At Lake Michigan, 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 dedicated to ensuring your financial future is secure and prosperous. With a
net worth of $1,637,578,402, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our
net worth ratio of $1,136 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
$3,248,737,890 in share certificates and
$4,023,291,048 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at
$42,879, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks. With
$1,594,899,679 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our commitment to your success is reflected in our diverse lending options; we currently have
$56,155 in used auto loans and
$11,981,389,651 in total loans and leases to support your financial goals across various sectors. Although our current
net income stands at $0, this reflects our operational efficiency and commitment to providing competitive loan rates along with solid financial products tailored for you. We also take pride in having
1,576 full-time employees and
102 part-time employees dedicated to serving you with a knowledgeable team ready to assist whenever needed. Net Shares (Funds available for lending and investments):
$119,129,434. Total Share and Deposit Accounts:
1,286,000, showing a strong and growing member base that trusts us with their finances. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Lake Michigan is your trusted partner. Visit us at 5664 Prairie Creek Dr Se Caledonia Mi 49316 or call (616) 242-9790 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.
