of charge and accessible 24/7, day and night. You can apply for a loan online in 10-15 minutes from your smartphone, without tiresome queues and paperwork involved. The portal processes applications immediately. All participating lenders are legit and offer competitive rates. To apply for a loan and get money as quickly as possible, you only need a few minutes of your time, proof of identity and income, and a bank account in your name. The entire process is easy, fast and convenient. The referral service is free, and lenders charge no hidden fees. First Federal is ranked as “Highly recommended” on most review websites in 2020-2021.

Flagstar Bank

Flagstar Bank is a subsidiary of Flagstar Bancorp. It was established in 1987 as a federal savings bank. Today, Flagstar is the third-largest savings bank in the country. It serves Americans from 160 branches in Michigan, California, Indiana, Michigan, Ohio, and Wisconsin. It has a vast ATM network and provides a considerable number of products and services for consumers and businesses: deposit accounts, health savings accounts (HSAs), education accounts, individual retirement accounts (IRAs), mortgages, wealth management services, estate planning, income tax services, and more. Today Flagstar has assets of over $18 billion. The bank is also known for its special CRA mortgage programs, grant programs and down payment assistance.

Chemical Bank

Chemical Bank was founded in 1917. Today, this is the largest bank headquartered and operating in Michigan. Their corporate headquarters is listed as: 333 West Fort Street, Suite 100 in Detroit Michigan. It has over 200 branches in three states: Michigan, Indiana and Ohio. The bank offers plenty of personal banking options, including IRA accounts, checking and savings accounts, CDs, money markets, loans, mortgages, credit cards, digital banking, trusts & estates, investment services, lines of credit, etc. Unfortunately, Chemical Bank doesn’t allow l to open accounts online. Also, the bank offers a wide range of various financial educational tools on its website and in its branches.

Ally Bank

Ally Bank is a well-known online bank with strong rates and robust 24/7 customer service. It was founded in 2009 and is headquartered in Sandy, Utah. Ally has offices across the U.S., including in Michigan. Being a digital bank, Ally offers higher rates and lower fees than many brick-and-mortar institutions. It offers an array of deposit products, loans and services: checking, savings, money market, certificate of deposit (CD) accounts, mortgages, auto loans, personal loans, investing and retirement services. The company lets customers access more than 43,000 ATMs through the Allpoint network. Ally is one of the largest auto financing companies in the US.

Zeal Credit Union

Zeal Credit Union is a non-profit company headquartered in Livonia and is the 25th largest credit union in Michigan. It is also the 488th largest credit union in the United States. It was founded in 1954. They offer better interest rates, lower fees and reduced cost products and services, including personal checking, personal savings, credit cards, mortgage and home equity loans, IRAs, auto loans, personal loans, online banking, etc. Zeal Credit Union has an A+ health rating. Everyone can become a member of Zeal Credit Union by paying a one-time membership fee ($2) to CSI Support and Development Services.