Income Tax/Year-End Information

  • Begin ACH/Electronic Transaction

    • When requesting an authorization for an electronic payment or deposit to your account, please include both the 9 digit routing number and the 12 digit-MICR format of your account number.

      The MICR format of your account number can be found on the bottom of your checks. It is the second set of numbers and is 12 digits long. The first set of numbers is the routing number.

      You can also find your full account and routing number by:

      -Logging in to Online Banking - click on the 'Service' tab, then on 'Display MICR'
      -Logging in to our Mobile App - go to the Menu, then click 'Account Details'
      - Calling our Member Services Department at (616 or 800) 242-9790.
  • Turbo Tax

    • A link to Turbo Tax is available on the bottom of our website during tax time. Members can file Income Tax returns electronically from that site.

      When setting up your income tax refund on direct deposit, please use your full, 12 digit account number and our 9 digit routing number.

      Your full account number can be found inside of online banking by clicking on the 'Services' tab and then selecting 'Display MICR - Routing Number & Account Number.' It can also be found on the LMCU Mobile App under the menu option "Account Details."

      While LMCU does not have a connection with Turbo Tax, this program should provide the ‘help’ to support its users. If you do not feel qualified to use this “self-help” program, LMCU recommends a qualified professional with up to date training in tax laws to assist you with completing income tax filing.
  • View Transactions

    • You can view all account transactions for the last 12 months inside of Online Banking. After you log in, click on the account that you would like to view from the main page. The next page displays all transactions for that account starting with the most recent transaction. You are able to sort or narrow down your search by using the filter options to look for specific transactions or for a specific date range.
  • YTD Dividend Earned

    • Dividend is interest paid to you as a return on your Share Deposits. These Year-to-Date totals are delivered to you in a 1099 mailing by the end of January and are also available in Online Banking:

      1. Log in to your account.
      2. Click on the 'Services' tab
      3. Scroll to the bottom to 'Tax Center'

      The December year-end statement shows YTD totals for open accounts and does not include dividends paid on CDs or savings accounts that were closed during the year.

      When paid dividends total less than $10.00, no 1099 is issued as those earnings are not reported to the IRS. You should consult a qualified Tax Professional to determine how these dividends should be included as income when you file your income tax returns.
  • YTD Interest Paid

    • The total interest you paid on loans for the year is delivered to you on your December year end statement.

      Mortgage and Home Equity interest amounts are sent in a separate 1098 mailing by the end of January.

      These totals are also available in Online Banking.

      1. Log in to your account
      2. Click on the 'Services' tab
      3. Scroll to the bottom to 'Tax Center'

      You should consult a qualified Tax Professional to determine whether this interest qualifies as a deduction as you file your income tax returns.