LMCU Cares Program donates $110,000 to local non-profits.

As a way to support our communities during the height of the pandemic, we developed the LMCU Cares program to support local non-profits in the communities we serve to help those most impacted. Through this program, every new purchase or construction mortgage application taken during the months of May and June, LMCU donated $50 upon closing to local nonprofits addressing food insecurity throughout– providing thousands of meals for our neighbors, friends, and members.

Local nonprofits that received the donations include:

• Father Fred
• Food Bank of Eastern Michigan
• Gleaners Community Food Bank
• Greater Lansing Food Bank
• Harry Chapin Food Bank of SWFL
• Kalamazoo Loaves and Fishes
• Kids’ Food Basket

Thank you to our community partners and members for choosing LMCU as your financial partner when it came to buying or building your home. This program would not have been nearly as successful without you. View the complete list of community partners that took part in this program.  

Earn more. Pay less. Smile often. 

Members get up to 25% off LegalShield.

LegalShield provides affordable, on-call legal help — including estate planning, reviewing legal contracts, and providing legal advice — and now you can take advantage of their services for a fraction of the cost. Learn more at LMCU.org/MemberPerks.

Our numbers speak louder than words.

You’ve heard the phrase, “We’re all in this together” so many times you’re saying it in your sleep. At LMCU, we’re putting our money where our mouth is with special rates to help you earn more and pay less on the things you need most.

Buy or refinance your auto loan at just 1.99%APR.*

Fix up your home with a home equity line of credit at just 3.00%APY.**

Or consolidate high-interest debt using the nation’s #1 low-rate credit card*** at 3.00% + prime.****

Because it’s easy to say the right things. At LMCU, the proof is in your pocket.

Learn more at LMCU.org. *

APR = Annual Percentage Rate. 1.99% APR has a maximum term of 36 months and is based on 2013 or newer model year and credit score of 780 or above. Subject to credit approval, loan purpose, amount, term and vehicle year. **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. HELOC rates are variable and based on the current index margin; rates will not exceed 12%. 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 branch for details. ***Kiplinger, June 2020. Prime Platinum names the #1 low ongoing rate credit card in the nation. ****Lowest rate featured based on credit score of 760. Subject to credit approval and income qualification. Other rates and terms available, contact us for more information. All rates as of 9/11/20. Rates are subject to change after account opening.

The race for more space.

Your family is growing. Your stuff is multiplying. Your house is shrinking. It’s time for an upgrade. Here are three things you can do to prepare for buying a bigger home.

1. Save for a down payment.

Plan on needing at least 6% for the down payment.* On a $250,000 home, that’s $15,000. It might feel like a lot, but if you start saving now, you can chip away at it little by little.

2. Check your DTI.

Your debt-to-income ratio (DTI) is a comparison of your monthly debt payments versus your monthly income. Your DTI ratio helps lenders determine how well you manage monthly expenses and whether or not you’d be able to repay a loan. The ideal DTI ratio is 43% or less.**

3. Get pre-qualified.

Getting pre-qualified can help the home buying process move more quickly once you find the right home. And with mortgage rates at an all-time low,*** you don’t want to miss out on the savings.

To get started, connect with an expert Loan Officer at LMCU.org/Mortgage or call us at (844) 754-6280

*Average down payment on a house or condo for first-time homebuyers, National Association of Realtors, 2019. **Credit Karma, 2019. ***Washington Post, August 6, 2020.

Parade of Homes is coming soon.

The Home Builders Association of Greater Grand Rapids Fall Parade of Homes is happening:

October 16 – October 24

Monday – Thursday | 4 p.m. to 8 p.m.
Fridays and Saturdays | 1 p.m. to 8 p.m.
LMCU members and non members save $5 when you purchase tickets at any of our LMCU greater Grand Rapids or Lakeshore branch locations.

$10 | Tickets purchased at LMCU Grand Rapids and Lakeshore branches
$15 | Tickets purchased at parade homes
Tickets for children under 12 are FREE.

For more information visit myGRhome.com.

Enter to win a pair of tickets to this year’s HBA of Greater Grand Rapids Fall Parade of Homes at LMCU.org/MemberPerks from now until October 8. Winners will be contacted by email on October 9.

We’re proud to offer our My Teacher Is … Grant Program.

If you looked up the word [ re·sil·ient ] in the dictionary, there would be a picture of this teacher. Tell us why they are the most resilient educator ever, and they could be awarded one of twenty-five $1,000 My Teacher is… Grants. Eligibility is open to active teachers in Michigan and Florida.

Details can be found at LMCU.org/Community. Nominations will be accepted October 1 through October 23. Grant recipients will be announced in early December.

Thank you to all of our resilient teachers!

Thank you to all of our LMCU Bridge Run virtual runners! 

Things looked a little different this year, but we had a lot of fun. Thanks again to our nearly 800 participants! We hope to see you in person next year for the 2021 Lake Michigan Credit Union Bridge Run.

The 31st annual Hutt Scholarship program is coming soon. 

LMCU was originally founded as the Grand Rapids Teachers Credit Union, so w have a soft spot for education. Our annual Hutt Scholarship Program provides high school seniors with the opportunity to win one of fifteen $2,000 college scholarships.

Applicants submit an original essay answering a single question, and essays are evaluated by a panel of independent judges based on the author’s passion for the topic, creativity, clarity, and originality.

This year’s contest launches November 1. Check back soon for this year’s topic at LMCU.org/Hutt.

*S&P Global, 2019

Medicare open enrollment is October 15 – December 7.

At Lake Michigan Credit Union, our Medicare specialists can guide you through the open enrollment process. Open enrollment is the only time you can make changes to your 2021 plan. We’ll review your current plan and share the new options for 2021.

Learn more or schedule an appointment at LMCU.org/Insurance, email us at Medicare@LMCU.org, or call us at (866) 603-2864.

Financial solutions for next quarter, and the next quarter century.

Keep tabs on today’s funds with our treasury management services, earn cash back with our business rewards credit card, get quick answers from local underwriters, and set your business up for future success with competitive loan rates the big banks can’t match.

Call us at (800) 242-9790, or email us at CommercialLending@LMCU.org to get a free, no-obligation analysis of how much we may be able to save your business.

Changes to Michigan’s personal injury protection insurance could save you money.

Up until now, Michigan drivers have been required to carry unlimited personal injury protection. But now, you can choose how much coverage you carry, and that COULD save you money on your insurance.

At Lake Michigan Insurance Agency, we work with you one-on-one to provide the peace of mind that comes from knowing you’re completely covered. Once we’ve identified what types of coverage you need (and just as important, what types of coverage you don’t need), we then work with the top providers in the country - industry leaders like Auto-Owners® Insurance, Citizens Insurance™, and Frankenmuth® Insurance. They compete for your business, and you get the best possible coverage at the lowest possible rate.

We know you have questions, and we’ll do our best to provide the answer. Please visit LMCU.org/AutoReform to learn more. And if you’d like one of our experienced, local agents to walk you through the process, we’ve got you covered there too. Just call (616) 234-6979.

Forbes ranks LMCU one of the best credit unions in the nation.*

Of the 5,236 credit unions nationwide, just 3.5% made Forbes’ short list. Financial institutions were scored on overall recommendations and satisfaction, as well as trust, terms and conditions, branch services, digital services, and financial advice.

*Forbes, June 2020 rated one of the best in the nation