Lake Michigan Credit Union

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A short history of Lake Michigan CU

Since its inception in 1933 the Lake Michigan Credit Union has been serving its members in the GRAND RAPIDS, Michigan area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Sandy Jelinski, the Lake Michigan CU has grown its membership to over 306,218 with assets of more than $5,180,296,489. They have a main office and 42 branch offices. Please see the credit unions website or contact them by phone at (616) 242-9790 or email them at to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in GRAND RAPIDS, MI.

General Information For Lake Michigan CU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 62514
Address PO 2848 
State Michigan 
Zip-Code 49501
Phone Number (616) 242-9790
Fax Number () -
Email Address:
CEO/President Sandy Jelinski
Members 306,218 
Full-Time Employees 1,045 
Part-Time Employees 63 
Number of Branch Offices 42 
Total Assets 5,180,296,489 

Compare Lake Michigan Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Latvian Heritage CU Latvian Heritage Federal Credit Union Detroit Office 30623 W 12 Mile Rd 48334 (248) 477-5955 No 1.07
Aac CU Standale 177 Wilson Ave NW 49534 (616) 288-0288 No 1.28
West Michigan CU Cadillac 215 Bell Ave 49601 (231) 775-0145 No 1.69
Kent County CU South Branch 901 Gezon PKWY SW 49505 (616) 531-7865 No 2.02
Fedcom CU Jenison Office 7565 Cottonwood Dr 49428 (616) 364-7283 No 2.22

Lake Michigan Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

Lake Michigan Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 6.75 2.75 2.75 4.25 3.99
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 37 115 71 174 99
Rank Among All Michigan Credit Unions 3 28 18 44 14

Lake Michigan Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 3.00 0.25 0.50 1.39 0.80
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 7 95 60 105 184
Rank Among All Michigan Credit Unions 3 10 8 15 36
Lake Michigan Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 6.75058,11185,999,892
All Other Unsecured Loans/Lines of Credit 5.99032,04047,185,688
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 2.7505,54082,138,727
Used Vehicle Loans 2.75036,040334,387,056
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.25015,3932,783,264,990
Total Other Real Estate Loans/Lines of Credit 3.9909,793246,344,585
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.9903,70174,718,292
TOTAL LOANS & LEASES 160,6183,654,039,230

Lake Michigan Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 4,056999,022,8863,878679,292,903
    b. 15 Years or less 3,756447,431,7541,025170,507,063
    a. > 15 years 509274,224,0688652,647,398
    b. 15 Years or less 17987,503,8843717,097,800
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 2,60064,999,1521,16527,795,221
Adjustable Rate > 1 yr 4,293910,083,246902195,983,885


Closed-End Fixed Rate 5,043140,683,68583628,663,876
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 4,750105,660,9002,19939,071,319
Open-End Fixed Rate 0000
TOTALS 25,1863,029,609,57510,1281,211,059,465


Interest Only & Payment Option 1st Mortgage Loans 2,605304,986,093203,409,625
Interest Only & Payment Option Other RE/LOC Loans 4,15399,901,08337,636,452
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Lake Michigan Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards No
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans Yes
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes