Refer a FriendGrand Rapids, MI (August 13, 2025) – Lake Michigan Credit Union (LMCU), Michigan’s largest credit union, today announced that its Board of Directors has approved a $12 million multi-year commitment to improve borrowing opportunities for under-resourced residents across Michigan. The commitment includes more than $2 million in 2025 for LMCU’s HomeAssist Downpayment Program, which launched in August 2024 with an initial $1 million in funding to provide economically under-resourced borrowers access to funds that can be used towards a downpayment and closing costs on their first home. Since its launch, HomeAssist has helped more than 180 first-time homebuyers achieve homeownership with a grant of $10,000 or more and has played an important role in helping close the homeownership gap for under-resourced households. As the first $1.9 million of assistance has already been fully deployed or reserved, LMCU is excited to significantly expand its support and extend its commitment. For LMCU, an expansion of these efforts and financial support is grounded in recognition of the difficult conditions for first-time homebuyers, marked by a limited inventory of available homes and a challenging mortgage interest rate environment. LMCU remains committed to providing solutions that make homeownership more accessible for all. “At a time when buying a first home has become even more challenging, we’re proud to expand our investment in creating more homeownership and providing even greater support to first-time buyers,” said LMCU President & CEO Julie Leonard. “As one of the largest mortgage lenders in the state, we believe we have a responsibility to expand access to mortgage financing and make a positive impact in the neighborhoods we serve. The HomeAssist program is one of many ways we’re investing in our members and our communities.” In addition to the $12 million investment in its own programs, LMCU is providing a $2 million donation to the Fair Housing Center of West Michigan, a non-profit organization that works to increase homeownership through education, advocacy and outreach here in West Michigan and across the state. The announced $12 million investment builds on LMCU’s ongoing broader efforts to expand homeownership through community-based mortgage officers, proprietary lending products like HomePlus, and financial education programs that support homebuyer readiness. Since 2022, LMCU has originated more than $45 million in home loans under its 0% down payment HomePlus program, hosted more than 60 first-time homebuyer seminars, and partnered with numerous local nonprofits. “Expanding our work and investment to address homeownership rates and access to capital in under-resourced communities remains a top priority for LMCU,” Leonard said. “We are excited to continue serving our members and communities with the resources and partnerships needed to make homeownership a reality.” LMCU has long been focused on increasing access to homeownership and established a Community Advisory Board in 2019 and a Mortgage Community Lending Council in 2021, both of which played a key role in the creation of the HomeAssist and other lending programs. These initiatives reflect LMCU’s long-term commitment to improving the financial health of all its members and expanding access to homeownership across Michigan. For more information, visit LMCU.org. About Lake Michigan Credit Union Lake Michigan Credit Union, established in 1933, is the largest credit union in Michigan and 14th largest in the country. Employing a staff of over 1,650 and serving more than 600,000 members, LMCU's assets exceed $14 billion, with over $18 billion in portfolio and serviced mortgages. LMCU has 71 convenient branch locations, including 21 across the Tampa Bay area and Southwest Florida. LMCU members have access to over 55,000 Allpoint ATMs worldwide. LMCU provides a full range of financial services, from high-interest-bearing checking accounts to personal loans, mortgages, business banking, investments, and insurance. To find out more, visit LMCU.org. Federally insured by NCUA. Equal Housing Lender. NMLS #442967. Media Contact: Christi Cowdin Chief Marketing Officer, Lake Michigan Credit Union (616) 242-9755 [email protected]