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LMCU February 2021 Newsletter

Posted February 1, 2021  |   Topics: Newsletters

Earn more. Pay less. Love Always.

Learn what's happening at LMCU.

Housing trends to watch in 2021.

2020 has been a rough year, but not for the housing market. This past year ended strong and it’s only getting stronger. In Zillow’s 2021 forecast, this year is projected to have the strongest home sales growth since 1983 with 21.9%* annual growth compared to 2020 — that’s a total of 6.9 million homes sold. So if you’re thinking about buying or selling this year, keep these five trends in mind.

The market is heating up.
2021 is expected to reach all-time highs during the spring/summer buying season.** Getting pre-qualified before you find the home of your dreams can give you a leg up on other buyers — letting sellers know you’re serious, and streamlining the process once you’re ready to commit.

Mortgage Rates May Remain Low.
According to an average of forecasts from Fannie Mae, Freddie Mac, the National Association of Realtors, and Mortgage Bankers Association, 30-year fixed rates are expected to average 3.075% in 2021, down from 3.125% in 2020.***

Move over Millennials. GenZ has arrived.
Millennials have kids and may be looking for more space, but they’re no longer dominating the market.** With the oldest of the GenZ generation turning 24, they’ll be a force for years to come.

The one word that can add thousands to your selling price.
With so many people working from home, home listings that feature the word “office” are currently selling at a price-per-squarefoot premium of 3.4%** compared with broader listings.

From city slickers to suburbanites.
3 of every 4 individuals reported an increased willingness to commute or live further from the office.**

If you’re ready to make your move or refinance your home in 2021, get started by connecting with one of our loan officers at or by giving us a call at (844) 754-6280.


*Zillow Predicts Stronger Housing Market Across the Board in 2021. Business Insider, December 21, 2020. **2021 National Housing Forecast., December 2, 2020. ***Housing Mortgage Trends 2021., November 18, 2020.



LMCU in the Community

Hutt Winners to be announced in May
The entry deadline has passed, and our judges are currently reviewing all entries to determine this year’s scholarship recipients. Winners will be announced in the May newsletter and on

Max’s Reading Adventure
Max’s Reading Adventure returns this March 1 – March 31. Kids can read at least five books during the month of March for a chance to win $100. Entry forms and more details can be found at Winners will be selected on April 16.

Wallet Wisdom
Register for LMCU’s new Wallet Wisdom virtual financial learning tool today to be entered to win one of five $100 LMCU Visa® gift cards! Make sense out of planning for retirement, saving for your kid’s college education, or starting your own business. All in one place. All for free. To enter, register between now and February 17th at:



Three ways to make the most out of your savings.

You’ve made a budget. You’ve stuck to your budget. And you’ve finally managed to have money left over at the end of every month. Now comes the tricky part: what to do with that extra cash?

1. Give your savings a job.
Instead of saving for saving’s sake, give every dollar a job. A few important jobs could include:

  • Paying off debt
  • Building an emergency fund
  • Saving for future goals like a home, wedding, car, or vacation
  • Saving for retirement
  • Investing in stocks, bonds, mutual funds, or real estate

This approach will help you become more intentional with your money and improve your financial stability over time. Even when you spend money on the fun purchases, you won’t feel guilty because you assigned a fun job to those dollars.

2. Create sub-savings accounts.
A savings account is a nice start, but dumping all of your money into one account can be difficult to manage. Sub-savings accounts allow you to allocate money to different savings categories so you can keep track of your goals. Whether you’re saving for a home, wedding, car, renovation project, or emergency fund, you can
categorize the different amounts and easily track your progress. The best part is your sub-savings accounts can still earn up to 0.25% APY* at LMCU.

3. Balance your short-term and long-term goals.
It’s easy to focus on more immediate needs like your next vacation, but don’t lose sight of the bigger picture. Save for long-term goals like your kids’ college fund, or bigger purchases that require years’ worth of planning, like a new roof. Your future self will thank you.


*APY=Annual Percentage Yield. Rates as of 1/8/21. Rates may change after account opening. $5 membership required if not a member. No minimum balance required. Fees may reduce earnings. Some requirements apply.


From fifth wheels to four wheelers, we’ve got you covered.

If you plan on buying a new toy this winter or spring, Lake Michigan Insurance Agency will shop the nation’s top insurance providers for you — they compete for your business, so you get the best coverage at the lowest possible rate. Visit to get started.



Don’t spend your future paying off your past.

High-interest debt can make you feel trapped — unable to move forward in life because you’re stuck paying off the past. At 3.00% APR,**** a home equity loan is perfect for consolidating debt. Use it to pay off your high-interest debts, and what you’re left with is one consolidated loan at a fraction of the former interest rate — shaving years and dollars off your payments. Apply today at


****APR=Annual Percentage Rate. Best rate available to well-qualified borrowers with under 80% Combined Loan to Value (CLTV). Assumes auto-pay from LMCU checking account. Your rate may be higher based on your specific CLTV, term, and credit score. Rates as of 1/6/2021. Rates subject to change after account opening. HELOC rates are variable and based on the current index margin; rates will not exceed 12%. Payment example: A HELOC with a balance of $20,000 at 3.00% APR will have 120 interest-only monthly payments of $50.96. After the 120 interest-only payments, the full amortization monthly payment will be $138.12 for 180 payments. Home equity loans are available for properties located in Michigan and limited counties in Florida. Fees may differ in Florida. Terms, loan amount maximums, and other restrictions apply. Call or see the branch for details. $5 membership required if not a member.



Get your maximum refund and special savings on TurboTax®.

Getting your biggest possible tax refund has never been easier. From simple to complex taxes, TurboTax has you covered. Just answer questions about your year, and TurboTax fills in all the right forms for you. Need help? Real experts are standing by — and can even do your taxes for you, start to finish. Lake Michigan Credit Union members save up to $20 when you start TurboTax now! Visit to get started today.

Visit for TurboTax product guarantees and other important information. Limited time offer for TurboTax 2020. Discount applies to TurboTax federal products only. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries.



You’ll love working here.

Now hiring tellers! We’re looking for positive, customer-focused individuals who can provide exceptional service to members at our West Michigan, Southeast Michigan, and Southwest Florida locations! Enjoy a rewarding, professional environment where you’ll be encouraged to innovate and excel. Find out why we’re recognized as one of the Best and Brightest Companies to Work For®** in the nation as well as a Top Performing Credit Union.*** Visit to learn more.


** National Association for Business Resources (NABR), February 2020. *** S&P Global, March 2020.



LMCU Financials

As of December 31, 2020

Assets -$9,241,142,740
Loans -  $6,374,492,025
Deposits -$7,815,2688,919
Members - 487,405


Topics: Newsletters