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Learn what's happening at LMCU.
600,000 members and still growing strong.
I recently had the pleasure of personally welcoming LMCU’s 600,000th member, Asad, to the credit union. He visited his local branch and joined LMCU after a friend shared how much they love the credit union (especially their Max Checking account!).
What I love about Asad’s story is that it is not unique. Credit unions are about community, and many of our new members join because a friend or loved one has been a lifelong member. The value and service we provide makes an impression, and our incredible growth is thanks to the trust you put in us.
Thank you for being part of LMCU’s story. I look forward to what the next chapter brings.
Julie Leonard, President & CEO
Two new LMCU branches are opening soon!
We are excited to announce that we’re expanding in both Michigan and Florida! Our new branches on Del Prado Boulevard in Cape Coral, Florida, and West Washington Street in Greenville, Michigan, will open later this year. Keep an eye on our social media for updates. We can’t wait to serve you at these new locations!
Refer friends to LMCU and get $50!*
Have you ever recommended LMCU to a friend, loved one, or neighbor? With our new Refer a Friend program, now you can earn a bonus when you refer new members through LMCU.org/Refer.
After each completed referral, you and your friend will receive $50. The more people you refer, the more you earn! Learn more and start referring at LMCU.org/Refer.
*Requirements apply. See LMCU.org/Refer for details.
More shred days are around the corner.
Each spring and fall, we offer free document shredding events at several of our branches. Locations, dates, and details will be announced on social media and LMCU.org/Events.
Lace up your shoes for the 2024 LMCU Bridge Run on September 15.
Join us for the 22nd annual Bridge Run for a fun event filled with miles and smiles! The 5k run/walk and 10-mile run will take place on Sunday, September 15 in downtown Grand Rapids.
Hit the ground running and sign up today at TheBridgeRun.com! LMCU members receive a $5 discount by using code member5 when registering.
See you at the starting line!
Congratulations to the 2024 Roots in Education grant recipients.
Throughout February and March, Michigan and Florida teachers were nominated by students, parents, and their peers for the 2024 Roots in Education grant. Each year, the Roots in Education grant program awards 25 different teachers who embody a particular trait and make a positive impact on their students and school community. This year, we are recognizing teachers known for their optimism and spreading positivity both inside and outside the classroom.
The 25 teachers have been selected and each received a $1,000 grant to use toward anything that benefits the educational process. You can view the grant recipients at LMCU.org/TeacherGrant.
Congratulations and thank you to all the inspiring educators for the important work you do every day.
Band Together to support kids’ care this August.
Our annual Band Together campaign is kicking off in August to raise funds for more than a dozen children’s health care programs in Michigan and Florida hospitals. Last year, our staff, members, and community raised over $70,000! Help us raise even more this year by donating at your local branch or online at LMCU.org during the month of August. If each LMCU member donated just a dollar, we would raise over $600,000!
Enjoy a Whitecaps game (or two, or three) at LMCU Member Nights.
Join us for LMCU Member Nights with the West Michigan Whitecaps on July 26, August 24, and September 8.
For these games, we are offering exclusive ticket packages for LMCU members with a discounted game ticket and early entry. To get your tickets, log in to LMCU’s Online Banking at LMCU.org and find the Whitecaps link under Quick Links. For more Whitecaps perks and discounts all season long, visit LMCU.org/Whitecaps. See you at LMCU Ballpark!
The best checking account for earning more.
Did you know our 3.00% APY* Max Checking account has been included on best-of lists from Bankrate, CNN Underscored, and Investopedia? In fact, Money.com named LMCU the best financial institution in America for high-yield checking.**
Max Checking stands out from other accounts because it makes it easy to actually earn interest on your money every month. With 3.00% APY on amounts up to $15,000, you can earn nearly $450 extra a year. That can cover your streaming services, add some extra date nights to the calendar, or pad your rainy day fund.
If you don’t have a Max Checking account, what are you waiting for? With no minimum balance to open and no monthly fees,*** there’s no reason to wait. Open your account in Online Banking or at your local branch. 
Jason and Shannon are LMCU members and were compensated for their time. *APY = Annual Percentage Yield. Rate as of 6/5/24 and subject to change after account opening. 3.00% APY is earned on balances $15,000 and below, some requirements apply. Interest not paid on balances over $15,000. Nearly $450 is earned at 3.00% APY on balances of $15,000. Fees may reduce earnings. $5 membership required if not a member. **Bankrate, May 2024; CNN Underscored, December 2023; Investopedia, September 2023; Money.com, October 2023. ***Overdraft/returned item fees may apply.
The $50,000 Home Makeover winner will be announced soon!
The last day to enter LMCU’s $50,000 Home Makeover is July 5! The grand-prize winner will be selected in July. Make sure to check our social media and LMCU.org for the announcement.
Sweepstakes ends July 5, 2024. Entrant must be 18 or older and a Michigan or Florida resident. For official sweepstakes rules, visit LMCU.org.
Now offering award-winning SBA loans.
We are thrilled to have been named the 2024 International Trade Lender of the Year by the U.S. Small Business Association. This national recognition reflects LMCU’s commitment to our small business members, helping them grow by providing exceptional financing for international trade.
"It’s a privilege to build relationships with local small business owners and watch their businesses grow — and in turn, help our communities thrive."
– Javier Jorge, SBA Lending Director
Connect with our award-winning SBA lending team today. Call (833) 916-0747 or email SBALending@LMCU.org.
Saving up for a down payment?
One of the largest upfront expenses to account for when becoming a homeowner is the down payment. Many buyers believe they need to put at least 20% down on a home when, in reality, that’s not usually the case. At LMCU, we’ve financed many homes for as little as 3% down, and there are programs you may qualify for that require no down payment at all.*
Start by connecting with a mortgage officer.
Reach out to an LMCU loan officer to determine how much home you can afford, what a realistic down payment would be, and whether you qualify for any low down payment programs. For example, veterans and service members may be eligible for a VA loan offering 0% down with no private mortgage insurance, while homes in designated areas can qualify for 0% down through a rural development loan.**
Determine your down payment goal and start saving.
If you don’t already have a budget, it’s time to set one up. A common strategy is the 50-30-20 rule, which recommends that you spend 50% of income on needs (food, housing, transportation, healthcare, clothing, childcare, etc.), 30% on wants, and 20% on savings and any debts. You can find great budgeting tools and money-saving tips at LMCU.org/FinancialWellness.
Make your money go further with high-interest accounts.
Now that you are saving money for your down payment, you’ll want to make sure that money is growing safely. If you don’t already have a Max Checking account, it can be a great solution for this, earning you 3.00% APY*** on balances up to $15,000. Our CD specials can earn you an even higher rate guaranteed for the term of the CD, as long as you know you won’t need immediate access to the funds during the CD’s term. Visit LMCU.org/CD to learn more and see our latest rates.
Refinance your debt.
You can also boost your savings power by lowering your debt. If you have credit card debt, consider transferring it to card with a lower rate, such as our Prime Platinum Visa. It could potentially save you hundreds or significantly reduce the time it will take to pay off your debt.
Stick to the plan and reassess.
When it comes to budgeting and saving, consistency is key. However, when your circumstances change, it’s important to reexamine your budget and make sure it still fits your needs. As your down payment fund grows, keep in contact with your mortgage loan officer to make sure you’re on track and doing everything you can to prepare for purchasing your home.
When you’re ready to finance your home, connect with one of our expert loan officers at LMCU.org/Mortgage or call (844) 754-6280 to get started.
*For well-qualified borrowers. The interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible. Please consult your tax advisor. **Details and eligibility requirements apply. Visit LMCU.org for details. ***APY = Annual Percentage Yield. Rate as of 6/5/24 and subject to change after account opening. 3.00% APY is earned on balances $15,000 and below, some requirements apply. Interest not paid on balances over $15,000. Fees may reduce earnings. $5 membership required if not a member.
It’s never been easier to save with Lake Michigan Insurance Agency.
With LMIA, you could save an average of $800* a year by bundling your home and auto insurance. Already have insurance elsewhere? Switching to LMIA is easy — just send us your current policy and our experienced agents will provide you with a competitive quote showing just how much you’ll save.
Request a quote at LMIAInsurance.org/quote or call (616) 234-6979.
Lake Michigan Insurance Agency is not currently contracted to offer personal insurance in Florida. *Savings based on average customer savings who bundle home and auto. Your actual savings may vary.
LMCU Financials
As of May 31, 2024
Assets | $14,162,074,564
Loans | $11,720,098,065
Deposits | $12,003,629,181
Members | 600,207
Topics: Newsletters
