Earn more. Pay less. Play Ball.

Learn what's happening at LMCU.

The $50,000 Home Makeover contest is back.

The contest will officially open later this month! To enter, visit LMCU.org and follow the link to our entry site.* You can also enter at any LMCU branch. Use the money to finish your basement, start a business, upgrade your kitchen, throw your dream wedding, take your dream vacation, go back to school, build a deck, get out of debt, fund a 3% Max Checking account, buy a new or used car, or build a two-car garage for your new cars.

*Enter once daily.

LMCU in the Community

A new year...a new season...a whole new ballgame.
Lake Michigan Credit Union and the West Michigan Whitecaps are excited to announce that 2021 is bringing West Michigan a whole new ballgame — the Whitecaps stadium is now officially named LMCU Ballpark! Follow us on Facebook, Instagram and Twitter over the next couple months to see new signs going up, hear about Opening Day details and special benefits for LMCU members!

Max’s Reading Adventure

Reading five books could win your child $100! (That’s like a million-zillion dollars to kids.)

Max’s Reading Adventure returns this March, challenging kids to hit the books for a chance to win $100. Read at least five books during the month of March to be eligible. Fill out an entry form available at LMCU.org/Contests or in our branches beginning March 1 through March 31. Once your child has read five books, entry forms can be submitted online at LMCU.org/Contests, or dropped off at the nearest branch in the drive-thru or in person. Each branch will draw one winner on April 16 for the $100 prize.

Auto loans starting at 1.99% APR.**

Low interest rates turn every ride into a joyride. Whether you’ve finally accepted your minivan fate, or you just want every highway to feel like home, we can help. We offer auto loans that have a variety of term lengths at competitive rates to get you on the road faster.

**APR=Annual Percentage Rate. Rates as of 2/8/21 and subject to change. Lowest rate featured applies to credit score of 780 or above. Subject to credit and income qualification. Your rate may be higher depending on your credit history, loan purpose, amount, term and vehicle year. Featured auto rate is based on 2014 or newer model year and a 36 month term. $5 membership required if not a member.

Is now the time for you to refinance? Find out by asking yourself these questions first.

Refinancing your mortgage can be a great way to save money over the long term and realize your financial goals faster. Mortgage rates recently reached record lows, with many homeowners considering refinancing their current mortgage.

There are many different benefits to refinancing, depending on your own financial situation. Knowing what your goals are for a refinance can help you determine if it’s a good option for you.

• Lower your payment
• Pay off your mortgage faster
• Get rid of private mortgage insurance
• Extra cash for home repairs and improvements
• Consolidating debt

Questions to ask yourself before refinancing:

1. Is my current rate high?

Check your mortgage statement to find out what your rate is and connect with a mortgage loan officer to see if refinancing makes sense for you. If you want to do some calculations on your own first, check out our refinance calculators on LMCU.org/FinancialWellness.

2. What will my closing costs be?

Each lender has different closing fees associated, ranging from 2-5% of your total loan amount.* By dividing your total closing costs by your monthly savings, you’ll know the number of months it will take to break even. At LMCU, we have industry low closing costs which lower the amount of time it will take for you to start realizing true savings. If you plan to stay in the home longer than your break-even point, refinancing could be the right move for you.

3. Are my finances in order?

Prior to refinancing, check in on your credit score and debt-to-income (DTI) ratio. The higher your credit score is the lower your interest rate. The ideal DTI ratio is 43% or less.** For tips on how to improve your DTI ratio or credit score, check out Wallet Wisdom, LMCU’s free financial library that includes podcasts, blogs, and virtual, interactive learning tools.

Are you ready to refinance? Connect with an LMCU Loan Officer at (844) 754-6280 or visit LMCU.org/Mortgage today.

*The Mortgage Reports, Guide to mortgage closing costs: Average closing costs and how to keep yours low. Gina Pogol, January 10, 2020. **Credit Karma, 2019.

Introducing new savings for your wallet from BenefitHub.

Sign up with BenefitHub and enjoy discounts on travel, local deals, entertainment or your favorite brands! Enter for a chance to win a $50 Amazon gift card — use code 8ZWXGB when creating your account and start saving today!

Visit LMCU.org/MemberPerks to learn more.

Tracfone^®

Keep your phone, number and network and save when you switch to no-contract wireless.

Tracfone: Now you’re in control with Unlimited Carryover® Data*** that never expires. Choose from America’s Top 4G LTE Networks without a contract or mystery fees.

Net10^®: Live your best wireless life with NET10 Wireless. Choose from America’s Top Nationwide Networks or keep the one you love, all without a contract.

Total Wireless™: Discover total confidence in a no-contract wireless plan. We got you covered on the nation’s largest, most dependable 4G LTE network.

Member benefits include no contracts or mystery fees.

We offer a variety of wireless plans to meet your individual needs with no contracts, credit checks or mystery fees.

• Top networks - coverage on America’s largest and most dependable networks

• Top phones - whether you’re an Android person or an iPhone fanatic, we have the latest phones for every budget

• Keep your own phone - love the phone you have? Keep the phone, number and network you love with our easy-to-install SIM Kits

Visit LMCU.org/MemberPerks to learn more.

***Service must be active and in use within any six month period. Actual availability, coverage and speed may vary. See Terms & Conditions at Tracfone.com.

Annual Meeting.

The Annual Meeting of Lake Michigan Credit Union will be held on Monday, April 26 at 4:00 p.m. The meeting will be at LMCU’s Corporate Office located at 5540 Glenwood Hills Parkway SE, Grand Rapids, MI. Members are required to RSVP by April 12 to: Kaylee.Raffa@LMCU.org in order to attend. Walk-in attendees will not be permitted. Social distancing procedures will be observed and all attendees will be required to wear a mask. No food or beverage will be served. In accordance with the Credit Union’s bylaws, the Secretary hereby submits the following election notice: Two Board of Director’s terms of office will expire at this meeting. The two incumbent Directors have been nominated to serve additional terms of three-years. They are Juan Olivarez and Bill VanPortFleet.

LMCU Financials

As of January 31, 2021

Assets -$9,394,594,557
Loans - $6,403,384,365
Deposits - $7,928,569,031
Members - 489,446