Lake Michigan Credit Union Grand Rapids MI | Low Mortgage Rates & Top Checking Accounts

Introduction

At Lake Michigan Credit Union, we believe in building strong relationships with our members while providing exceptional financial services. Located at 342 Michigan St Ne, Grand Rapids, MI 49503, our branch is dedicated to supporting the community and helping you achieve your financial goals. Since our establishment in 1933, we have grown into a trusted financial partner for over 496,820 members. With total assets exceeding $14.38 billion, we take pride in offering a wide range of services tailored to your needs from personal banking, auto loans, and mortgages to business banking solutions. Our commitment to you is reflected in our impressive $1.22 billion in total deposits and a net worth of $1.64 billion, ensuring we are well-positioned to support your financial journey. While you can visit us at our branch for all your banking needs, please direct any official correspondence to our mailing address: PO Box 2848, Grand Rapids, MI 49501. Under the leadership of CEO Julie Leonard and Board President Gretchen Tellman, our team of 1,678 employees is here to assist you every step of the way. We aim to provide not just financial services but also a sense of community and belonging. Whether you're looking for assistance with a loan or need guidance on saving strategies, we're here for you. Feel free to reach out by calling us at (616) 242-9790, or visit our website at www.lmcu.org for more information on how we can help you thrive financially. Join us today and experience the difference that personalized service makes!

Branch History & Mission

Lake Michigan Credit Union has a rich history that dates back to 1933, when it first opened its doors in Grand Rapids, MI. Since then, we have grown from a small financial institution into one of the largest credit unions in the state, currently serving over 496,000 members with total assets of $14.38 billion. Our branch located at 342 Michigan St NE, Grand Rapids, MI 49503, is not just a place for banking; it's a cornerstone of the community. Our mission is clear: we strive to empower our members by providing personalized financial services while also giving back to the communities we serve. We believe in putting people before profits, ensuring that our members receive the best possible experience whether they are opening a checking account or applying for a mortgage. Through our various services including auto loans, credit cards with rewards, and online banking we aim to meet our members' needs and help them achieve their financial goals. While members can visit us at our branch address, official correspondence should be sent to PO Box 2848, Grand Rapids, MI 49501. Our operating hours make it easy for you to stop by: Monday through Thursday from 9 AM to 5:30 PM, Friday from 9 AM to 6 PM, and Saturday from 9 AM to 1 PM. At Lake Michigan Credit Union, we value innovation and accessibility. Our branch features an ATM for quick transactions and drive-thru banking for those on-the-go. We prioritize ADA compliance so that everyone can access our services comfortably. Community outreach is an essential part of who we are. We partner with local organizations and participate in events aimed at improving the quality of life in Grand Rapids. This commitment extends beyond financial services; it's about creating strong relationships within our community. Join us at Lake Michigan Credit Union and discover how we can support your financial journey. Experience the difference that comes from being part of a member-focused credit union dedicated not only to your financial well-being but also to uplifting the community around us. Together, let's build a brighter future!

Branch Location & Accessibility

Welcome to Lake Michigan, your friendly credit union located at 342 Michigan St NE in the heart of Grand Rapids, MI. We are excited to serve our community from our Medical Mile branch, a location that combines convenience and accessibility for all our members. Nestled near popular landmarks, our branch is easy to find and reach. Whether you're coming from downtown or nearby neighborhoods, you'll appreciate the ample parking available right outside our doors. Plus, we have features like ADA-compliant ramps to ensure everyone can access our services comfortably. Our lobby hours are designed to fit your busy schedule: we're open Monday through Thursday from 9 AM to 5:30 PM, Friday from 9 AM to 6 PM, and Saturday from 9 AM to 1 PM. If you need banking services outside of these hours, don't worry! We also offer convenient ATM access and drive-thru banking for quick transactions like deposits and withdrawals. While members can visit us at 342 Michigan St NE, official correspondence should be sent to PO Box 2848 in Grand Rapids, MI. If you have any questions or need assistance, feel free to give us a call at 616-242-9790. At Lake Michigan, we offer a range of services including personal banking options like checking and savings accounts, auto loans, mortgage loans, credit cards with rewards, and business banking solutions. Our team is here to help you with all your financial needs in a welcoming environment. We invite you to come by and see how we can support your financial journey. Whether you're looking for advice or want to open an account, we're here for you!

Member Eligibility

Becoming a member of Lake Michigan is more than just opening an account; it's about joining a welcoming community that truly cares about your financial well-being. If you're interested in membership, you'll be glad to know that eligibility is designed to be inclusive. Generally, if you live, work, or worship in the local area or have family members who are already part of our credit union, you can easily become a member. This means that whether you're looking for personal banking options, auto loans, or business services, you're in the right place. To get all the details on who qualifies and how to join, you can check out our eligibility page. Opening an account at Lake Michigan is straightforward and hassle-free. With a variety of services tailored to meet your needs and dedicated support from our friendly team, you'll feel right at home. Whether it's getting started with online banking or finding the right loan for your situation, we're here to guide you every step of the way. If you have any questions, don't hesitate to call us at (616) 242-9790. We can't wait to welcome you to our family!

Business Banking & Commercial Services

Business Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $1,454 in commercial loans for our members, helping businesses scale and succeed. - With an outstanding commercial loan portfolio of $1,764,695,201, we continue to drive economic growth by financing new and expanding businesses. Imagine having the funds to purchase new equipment or invest in marketing strategies that attract more customers. Our tailored loans provide the financial flexibility you need to turn your ideas into reality.

Merchant Services

But it doesn't stop at loans. Our merchant services offer practical solutions that simplify daily operations. Picture this: a busy Friday evening where you can effortlessly process payments, allowing you to focus on serving your customers rather than worrying about transaction issues. With our reliable merchant services, you can accept various payment methods seamlessly, giving your customers the convenience they expect. If you're ready to take your business to the next level, visit us at 342 Michigan St Ne Grand Rapids Mi 49503 in Grand Rapids, MI, or reach out at (616) 242-9790. Let's make your business goals a reality together!

Comprehensive List Of Services

ATM and Drive-Thru Services

For quick transactions, our ATM services provide basic cash withdrawal options as well as balance checks. If you prefer face-to-face interactions for simple transactions like deposits or withdrawals, our drive-thru service ensures that you're never far from getting what you need without leaving your car. At Lake Michigan, we believe that banking should be straightforward and accessible for everyone. Whether you're visiting us at 342 Michigan St Ne Grand Rapids Mi 49503 or accessing our services online, we aim to meet your needs efficiently and effectively. Ready to learn more about how we can assist you? Give us a call at (616) 242-9790 or visit us today!

Business Banking

For our business members, we offer comprehensive Business Banking services including merchant services and business loans. We know that running a business is challenging, so we're here to support you with the right tools and resources.

Digital Banking Features

In today's fast-paced world, having access to your finances anytime is crucial. That's why at Lake Michigan, we offer robust online and mobile banking platforms. You can easily check balances, pay bills, and even send money through person-to-person transfers all from the comfort of your smartphone.

Loans and Financing

If you're in need of a vehicle, our Auto Loans & Vehicle Financing services can help you hit the road without breaking the bank. We offer competitive rates and flexible terms to fit your budget. For those dreaming of owning a home, our Mortgage Loans & Refinancing options provide tailored solutions to make homeownership a reality. Additionally, if you're facing unexpected expenses or planning a major purchase, our Personal Loans & Debt Consolidation services can help ease your financial burden. And don't forget about our Credit Cards with Rewards, which allow you to earn points on your everyday purchases perfect for those who enjoy getting something back from their spending.

Personal Banking

Whether you're looking to open a checking or savings account, our Personal Banking options are designed with you in mind. We understand that life can be unpredictable, and having the right accounts can make all the difference. Our accounts come with features like online banking and mobile payments, making it easy for you to manage your finances on the go. Imagine checking your balance or transferring money while waiting for your coffee convenience is key!

Digital & Online Banking

Key Features

Our electronic signature authorization feature makes signing documents simple and secure, allowing you to complete transactions without the hassle of printing or mailing. Plus, enjoy the ease of e-statements; go paperless and access your financial statements online whenever you want. It's not only environmentally friendly but also helps keep your information organized and secure. For those on the go, our mobile application provides all the functionalities of online banking right in your pocket. You can make mobile payments effortlessly, manage your accounts, and even transfer money directly from person to person with just a few taps. Whether you're sharing expenses with friends or paying for services, our person-to-person transfer feature ensures that money moves quickly and safely.

Security & Accessibility

We prioritize your security while making banking accessible. Our systems are designed with top-notch security measures so you can feel confident managing your finances online. And if you ever have questions or need assistance, our team is just a phone call away at (616) 242-9790. In short, at Lake Michigan, we're committed to providing an easy-to-use digital banking experience that puts you in control of your financial journey. Explore all these features today at http://www.lmcu.org and see how simple managing your money can be!

Financial Strength

Commitment to Growth

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 lending capacity supports members' financial goals across various sectors with $56,155 in used auto loans and $11,981,389,651 in total loans and leases.

Member Trust

Total Share and Deposit Accounts: 1,286,000, showing a strong and growing member base that trusts us with their finances. Net Shares available for lending and investments stand at $119,129,434, reinforcing our ability to support your financial journey. 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 342 Michigan St Ne Grand Rapids Mi 49503 or call (616) 242-9790 to learn more about how we can help you achieve your financial goals.

Member-Centric Savings

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.

Operational Efficiency

Our operational efficiency is reflected in our $54,113,412, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 1,576 full-time employees and 102 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Solid Financial Foundation

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 11.36% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $838,829,803 in used vehicle loans and $175,403,814 in new vehicle loans already helping members get on the road. We provide financing options for both new and used vehicles, making it easy for you to find a plan that fits your budget.

Business Financing

For business owners, our outstanding commercial loans totaling $1,764,695,201 provide the capital needed to grow and expand. We believe in supporting local businesses and are dedicated to offering financial solutions that help you thrive. At Lake Michigan, we pride ourselves on transparency and personalized service. If you're interested in refinancing or want more information about eligibility for any of our loan products, don't hesitate to reach out. You can contact us at (616) 242-9790, visit us at our branch located at 342 Michigan St Ne Grand Rapids Mi 49503, Grand Rapids, MI, or explore our website at http://www.lmcu.org. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. Let us help you navigate your financial journey with confidence!

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $716,130,857, make buying or refinancing simple. Whether you're a first-time homebuyer or looking to refinance your current mortgage, our team is here to guide you through the process.

Unsecured Credit Card Loans

We also offer flexible terms on unsecured credit card loans, with a total of $200,170,787 in loans helping members manage their finances effectively. These cards provide an excellent way to cover everyday expenses while enjoying rewards and benefits tailored to your spending habits.

Loan Aggregator

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LAKE MICHIGAN CREDIT UNION - Grand Rapids, MI

Type of Loan Offerings

Student Loans

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