Lake Michigan Credit Union, founded in 1933, is a credit union based in Grand Rapids, Michigan. As of 2011, Lake Michigan Credit Union has 36 locations throughout the state of Michigan. The credit union currently has approximately 305,000 members and US$3.6 billion in assets, making Lake Michigan the second largest credit union in the state of Michigan and the largest financial institution based in Western Michigan. As the organization is a federally insured state-chartered credit union, Lake Michigan Credit Union is regulated by the National Credit Union Administration (NCUA). Lake Michigan Credit Union was officially chartered in 1933 and was assigned NCUA charter number 62514.
History
Lake Michigan Credit Union was founded in 1933 in Grand Rapids, Michigan, by Lloyd F. Hutt as Grand Rapids Teachers Credit Union. On March 1, 2002, the name was changed to Lake Michigan Credit Union.
In mid-May 2010, the Kalamazoo-based Citizens Credit Union announced that they planned to merge with Lake Michigan Credit Union. This merger took place in June 2010 and resulted in the addition of Citizen Credit Union's 9,000 members and $60 million assets to Lake Michigan Credit Union's estimated 168,000 members and $1.87 billion assets.
In October 2015 Lake Michigan Credit Union and United Federal Credit Union announced their intent to merge. The merger did not occur.
References
External links
- Official website
