Breakwater Credit Union Houghton MI | Affordable Vehicle Loans & Low Mortgage Rates

Introduction

Welcome to Breakwater, where community and finance meet. Located at 700 E Sharon Ave, Houghton, MI 49931, our credit union has proudly served our members since 1952. With over 10,388 members benefiting from our services, we strive to create a welcoming environment that prioritizes your financial well-being. At Breakwater, we understand the importance of trust and transparency in banking. Our total assets stand at an impressive $123,243,825, ensuring that your finances are in safe hands. We offer a range of services tailored to meet the diverse needs of our members, including personal banking options like checking and savings accounts, auto loans, and credit cards with rewards. Under the leadership of CEO Paula Megowen and Board President Karl Benda, our dedicated team of 28 employees is committed to providing exceptional service every day. We believe in empowering our members through education and support, helping you make informed decisions about your financial future. For your convenience, we offer both online and mobile banking options, along with access to ATMs and drive-thru services. If you need assistance or have questions, feel free to reach out to us at 906-482-5005. While members can visit us at our branch location, official correspondence should be sent to the same address: 700 E Sharon Ave, Houghton, MI 49931-1618. Join us today at Breakwater where your financial journey begins! Visit our website at Breakwater FCU for more information on how we can serve you better.

Branch History & Mission

At Breakwater, we take pride in our rich history and unwavering commitment to the community of Houghton, MI. Established in 1952, our branch has grown alongside its members, evolving into a trusted financial institution that serves over 10,000 members. Our address at 700 E Sharon Ave places us right in the heart of Houghton, a city known for its vibrant community spirit and beautiful surroundings. From our humble beginnings, Breakwater has become a significant player in the local financial landscape. With total assets reaching an impressive $123,243,825, we have continuously expanded our services to meet the changing needs of our members. Our mission is simple yet powerful: to provide accessible and affordable financial services while fostering a strong sense of community. We believe that when our members thrive, so does our community. Our operating hours are designed to accommodate your busy schedule Monday through Thursday from 7:30 AM until 5:30 PM, Friday until 6:00 PM, and Saturday from 9:00 AM until 1:00 PM. Whether you visit us for personal banking services like checking and savings accounts or loans for vehicles and mortgages, we're here to assist you every step of the way. Breakwater is not just about transactions; it's about building relationships. We offer essential features such as ATM availability and drive-thru banking for your convenience. Additionally, we are dedicated to embracing technology with online banking options that allow you to manage your finances from anywhere. While members can visit us at 700 E Sharon Ave Houghton Mi 49931, official correspondence should be sent to 700 E Sharon Ave, Houghton, MI 49931-1618. We value open communication; feel free to reach out at (906) 482-5005 if you have any questions or need assistance. As part of our mission to support the community, Breakwater actively engages in outreach efforts that strengthen local ties. We understand that our role goes beyond providing financial services; we strive to uplift those around us by partnering with local organizations and participating in community events. Join us at Breakwater and experience firsthand how we combine financial expertise with a genuine passion for helping our members succeed. Together, let's build a brighter future for Houghton!

Branch Location & Accessibility

Getting Here and Parking

Our branch is situated in a bustling area of Houghton, surrounded by local shops and dining options. Ample parking is available for your convenience, so you won't have to worry about finding a space when you visit us. Plus, we are committed to accessibility; our facility meets ADA standards, ensuring that everyone can navigate comfortably.

Operating Hours

We understand that your time is valuable. That's why we offer flexible operating hours! Visit us Monday through Thursday from 7:30 AM to 5:30 PM, Friday from 7:30 AM until 6:00 PM, and Saturday from 9:00 AM until 1:00 PM. With these hours, we hope to accommodate your busy schedule.

Services Offered

At Breakwater, we provide a range of personal banking services tailored to meet your needs. From checking and savings accounts to auto loans and credit cards with rewards, we've got you covered. Our drive-thru service allows for quick transactions like deposits and withdrawals without leaving your vehicle. Additionally, if you're looking for cash on the go, our ATM is available for your convenience. While members can visit us at 700 E Sharon Ave for all their banking needs, official correspondence should be sent to the same address as well. If you have any questions or need assistance, feel free to call us at (906) 482-5005.

We’re Here for You!

We invite you to stop by the Breakwater branch today and experience our welcoming atmosphere firsthand. Our team is ready to assist you with any financial needs or questions you may have. Come see how we can help make your banking experience enjoyable!

Member Eligibility

Becoming a member of Breakwater is like stepping into a welcoming community where your financial well-being comes first. If you're looking to join us, you'll be glad to know that membership is open to anyone who lives, works, worships, or attends school in Houghton County and nearby areas. We believe in making banking accessible for everyone, and we encourage you to explore the benefits that come with being part of our family. From personalized service to competitive rates on loans and accounts, Breakwater is committed to supporting your financial journey. For more detailed information about eligibility requirements, please visit our website at https://www.breakwaterfcu.org/bank/membership/. When you're ready to open an account, we've made the process simple and straightforward. You can easily get started by checking out the account opening details available here: https://www.breakwaterfcu.org/bank/new-account-resources/. If you have any questions or need assistance, feel free to give us a call at (906) 482-5005. We're excited to welcome you to Breakwater, located at 700 E Sharon Ave Houghton Mi 49931, where your membership truly matters!

Business Banking & Commercial Services

Business Loan Options

Imagine needing to expand your operations or upgrade your equipment. With our commercial lending programs, you can achieve those goals. Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $0 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $0 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses.

Merchant Services

In today's fast-paced market, having efficient payment processing can set your business apart. At Breakwater, we offer merchant services designed to simplify transactions for you and your customers. Whether you're a retail store or a service provider, our solutions help streamline payments, allowing you to focus on what truly matters growing your business. Visit us at 700 E Sharon Ave Houghton Mi 49931 or call us at (906) 482-5005 to learn more about how our Business Banking & Commercial Services can support your ambitions.

Comprehensive List Of Services

ATM Access & Drive-Thru Services

For those days when you need cash quickly, our ATM services are available for withdrawals and balance checks. Plus, enjoy the convenience of our drive-thru banking, where basic transactions like deposits and withdrawals can be completed without leaving your vehicle. No matter what financial service you need, Breakwater is committed to making banking accessible and straightforward for everyone in our community. Our team is ready to assist you with any questions or concerns you may have. If you're interested in learning more about how we can serve you better or want to explore any of these services further, feel free to reach out at (906) 482-5005 or visit us at our branch! Let's work together towards achieving your financial dreams!

Business Banking Services

For small business owners, we provide comprehensive business banking services including merchant services and business loans. We understand the challenges of running a business and aim to support you with the right tools and resources for success.

Convenient Digital Banking

In today's fast-paced world, convenience matters. That's why we offer robust online and mobile banking services that let you manage your finances anytime, anywhere. With features like person-to-person payments, easy access to account statements, and mobile payment options, managing your money has never been easier.

Credit Cards and Rewards

Looking for a credit card that rewards you? Our credit cards with rewards allow you to earn points on every purchase, making it easier to treat yourself while managing your expenses responsibly.

Personal Banking Solutions

Our personal banking options include everything from checking and savings accounts that help you manage your everyday finances, to tailored personal loans and debt consolidation solutions. We understand that life can be unpredictable, which is why we offer flexible options to support your financial journey. For those considering homeownership or refinancing their current mortgage, our competitive mortgage loans make it easier than ever to achieve your goals.

Vehicle Financing

If you're in the market for a new car, our auto loans and vehicle financing options come with attractive rates and terms. Imagine driving away in your dream vehicle with manageable monthly payments that fit your budget. At Breakwater, we strive to make this a reality for all our members.

Digital & Online Banking

At Breakwater, we understand that managing your finances should be as easy and secure as possible. Our digital and online banking services are designed to give you the freedom to bank whenever and wherever you want. With 24/7 access to your accounts, you can stay on top of your finances without the hassle of traditional banking hours. One of the standout features is our user-friendly online banking platform, which you can explore at https://www.breakwaterfcu.org/. Here, you can view your account balances, transfer money, pay bills, and even set up e-statements for quick and easy access to your financial documents. Plus, with electronic signature authorization available, signing documents has never been simpler or more secure. For those who love the convenience of mobile payments, we've got you covered! You can make payments right from your smartphone, making everyday transactions quick and easy. While we currently do not offer a dedicated mobile application, our website is fully optimized for mobile use, so you can manage your accounts on the go without missing a beat. Need to send money to a friend? With our person-to-person transfer feature, sending funds is a breeze. It's perfect for splitting bills or sending a little extra cash when someone needs it. Security is at the forefront of our digital services. We prioritize your safety with robust security measures in place to protect your information while you bank online. You can rest assured knowing that your personal data is safe with us. Experience the convenience of banking at your fingertips with Breakwater's online services today! Whether it's checking balances or transferring funds, we're here to make banking easier for you.

Financial Strength

At Breakwater, financial security is not just a goal it's a promise. Our members count on us for stability, and we take that responsibility seriously. We are proud to share that our financial strength reflects our commitment to serving you effectively and reliably. With a net worth of $14,172,162, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 11.50% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times. Members' savings are secured through $15,734,281 in share certificates, offering stable and rewarding financial growth opportunities. We prioritize our members over traditional banking practices. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. Additionally, with $12,766,632 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. This proactive approach helps us achieve our mission while promoting your financial well-being. Our lending capacity supports your financial goals across various sectors. We have $1,637 in used auto loans and $83,942,578 in total loans and leases available to assist you. Our operational efficiency is reflected in our $751,772, which allows us to continue offering competitive loan rates and solid financial products for our members. At Breakwater, we take pride in having 27 full-time employees and 1 part-time employees ready to serve you with a knowledgeable, committed team. The trust placed in us by our community is evident with a total of 21,443 share accounts reflecting a strong member base. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Breakwater is your trusted partner. Visit us at 700 E Sharon Ave Houghton Mi 49931 or call (906) 482-5005 to learn more about how we can help you achieve your financial goals. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry. We have already issued $17,784,166 in used vehicle loans and $3,589,128 in new vehicle loans to help members get on the road confidently. With flexible terms and competitive rates, financing your next vehicle has never been easier.

Credit Lines

For those looking for extra flexibility in managing their expenses or emergencies, our total credit lines available reach $17,000,000. This feature gives you peace of mind knowing that additional funds are readily accessible when needed. Our dedicated team is here to help you every step of the way and ensure that you find the right loan product for your situation. For more information about our loan offerings or to discuss eligibility options that may be available to you, please contact us at (906) 482-5005. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. Visit us online at Breakwater for more details on how we can support your financial journey!

Mortgage Loans

Thinking about homeownership? Our mortgage options make buying or refinancing simple. We offer Junior Lien 1-4 Family Residential Properties loans totaling $4,267,008, allowing you to secure the home of your dreams with ease. If you're considering refinancing your current mortgage, we also have options available that could save you money.

Unsecured Credit Card Loans

Managing finances effectively is crucial. That's why we also offer flexible terms on unsecured credit card loans. With a total of $1,432,077 in these loans helping members manage their spending and build credit responsibly, our credit cards are designed with your financial health in mind.

Loan Aggregator

Finding the best loan rates can be overwhelming. LendMesh simplifies this process by providing real-time, unbiased comparisons of mortgage, auto, and personal loan rates from verified financial institutions. This ensures that users can easily navigate through various options without feeling lost in a sea of choices. LendMesh prioritizes accuracy and fairness in its loan comparisons. Loan data on LendMesh is sourced directly from banks and credit unions that comply with National Credit Union Administration (NCUA) lending standards, based on the latest results (Source: https://www.ncua.gov). This commitment to using verified data guarantees that users receive reliable and transparent offers. The benefits of using LendMesh are clear. First, verified data means all loan offers come from legitimate financial institutions, ensuring transparency in every comparison. Additionally, LendMesh maintains a strict policy of no sponsored listings; lenders are not prioritized based on paid promotions. This commitment allows users to access truly unbiased results. Furthermore, the platform provides real-time rate comparisons, giving users up-to-date information from multiple institutions. This helps them make informed decisions tailored to their needs. Thousands of users trust LendMesh for their loan comparisons. One satisfied member shared, "LendMesh helped me find a lower mortgage rate in minutes, saving me thousands over the loan term!" Such testimonials underscore the reliability and effectiveness of this tool. Compare real-time loan offers today at LendMesh and find the best rates for your needs. Disclaimer: Loan approvals and interest rates are subject to creditworthiness, income verification, and applicable federal and state regulations. Rates may vary based on financial institution guidelines.

BREAKWATER FEDERAL CREDIT UNION - Houghton, MI

Compare Loan Rates Near You

Loan rates in Houghton, MI (49931)