Pilot Bank

Together We'll Soar

We are excited to announce that Pilot Bank will soon merge with Lake Michigan Credit Union ("LMCU"). Here you can find the key advantages of the merger and answers to any questions you may have.


Better Together

This is a natural fit for both organizations. Both financial organizations share the belief in delivering exceptional value and service to our members, clients, and customers. LMCU has a growing presence in Florida and expanding into this area is a natural progression.

The combined organization will offer a wide range of commercial and personal banking services and solutions like innovative access to accounts and competitive savings and loan rates. Members, clients and customers will have greater resources and access to technological innovations that will improve the experiences for both commercial and consumer relationships, while also benefiting from a superior service experience as part of LMCU. Customers will be served in more ways, and in ways that also enhance a strong commitment to local communities.

About the Merger

From a convenience standpoint, Lake Michigan Credit Union will have 19 branches in Florida, including the 6 new branches from the acquisition of Pilot Bank. All LMCU Members will have access to over 55,000 ATM machines through the AllPoint network, in addition to those ATMs at all LMCU branches and current Pilot locations.

LMCU is headquartered in Grand Rapids, Michigan with assets over $10.4 billion and an additional 46 branches throughout Michigan's lower peninsula. Currently, membership is open to anyone who lives, works, attends school, or worships in the state of Florida, as well as the entire lower peninsula of Michigan. Membership is also open to the immediate family of existing members (immediate family is defined as father, mother, brother, sister, son, daughter, grandmother, grandfather and spouse). All current Pilot Bank customers will automatically become members of Lake Michigan Credit Union by operation of law upon finalizing the merger in late 2021, regardless of whether they meet the membership requirements listed above.

Integration Process

All Pilot Bank locations remain open and will soon be rebranded Pilot...A Part of LMCU. Until a full systems integration in 2022, it will be business as usual for all current Pilot customers. We will continue to serve you during our current hours of operation. In addition, all bank ATMs will remain available, and you will continue to have access to property in your safe deposit box. Employees you know from Pilot Bank will continue to serve you as employees of Lake Michigan Credit Union. Please see below frequently asked questions you might have about your account access. Watch this page for additional information from us as we work to provide you a seamless transition and satisfy all of your banking needs as a member of Lake Michigan Credit Union. We look forward to continuing to serve you.

About the People

Will there be changes to your staff?
This acquisition will not result in the closing of any Pilot Bank branches or changes to the servicing teams that you know. Further, it provides us with an opportunity to add new positions as our financial services and locations continue to grow.

Who will be the President/CEO of the combined entities?
Sandy Jelinski is the President & CEO of Lake Michigan Credit Union. Roy Hellwege will remain with the company and serve as President of the Central Florida Region.

About the Future

Where will the headquarters be of the credit union?
The headquarters of our credit union will remain in Grand Rapids, Michigan (Lake Michigan Credit Union's current headquarters). We will maintain a strong local and community focus in each area where we have branch locations. LMCU has maintained branch locations in Florida since 2015, and has already developed strong local and regional community relationships.

When will I see signage begin to change at branch locations?
Branch signage will change following official regulatory approval of the merger, anticipated in late 2021.

Are you planning to close any branch locations?
We do not have any plans to close branches. We continually monitor the performance of each branch location and the needs of our membership. After the merger, our branches will grow to sixty-five (65), with forty-six (46) in Michigan and nineteen (19) in Florida. Lake Michigan Credit Union currently has 13 branch locations in Florida at the following addresses:

  • 8635 Collier Blvd., Naples, FL 34114 Phone: 239-908-5878
  • 2470 Immokalee Road, Naples, FL 34110 Phone: 239-908-5921
  • 24201 Walden Center Dr. #101, Bonita Springs, FL 34134 Phone: 239-908-5870
  • 17830 Ben Hill Griffin Pkwy, Fort Myers, FL 33913 Phone: 239-908-5901
  • 7405 Devonshire Blvd., Naples, FL 34104 Phone: 239-314-0583
  • 4450 Bonita Beach Rd Ste 15, Bonita Springs, FL 34134 Phone: 239-495-0243
  • 530 Cape Coral Parkway East, Cape Coral, FL 33904 Phone: 239-314-0562
  • 21910 S Tamiami Trail, Estero, FL 33928 Phone: 239-314-0542
  • 7920 Summerlin Lakes Dr, Fort Myers, FL 33907 Phone: 239-278-5505
  • 3003 Tamiami Train N Ste 100, Naples, FL 34103 Phone: 239-919-5888
  • 2370 Vanderbilt Beach Rd, Naples, FL 34109 Phone: 239-594-3177
  • 2120 Kings Highway, Port Charlotte, FL 33980 Phone: 941-258-3055
  • 1653 Sun City Center Plaza Ste 1001, Sun City Center, FL 33573 Phone: 813-634-8001

About My Accounts

What's the benefit to me related to this acquisition?
You will experience greater value in the form of competitive savings and loan rates and easy access to financial tools and a wide range of financial services. Lake Michigan Credit Union is equipped to provide greater member return, and enhanced delivery channels such as online services. Lake Michigan Credit Union is also able to provide additional career opportunities to employees. LMCU's strength provides the size, resources and commitment necessary to competitively meet the financial needs of our consumer clients and commercial clients, both now and in the foreseeable future. Lake Michigan Credit Union will continue to offer the same products offered by Pilot Bank, as well as new types of consumer loans, mortgages and deposit products. After our core operating systems are combined in mid-to-late 2022, Pilot Bank customers will receive new account numbers for their loans and deposits. You will receive notice of any changes being made at least 30 days in advance to allow for a smooth transition, and our employees will be available to assist you through this process.

Will my account number change?
It's anticipated that in mid-to-late 2022, we will combine our core operating systems, which will require a slight change to account number structures. We will work to minimize any changes made to accounts, including your account number. We understand that this type of change may cause disruption, so our commitment will be to make this transition as smooth as possible, so that you do not experience any issues in accessing your account information.

How will this affect my rates and service charges/fees?
When our integration is complete, we will review all services provided to members, including service charges, to make sure that we provide consistent, low-cost access to the most innovative financial services you're requesting. For your reference, LMCU's current fee schedule can be viewed here.

Why do I need to have $5 in an account?
The minimum requirement to be a member of the credit union is that you must have at least five dollars on deposit. For current deposit customers, any of your existing account(s) will fulfill this requirement. For current deposit customers who have less than $5.00 on deposit, Lake Michigan Credit Union will deposit the additional funds necessary to meet the $5.00 requirement. For current loan customers that only have loans and do not have any deposit accounts, an account will be opened and funded with $5.00 to meet this minimum requirement.

Will my deposits continue to be federally insured?
Yes, Lake Michigan Credit Union is insured by the NCUA (National Credit Union Administration) through the NCUSIF (National Credit Union Share Insurance Fund). Your deposits will continue to be federally insured to the maximum amount available - currently to at least $250,000 per depositor, and backed by the full faith and credit of the United States Government. Please see a helpful comparison guide at the end of this document to review differences between NCUA and FDIC insurance.

Will I be able to access my account at new branches?
Immediately following our merger, you will have access to the Pilot Bank branch locations and ATM network as you do currently. After our core systems have been combined (planned for mid-to-late 2022), you will be able to enjoy access at all Lake Michigan Credit Union branch locations. In addition, you will be able to access your account at our Allpoint network of over 55,000 surcharge-free ATMs.

Will I still be able to use my current checks?
Yes, you will continue to be able to use your current checks following our acquisition. At the time we combine operating systems, if new checks are necessary, you will receive a complimentary box of checks.

Will I still be able to use my debit card?
Yes, you will continue to be able to use your current debit card following our acquisition. At the time we combine operating systems, we will provide you with a new card.

Will my online banking change?
Until our systems combine (planned for mid-to-late 2022), you will continue to access your online banking as you do now. After our systems combine, we will introduce more robust features to online and mobile banking to make it a faster and more intuitive way of accessing your funds. You will be notified at least 30 days in advance of any changes, new apps, and whether these changes include any new requirements to access your information.

When your name changes, will my direct deposit still work?
Yes, your direct deposit will continue to work. Pilot Bank's existing routing number will continue to work for a period of time to allow you to make any updates to prearranged deposits or withdrawals. When we combine operating systems, and our routing number changes, our employees will be available to assist you in ensuring there are no interruptions to your electronic direct deposit or automated regular withdrawals.


FDIC and NCUA Insurance Compared

Insurer Single Account- one owner Joint Account- more than one owner Retirement Accounts- includes IRAs
NCUA $250,000 per owner $250,000 per co-owner $250,000 aggregate for Roth, Traditional and Keogh; All IRA coverage is separate and in addition to coverage for other credit union accounts
FDIC $250,000 per owner $250,000 per co-owner $250,000 per owner
Insurer Revocable Trust Accounts Corporation, Partnership, and Unincorporated Association Accounts Government Accounts
NCUA $250,000 per owner per beneficiary up to 5 beneficiaries (Coverdell Education Savings Accounts insured in this category.) $250,000 per corporation, partnership or unincorporated association $250,000 per official custodian
FDIC $250,000 per owner per beneficiary up to 5 beneficiaries $250,000 per corporation, partnership or unincorporated association $250,000 per official custodian

See NCUA's website at www.ncua.gov and FDIC's website at www.fdic.gov where more detailed information about share and depositinsurance follows.