Refer a Friend
Field of Membership
- Persons who live, work, or worship anywhere in Michigan's lower peninsula or anywhere in Florida
- Persons who are an immediate family member of any LMCU member - father, mother, brother, sister, son, daughter, grandmother, grandfather, or spouse - regardless of your state or county of residency
- Persons residing outside of Michigan or Florida, who would like to contribute $5 to the ALS (Amyotrophic Lateral Sclerosis) Foundation
Financial Statistics
- Assets: $16,993,035,334
- Loans: $13,409,601,738
- Savings: $14,513,721,897
- Members: 659,664
- As of : 5/31/2026
Our History
When school teacher Lloyd F. Hutt opened the doors of his depression-era home and created a new business, he opened a new chapter in West Michigan banking. Pooling the money of 13 fellow visionary teachers, Hutt created Grand Rapids Teachers Credit Union (GRTCU), which began operations right out of Hutt’s own home. Eighty years later, Hutt would scarcely recognize the expansion of his home-grown company. Decades of steady growth, strategic mergers, and the addition of several major service lines have transformed Hutt’s business in ways he could have never foreseen. Lake Michigan Credit Union (LMCU) is now the largest financial institution headquartered in West Michigan.
1933 – The credit union is founded in October of 1933 by Lloyd F. Hutt, a Grand Rapids school teacher. Motivated by the shortage of money during the Depression, 13 enterprising teachers pool their resources and organize Grand Rapids Teachers Credit Union. Lloyd F. Hutt operates Teachers Credit Union from his home.
1959 – With more than 1,000 members and over $1 million dollars in assets, Grand Rapids Teachers Credit Union moves out of Lloyd Hutt’s home into its first building, an office located at 2424 South Division Street.
1971 – With over $10 million in assets, Grand Rapids Teachers Credit Union opens its Michigan Street office. Also, GRTCU begins its service of managing other credit unions: Food Marketers, Health Care, and Saint Mary’s Hospital.
1992 – GRTCU reaches $120 million in total assets with a membership of approximately 33,000. Assets for the managed credit unions pass $40 million. GRTCU acquires Aquinas College Credit Union.
1996 – Total Lending Center opens. Along with offering 24-hour, 7 days a week lending service, GRTCU is now on the Internet. Food Marketers Credit Union changes its name to Alliance Credit Union. CU Check Card is introduced.
1997 – GRTCU acquires Blodgett Hospital Credit Union. PC Home Banking is introduced.
1999 – Internet Home Banking is implemented for membership. A Local Area Network (LAN) is installed in its corporate headquarters. Blodgett Hospital Credit Union merges into Health Care Credit Union.
2001 – Consolidation of the managed credit unions (referred to as CU Financial Group) into one credit union. We are now exclusively Grand Rapids Teachers Credit Union.
2002 – The Lake Michigan Credit Union name and logo are adopted. Formerly Grand Rapids Teachers Credit Union, LMCU is the result of the consolidation of the credit unions that make up the CU Financial Group. The credit union charter changes to a community charter, serving those who live, work, worship, or attend school in Kent, Ottawa, Muskegon, and Allegan Counties. The data processing system is now with Symitar.
2003 – LMCU acquires Grand Shore Credit Union in Grand Haven.
2008 – LMCU celebrates its 75th Anniversary. The credit union’s charter changes again to expand membership to those who live, work, worship, or attend post-secondary school in 36 Michigan counties.
2010 – LMCU acquires Kalamazoo-based Citizens Credit Union. Total assets reach $2 billion.
2013 – Total assets reach $3 billion.
2015 – LMCU expands to serve portions of southwest Florida.
2016 – Total assets reach $4 billion. LMCU becomes the largest credit union in Michigan
2018 – LMCU acquires Encore Bank, reaches 400,000 members and $5.46 billion in total assets
2020 – LMCU reaches 500,000 members and $9.24B in total assets.
2021 – LMCU begins a 10-year partnership with the West Michigan Whitecaps and secures the naming rights to LMCU Ballpark. LMCU acquires Pilot Bank and reaches $11.67 billion in total assets.
2022 – LMCU is rated #1 in the nation for Return to Member out of its peer group (credit unions with $8-20 billion in assets) by Callahan & Associates and reaches $11.9 billion in total assets.