Preferred Credit Union Ludington MI | Affordable Auto Loans & Business Banking

Introduction

Welcome to Preferred Credit Union, your trusted financial partner located at 266 N Jebavy Dr, Ludington, MI 49431. Since our establishment in 1968, we've been dedicated to serving our community with integrity and commitment. With a strong membership base of over 24,000 members, we take pride in offering personalized banking solutions tailored to meet your needs. At Preferred Credit Union, we manage total assets of $286,611,290, ensuring that our members have access to the resources they need for a secure financial future. Our diverse range of services includes auto loans, personal loans, mortgages, and business banking options. In fact, we've provided a total of 15,922 loans and leases to help our members achieve their dreams. Our commitment to you goes beyond numbers. Under the leadership of CEO John Yeomans and Board President Russell Herman, we strive to create a welcoming environment where every member feels valued. Whether you're looking for advice on saving for your first home or need assistance with your business finances, our dedicated team is here to guide you every step of the way. While you can visit us at our Ludington branch for all your banking needs, please note that official correspondence should be sent to the same address: 266 N Jebavy Dr, Ludington, MI 49431. We invite you to explore our website at preferredcu.org for more information about our services or simply give us a call at 231-843-1384. Experience the difference of being part of a credit union that truly cares about its members!

Branch History & Mission

Welcome to Preferred, a proud credit union serving the community of Ludington, MI, since 1968. Over the decades, we have grown from a small financial institution into a trusted partner for over 24,000 members. Our journey has been marked by a commitment to providing exceptional service and supporting our members' financial needs. Located at 266 N Jebavy Dr, our branch is easily accessible and surrounded by local landmarks that make it a familiar spot for many residents. Whether you're coming in for personal banking services or just to chat about your financial goals, you'll find our team ready to assist you with a smile. If you need to reach us by mail, please send correspondence to the same address: 266 N Jebavy Dr, Ludington, MI 49431. At Preferred, our mission is simple yet profound: we strive to empower our members through financial education and personalized service. We offer a range of services including checking and savings accounts, auto loans, mortgages, and credit cards with rewards. But what truly sets us apart is our dedication to community support. We believe that when our members succeed, our entire community thrives. As we look back on our history, we are proud of how far we've come growing assets to an impressive $286,611,290 and serving thousands with integrity and care. Our team of 77 dedicated employees works tirelessly to ensure that everyone who walks through our doors feels valued and understood. In addition to traditional banking services, we embrace modern technology with features like online and mobile banking. Our commitment to accessibility includes ADA compliance and services like drive-thru banking for added convenience. Plus, with ATM availability right at the branch, accessing your funds has never been easier. We are also thrilled to offer shared service center options for those who are part of partner credit unions making banking easier for all our members in the region. Join us at Preferred and experience firsthand how we put people before profits. Whether you're looking to open an account or need guidance on your next loan, we're here for you every step of the way. Visit us during our lobby hours from 9:00 AM to 5:00 PM Monday through Friday or drop by on Saturday from 9:00 AM to 12:00 PM for drive-thru services only. Become part of something bigger at Preferred; together we can build a stronger financial future for you and your family! For more information or to start your membership journey today, call us at 231-843-1384 or visit us online at Preferred Credit Union.

Branch Location & Accessibility

Additional Services

At Preferred Credit Union, we offer various services tailored just for you. From checking and savings accounts to auto loans and mortgage options, we have something for everyone. Additionally, our shared service center allows members of partner credit unions to perform basic transactions, making it even easier for you to manage your finances.

Contact Us Today!

If you have any questions or need assistance, feel free to give us a call at 231-843-1384. We invite you to visit us at our Ludington branch or explore our website at Preferred Credit Union for more information about becoming a member and the services we offer. We look forward to serving you!

Convenient Access

Our branch is designed with accessibility in mind, featuring ADA-compliant entrances and parking options to ensure all members can visit us comfortably. Plus, we offer both ATM services and a drive-thru option for those who prefer a quick and convenient way to manage their banking needs. You can easily access your accounts or make deposits without leaving your vehicle!

Operating Hours

We know how busy life can get, which is why our lobby hours are set from 9:00 AM to 5:00 PM, Monday through Friday. If you need to use our drive-thru service, we're here for you on Saturdays from 9:00 AM until noon. Our team is dedicated to making your banking experience as smooth as possible.

Member Eligibility

At Preferred, we believe that everyone deserves a place in our supportive community. If you're looking to join us at our Ludington branch located at 266 N Jebavy Dr Ludington Mi 49431, you'll be pleased to know that membership is open to anyone who lives, works, or worships in the area, along with their family members. This means that whether you're a long-time local or new to the community, you can enjoy the benefits of being part of our credit union family. With services tailored to your needs, like personal banking, auto loans, and credit cards with rewards, becoming a member opens up a world of financial opportunities designed just for you. Getting started is easy! You can check out more details about eligibility by visiting https://preferredcu.org/preferred-banking/become-a-member/. If you're ready to take the next step and open an account, simply follow the instructions at https://loans.itsme247.com/204/home/start/. Should you have any questions or need assistance during the process, don't hesitate to call us at (231) 843-1384. We're here to help you every step of the way as you become part of something special at Preferred!

Business Banking & Commercial Services

Merchant Services That Make a Difference

In addition to loans, our merchant services provide practical benefits that can streamline operations for your business. Imagine having an easy way to accept payments from customers, whether online or in-store. With our services, you can focus on what you do best running your business while we handle the financial transactions securely and efficiently. Located conveniently at 266 N Jebavy Dr Ludington Mi 49431 in Ludington, MI, we're here to partner with you on your journey to success. For more information about how we can support your business, give us a call at (231) 843-1384 or visit us online at https://preferredcu.org/. Let's grow together!

Tailored Business Loan Options

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 $23 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.

Comprehensive List Of Services

Business Banking

For our business members, we provide tailored solutions such as merchant services and business loans that can assist in growing your enterprise. Whether you're just starting out or looking to expand, we're here to support your business journey.

Digital Banking Convenience

In today's fast-paced world, convenience matters. That's why we offer robust online and mobile banking features that let you manage your accounts anytime, anywhere. With options for ATM access and cash withdrawal services, getting cash when you need it is easier than ever. You can also handle deposits and withdrawals through our basic drive-thru banking services perfect for those on the go.

Loans and Credit

At Preferred, we understand that life can sometimes require extra support. That's why we offer personal loans and debt consolidation services to help you manage unexpected expenses or streamline your existing debts. Plus, our credit cards with rewards allow you to earn while you spend an excellent way to make your purchases work harder for you.

Personal Banking

We offer various personal banking options designed to help you achieve your financial goals. Our checking and savings accounts provide a solid foundation for managing your money effectively. Need funds for a new car? Our auto loans and vehicle financing can help get you on the road without breaking the bank. If you're considering buying a home, our mortgage loans and refinancing options ensure that you find the right fit for your budget.

Shared Services

If you're already a member of another credit union, you'll appreciate our basic shared branch transactions, which allow partner credit union members to make deposits and withdrawals effortlessly at our location. At Preferred, we pride ourselves on being more than just a financial institution; we're part of the community. We invite you to visit us at 266 N Jebavy Dr Ludington Mi 49431 or give us a call at (231) 843-1384 to learn more about how we can assist you with all your financial needs. Join us today, and experience the difference of personalized service tailored just for you! Explore all the ways we can help by visiting us online at Ludington. Your financial well-being is our top priority!

Digital & Online Banking

Accessibility and Security

We also provide e-statements for those who want to go paperless, making it easier to keep track of your finances while contributing to a greener planet. With our mobile application available for download, you can manage your accounts on the go whether you're out running errands or relaxing at home. For added convenience, our mobile payments feature lets you make purchases directly from your phone. Plus, rest assured knowing that all our digital services come with robust security measures in place to protect your information. At Preferred, we're committed to making your banking experience as easy and secure as possible. Dive into the world of digital banking today and see how we can help streamline your financial life!

Key Services

Our online banking platform, available at https://preferredcu.org/, allows you to check balances, pay bills, and transfer money with just a few clicks. You can enjoy 24/7 online banking services, ensuring that you have the flexibility to manage your accounts whenever it suits you best. Need to send money quickly? Our person-to-person transfer feature makes it easy to send funds to friends or family without any hassle. Plus, if you prefer handling documents digitally, we offer electronic signature authorization for a smooth and secure process.

Financial Strength

Commitment to Growth

With $34,895,089 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 $3,511 in used auto loans and $150,207,408 in total loans and leases.

Member Trust

We proudly serve 60,161 total share accounts, showcasing a strong and growing member base that trusts us with their finances. Net Shares (funds available for lending and investments): $6,269,696. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Preferred is your trusted partner. Visit us at 266 N Jebavy Dr Ludington Mi 49431 or call (231) 843-1384 to learn more about how we can help you achieve your financial goals.

Operational Efficiency

Our $0 reflects our operational efficiency, enabling us to continue offering competitive loan rates and solid financial products for our members. We take pride in having 77 full-time employees and 0 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Robust Financial Health

With a net worth of $39,556,196, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of $1,380 demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Secure Savings Options

Members' savings are secured through $59,833,293 in share certificates and $47,732,853 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $6,113,000, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Loan Offering

Additional Financing Options

If you're considering expanding your business or need capital for other personal projects, explore our various financing options. We understand that every situation is unique and may require tailored solutions. At Preferred Credit Union, we prioritize transparency and accessibility for our members. If you have questions about refinancing or how to become eligible for our products and services, don't hesitate to ask during your visit or call us directly. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov, based on the latest results. We're committed to providing you with not just loans but also reliable financial advice and support every step of the way.

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $49,069,334 in used vehicle loans and $8,727,860 in new vehicle loans already helping members get on the road. We provide flexible terms and competitive interest rates that fit within your budget.

Credit Card Loans

For those looking to manage their everyday expenses more effectively, we also offer flexible terms on unsecured credit card loans. With a total of $11,582,062 in loans helping members manage their finances effectively, our credit cards come with rewards and low rates tailored to fit your lifestyle.

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $9,591,299, make buying or refinancing simple. We guide you through the process and help you understand your eligibility options so that you can make informed decisions about your future.

Loan Aggregator

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Preferred