Key people Sandra Jelinski (CEO) Website www.lmcu.org CEO Sandra Jelinski (2000–) Assets under management 3.9 billion USD (2015) Type of business Credit Union | AUM US$3.9 billion (2015) Headquarters Grand Rapids Founded 1933 Number of locations 37 (2015) | |
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Subsidiaries Lake Michigan Insurance Agency, Inc., Citizens Credit Union, Lake Michigan Credit Union 401(k) Plan | ||
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.
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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.
Citizens Credit Union
In mid May 2010, the Kalamazoo based Citizens Credit Union announced that they planned to merge with Lake Michigan Credit Union. and took place in June 2010. The merger resulted in the addition of Citizen Credit Union's 9,000 members and $US60 million assets to Lake Michigan Credit Union's estimated 168,000 members and $US1.87 billion assets.
United Federal Credit Union
In October 2015 Lake Michigan Credit Union and United Federal Credit Union announced their intent to merge. The merger did not occur.