Help - Checking Accounts

What it means to be a member, how your accounts work, and where to find what you need. 

Since Rural Development Construction Mortgages are designed to help more families achieve homeownership in rural areas build homes, there are income and location requirements in order to be eligible. 

To qualify, borrowers must: 

• Meet income eligibility requirements
  • Your eligibility depends on how your household income compares to the average for your area. Typically, the USDA requires that your household income does not exceed the area median income, but we recommend that you consult the USDA for specific limits in your area. 
• Build or buy in a USDA-eligible rural location
  • Consult the USDA for up-to-date information on eligible properties. 
• Use the home as a primary residence 

Yes. Your rate is locked in for the entire term, so your earnings won’t change regardless of what happens to market rates during that period.

They can be — when the math works in your favor and the plan is solid. A debt consolidation loan may help if it lowers the interest you're paying, simplifies your monthly budget, or gives you a fixed timeline for getting out of debt. It's less effective if you extend the loan term so far that total interest increases, or if new balances keep piling up alongside it. The honest answer: it depends on your numbers. A calculator and an honest look at your budget will tell you more than any general rule. 

No. While FHA Mortgages are especially beneficial for first-time homebuyers, it isn’t a requirement. FHA loans are available to all homebuyers, so long as the home is used as a primary residence. 

Yes. We will ensure your payment systems use industry-standard security measures, including encryption, tokenization, and PCI compliance, to protect your customers’ sensitive payment data and reduce the risk of fraud. 

Yes. LMCU is federally insured by the NCUA (National Credit Union Administration), which means your deposits are insured up to $250,000 per depositor — the same protection the FDIC provides at banks. You can learn more about NCUA share insurance coverage at ncua.gov. 

That’s the great part: no! Community Impact Checking has no monthly maintenance fee and no minimum balance requirement, helping your organization keep its money laser-focused on making a difference. 

LMCU doesn’t charge a transaction fee for requests you make through your HSA investment account. There is a $30 annual HSA Investment fee. Some individual funds may apply short-term redemption fees or trading blocks to discourage rapid buying and selling. 

To find out whether a specific fund has these policies, check its prospectus using the Resource Links on the Fund Performance Dashboard.

Our goal is to make a Community Edge Mortgage as accessible as possible, for as many community members as possible. That’s why: 

• There is no income limit to qualify. 
• No homebuyer education courses are required. 
• There are no other special eligibility criteria. 

The incoming domestic wire fee is $10 and the incoming international wire fee is $15. See the fee table above for outgoing wires. 

LMCU HELOCs have no application fee and no annual fee. Some third-party costs may still apply, depending on your application and property details. These could include things like appraisal, title, recording, credit report, flood determination, or government charges.

Our home equity team will walk you through any costs that may apply before you move forward, so you know what to expect.

LMCU Home Equity Loans have no application fee and no annual fee. Some third-party costs may still apply, depending on your application and property details. These could include things like appraisal, title, recording, credit report, flood determination, or government charges. 

Our home equity team will walk you through any costs that may apply before you move forward, so you know what to expect. 

Your account will come with a daily deposit limit, but we will work with you to choose a customized daily limit that fits your needs. Get in touch with our Treasury Management team to set up Remote Deposit Capture and find a limit that’s right for you.

Yes. As an LMCU Ballpark partner, members get exclusive ticket perks and event access tied to the West Michigan Whitecaps partnership, plus everyday rewards that build the more you bank with us.

No minimums per fund. Once your HSA balance is over $1,000,³ you can put whatever amount you choose into the available HSA mutual funds. There’s no floor on individual fund purchases.

Yes. LMCU isn't able to support individual requests, political candidates or committees, travel on behalf of organizations, or third-party fundraising benefits. 

This charitable sponsorship request form is for community organizations, schools, nonprofits, and groups requesting support for eligible events, programs, volunteer opportunities, or community partnerships. If your request falls into one of the categories above, it won't be eligible — but we appreciate you reaching out. 

Product features, eligibility, discounts, carriers, bundling opportunities, and availability may vary by state. 

No, VA loans are available to all homebuyers who meet the program eligibility requirements. 

Yes. Escrow accounts are frequently used for real estate closings to hold deposits, earnest money, and other transaction funds until closing requirements are met and funds can be distributed.

Absolutely. LMCU serves members across Western Florida, with 23 branch locations and online account opening available. Whether you're in the Tampa Bay area or Southwest Florida, you can open a checking account online or stop into a branch near you. Membership is open to anyone who qualifies — and getting started takes minutes.

Yes! Our Business Max Money Market account allows you to retain access to your money through transfers, checks, and digital banking tools, making it easy to put your funds to work when it’s time for your business to do business. 

In some cases, yes. LMCU offers a self-build option for licensed general contractors with current, documented residential building experience. It's not for everyone — but if it fits your situation, it can be a real advantage. Talk with your LMCU loan officer to find out if you qualify and whether it's the right path for your project. 

Yes, you can access Online Banking through your phone’s browser, or use our phone and text banking services. 

Yes, and that's exactly what a vacant land loan is designed for. If you've found the right parcel and aren't ready to build yet, this loan lets you secure it now and build later.

Though there are a few things worth sorting out before you purchase: zoning and land use restrictions, access to utilities, road access, and any survey or title work the property may need. None of these have to be resolved before you apply. However, knowing where things stand helps the process move faster. Your LMCU loan officer can help you think through what to check. 

Yes. You can return to your eAlert Settings in Online Banking at any time to edit, delete, or update your eAlert preferences.

Your builder must be added to LMCU's Builder Activation list before construction financing can begin. This is a standard part of our construction lending process, where we review a builder's experience, credentials, and financial information to determine eligibility.

Yes! Both HomeAssist and MSHDA’s down payment assistance can be combined with other mortgage programs like: 

• Conventional mortgages 
• FHA loans 
• VA loans 
• USDA Rural Development loans
• Other applicable first‑time homebuyer programs 

Yes! HomeAssist is a down payment assistance program, not a type of mortgage. This means it can be paired with: 

• Conventional mortgages 
• FHA loans 
• VA loans 
• USDA Rural Development loans
• Other applicable first‑time homebuyer programs 

Yes, contributions can be made on behalf of the same child to both a Coverdell ESA and a 529 plan.

You can scan and deposit checks at any time and will often be processed the same business day. Cut-off times will apply.

Yes. Two wheels or four, the process is the same. Apply for a new or used motorcycle loan the same way you would for a car — competitive rates, flexible terms, fast decisions. 

Yes, we offer Small Business Auto Loans for both new and used vehicles, to help your business finance a purchase that’s right for your budget and needs. 

Yes. We partner with more than 500 dealers across Michigan and Florida. You can shop, finance, and sign all in one visit with competitive LMCU rates. Find a participating dealership at lmcu.cudlautosmart.com.

Yes. We partner with more than 500 dealers across Michigan and Florida. You can shop, finance, and sign all in one visit with competitive LMCU rates. Find a participating dealership at lmcu.cudlautosmart.com.

Yes, we offer Small Business Equipment & Machinery Loans for both new and used purchases.

Members can use the TruStage links to explore available quote options for Auto & Home Insurance and Life Insurance. TruStage or the issuing insurance company manages quote, coverage, eligibility, and policy details. 

Yes. You can have your paycheck automatically deposited into your Pay Card account through direct deposit for faster access to your money and easier everyday spending.

Yes. Free Checking has no minimum balance requirement — ever. Open your account with whatever you have and keep as little or as much as you'd like. There's no threshold to maintain and no penalty if your balance runs low. 

Yes. Many LMCU checking accounts can be opened online in minutes. Free Checking and Max Checking are both available through LMCU's online account-opening portal. If you prefer to talk through your options first, you can also schedule an appointment or stop into any LMCU branch. 

Yes! Our Doctor Mortgage program is still available to early-career professionals still in residency or having completed their residency program. 

Yes, in addition to HomeAssist, you could also receive up to $10,000 more in down payment assistance through the Michigan State Housing Development Authority (MSHDA).²

Yes! Many homeowners with adjustable-rate mortgages choose to refinance before or during the adjustment period, once market rates have dropped or their living arrangements and budget have stabilized. 

Yes — and it's worth finding out if you should. Aircraft refinancing may help you land a better rate, adjust your loan structure, or simplify your monthly payment. Options depend on the aircraft, remaining balance, and borrower qualifications. Request a quote to see what's possible. 

Yes — and it’s worth finding out if you should. Boat refinancing with LMCU may help you lower your payment, improve your boat loan rates, or bring your loan home to a lender who actually knows your name. Cash recapture options may also be available. A quick conversation with our team can tell you whether it makes sense. 

Yes — and it's worth finding out if you should. RV refinancing may help you lower your payment, improve your rv loan rates, or move your loan to LMCU for a simpler experience. Cash recapture options may also be available. A quick conversation with our team can tell you whether it makes sense. 

Yes. Duplicate statements are available at any branch, or our Member Services team can mail a copy to you. There is a $5.00 fee per statement copy. That fee is waived for members with a VIP M.O.R.E. Score.

Yes, and it’s one of the more common things we help members do. An IRA rollover lets you move funds from an old employer’s 401(k) or another IRA into your LMCU IRA — without triggering taxes or penalties, as long as it’s done correctly. It’s a smart way to consolidate old retirement accounts in one place so nothing gets lost in the shuffle. Schedule an appointment and we’ll walk you through the process step by step.

Yes, our ACH Disbursement services support one-time or recurring payments, making them ideal for scheduled payments like employee payroll and vendor payments. You can set your payment dates in advance and automate recurring payment cycles.

Yes! You can add eligible accounts from other financial institutions, so you can get a comprehensive look at all your finances. Please note that compatibility may vary by financial institution and account type.

Yes. Wire Origination lets you set up and send wires from your account online, giving your business more flexibility, transparency, and security when sending money domestically or internationally. Contact the Treasury Management team at (833) 649-2106 to get started.

Yes. Dual approval, per-user permissions, and dollar limits are configured when we set up your access, and you can change them as your team changes. Digital tokens add another layer on high-value transactions (never share this token with anyone over the phone. LMCU will never ask you for your token). 

Yes — and honestly, it's one of the smarter moves you can make. Auto Pay handles your monthly payment automatically so you never have to think about it. Set it up in Online Banking and you're done. One less thing on your mental checklist. 

Yes, it can help to set up multiple forms of overdraft protection, so that even if, for example, your savings account doesn’t have enough funds to cover an overdraft, Courtesy Pay can still protect you.

Absolutely! You can schedule one-time or recurring payments, as well as set up Bill Pay alerts to be notified when payments are processed, payees are added, and more.  

Once you’re logged into Bill Pay, go to My Account and select View Alerts to manage your alert preferences. 

Yes — and you should, if that’s what your customers prefer. The goal isn’t to get rid of paper. It’s to stop driving it to a branch. Remote Deposit Capture, Lockbox, and SafePoint Vault Services each solve a different version of that problem. 

Yes. If you have access to Online or Mobile Banking, you may be able to temporarily disable your card to help prevent unauthorized use. You can also use eAlerts or account alerts to help monitor activity on your account. You should still report your card as lost or stolen right away by calling us. 

No, our Budget Tool is intended for budgeting and financial tracking. To transfer money or pay bills, please use our Transfer and Bill Pay tools within Online Banking or our mobile app. 

We do not allow members to wire money to or from P.O. box addresses.

Yes to both! A Renovation Mortgage can be used to fix up a new home you’re purchasing or to renovate your current home by refinancing and bundling renovation costs into your existing mortgage. 

Yes, VA loans have a lifetime benefit. This means you can restore your total lending entitlement after selling your home, or you can even keep multiple VA loans at once, so long as you meet lender requirements and don’t exceed your entitlement limits. 

In many cases, yes. You can request an alternate name you regularly use, as long as it aligns closely enough with your legal name to help avoid identification issues. Visit a branch to update your preferred name.

Yes. LMCU provides Max Money Market checks for members — making this a true money market account with check-writing access. Stop into any branch for more information. 

Honestly? Not directly. Your HSA investment account is self-directed, which means the choices are yours. LMCU doesn’t guide your fund selections or make recommendations. 

What we can do is point you to the right resources. The Tools and Education page and the Fund Performance Dashboard both give you performance history, expense ratios, and fund materials like prospectuses and fact sheets. Those are the tools a knowledgeable friend would tell you to read before you start. 

If you’d still like a second opinion, consider speaking with a personal investment advisor.

Yes. You may be able to combine multiple Analysis Checking accounts under one analysis plan to reduce service fees, simplify management, and provide more flexibility when balancing things like activity, services, and eligible balances across accounts. 

Yes! We know it takes a village to run a nonprofit, which is why multiple users, from board members to treasurers, can manage your organization’s finances through your Community Impact checking account. 

Yes. Nonprofit checking accounts typically allow multiple authorized users, such as board members or treasurers, to help manage finances and maintain oversight. 

Your IRA has to be first established under an Insured Money Market Account. Then you can add an IRA CD, which locks in a fixed rate for a set term — predictable, guaranteed growth. An IRA Money Market keeps things more accessible for when you’d rather stay flexible. Your LMCU team can help you get set up with the accounts that make sense for where you are right now.

Usually, no. Personal insurance is not meant to cover business property, business liability, employees, or vehicles used for business. If you own a business or use your home, vehicle, or equipment for business purposes, business insurance may be the better fit. Visit the business insurance page or connect with LMIA for guidance. 

Debit cards, credit cards, PINs, and what to do if something doesn't work right. 

No. The funds available through your HSA investment account are load-waived or no-load. You won’t pay a commission or sales charge to buy or sell them.

No, Coverdell ESAs have no maintenance fees or minimum balance requirements, making them an accessible way to save for a child’s education.

Yes — and it's one of the more underappreciated options out there. As a credit union for student loans, LMCU has partnered with Sallie Mae® to offer private student loan options for undergraduate, career training, and graduate students. 

Credit union school loans work the same way other private student loans do — covering school-certified costs with flexible repayment and cosigner support. The difference is who's in your corner. We're not a national lender with a call center. We're a credit union with 93+ years of helping members figure out their finances. 

Yes, FHA loans require the borrower to pay: 

• An upfront mortgage insurance premium (UFMIP) 
• An additional monthly payment for mortgage insurance 

No. Your HSA balance is yours until you spend it. Funds roll over every year with no deadline and no use-it-or-lose-it pressure. They’ll keep earning interest and growing in the background until you need them, which could be next year or twenty years from now.

No, Rural Development Construction Mortgages are available to all homebuyers who meet the program’s income and property eligibility requirements.

No, Rural Development Mortgages are available to all homebuyers who meet the program’s income and property eligibility requirements. 

No. If your system exports NACHA-formatted files, you can upload them directly. If it doesn’t, you can build and save payment templates in Business Plus Online Banking and reuse them.

You also don’t have to move everything at once. Most businesses start with one payment type — usually payroll or a recurring vendor — and add the rest once it’s running. 

No. Creating a 4-digit personal PIN is optional. If you choose to set one up, the LMCU app can generate a longer, even more secure 10-digit code for you to use when signing in.

Yes, you are still responsible for your skipped payment, as it is deferred, not forgiven. Skipping a payment extends your loan, as the skipped payment is added to the end of your term.  

Interest will continue to accrue on the outstanding balance, which may increase the loan’s total cost over time. If you have ACH or automatic payments set up, you will still need to cancel that skipped monthly payment in time. 

No! Qualifying first-time homebuyers can use the down payment assistance they receive without any repayment. 

A down payment isn’t always required, but it often works in your favor. A larger down payment can lower your monthly payment, reduce the total amount you’re financing, and may help with your rate. Think of it like leaving the dock with a full tank — you start the trip in a better position. 

No, the main benefit of a Rural Development Construction Mortgage from the USDA and LMCU is 100% financing¹.This means that buyers are not required to provide a down payment!

A down payment isn't always required for RV financing, but putting money down often works in your favor. A larger down payment can lower your monthly payment, reduce the total amount financed, and strengthen your loan-to-value position. Think of it like packing lighter — you move faster and more comfortably. 

Yes — and that’s actually a feature, not a hoop. Michigan Saves authorized contractors are vetted, qualified professionals who know the program requirements. Starting with a contractor first ensures your project qualifies, your quote is accurate, and the financing process moves smoothly from approval to completion. 

Not necessarily — that’s one of the most common misconceptions. An unsecured home improvement loan lets you borrow without putting your home on the line. It’s based on your credit and income, not how much equity you’ve built up. If you do have equity, a home equity loan or HELOC may offer a lower rate on a larger amount. The right answer depends on your project, your timeline, and how comfortable you are using your home as collateral. We’ll help you think it through. 

Yes. eAlerts are set up and managed through our Online Banking platform, so you’ll need Online Banking access to create, update, or remove alerts. 

Our team would be happy to help connect you and your team with the physical and digital infrastructure you need to accept more payments. Reach out today to get started. 

Yes. Our Mobile Authenticator uses the LMCU mobile app to generate your one-time code. Before using our Mobile Authenticator, make sure you have the latest version of the LMCU app and have signed in to it at least once.

All homebuyers, whether it’s your first home, your second, or beyond, can apply for HomePlus. 

MSHDA loans are designed with first-time homebuyers in mind, but repeat buyers may still qualify if they are purchasing homes in specific areas or pairing their MSHDA loan with certain loan programs. Consult your loan officer to confirm your eligibility. 

Just in case of transaction errors, we recommend that you retain your original hard-copy checks for a minimum of 90 days. After that, you can dispose of them by shredding, or using another secure method.

Yes. Hold the original checks for at least 90 days. After that you can shred them, or dispose of them by another secure method. 

Yes. LMCU membership is established through a Member Savings account, which represents your ownership share in the credit union. This is standard practice at credit unions and is different from product-bundling requirements you might find at a bank. The savings account is the foundation of your membership — not a condition of getting better rates. 

No, Wallet Wisdom Insights is available within LMCU Online Banking and our mobile app, right alongside the everyday banking tools you already use.

At least one borrower must currently be employed full-time in designated expert professions, employed part-time in designated hero professions listed, or a military personnel or veteran. 

Yes, once you’re managing multiple accounts, payments, and risks become more complex, Treasury Management solutions can help you maintain control, improve efficiency, and support continued growth. 

We assess qualification on a case-by-case basis, as we’ll assess your available home equity, home value, current mortgage balance, credit history, income, and ability to repay.

Typically, though, you’ll need a minimum credit score of 620, and your combined loan-to-home-value ratio must be under 80%.

Most primary or secondary homes located in Michigan or Florida are eligible, but our home equity specialists will review both your application and property details to confirm eligibility.

Both LMCU’s HomeAssist program and MSHDA loans have unique income, location, educational, and residence qualifications. Please visit their respective pages for detailed specifics.

We offer SBA loans to small businesses based in Michigan and Florida. We approve individual businesses on a case-by-case basis, but baseline qualifications typically include: 

• A personal credit score of 680+ 
• A for‑profit business status 
• A U.S. citizen
• At least two years of tax returns on record 

Yes, points expire five (5) years after the date they were issued, at the end of that month. 

As long as your student loan debts are deferred, they won’t affect your loan qualification or financing amount (as calculated by your debt-to-income ratio). 

Yes. Because funds are automatically transferred to cover transactions, sweeps help ensure the exact amount needed is available when payments process, which reduces the risk of overdrafts and the fees that come with them. 

Yes, down payment received from MSHDA is still a loan, and is technically considered a second mortgage that exists alongside your first mortgage. However, a MSHDA loan typically accrues 0% of interest and doesn’t require monthly payments.  

Repayment of a MSHDA loan is deferred until you: 

• Sell your home 
• Refinance your mortgage 
• Pay off your first mortgage 
• Change your homes occupancy 

No. If you’re interested in a business checking account with Treasury Management services built in, you may be interested in our Analysis Checking account. 

No, Business Performance Checking is primarily designed around its ease of use and higher monthly transaction capacity. If earning interest is your business’s priority, our Business Interest Checking account may be a better fit. 

No. If you’re interested in a business checking account with Treasury Management services built in, consider checking out our Analysis Checking account. 

We try to keep this simple, too: there’s no minimum balance required to open a Business Member Savings account, but you need to keep up a daily balance of $300 or more to avoid paying a $5 monthly fee. 

Additionally, if your business isn’t already an LMCU member, we will require a one-time, $5 membership fee. 

Free Checking doesn't earn interest. If that's important to you, Max Checking earns 4.00% APY on balances up to $15,000 which works out to nearly $600 more per year. 

Yes, really! HomePlus offers up to 100% down payment financing for qualified homebuyers.

Yes. Investor Checking is an interest checking account designed for members who want to keep cash accessible while earning more on qualifying balances. It can be a strong fit if you want funds available between investment opportunities instead of locking them away.

No. LifeLock identity protection is a supplemental benefit — it monitors your identity beyond your LMCU accounts. But if you suspect fraud on your LMCU account specifically, contact us directly. That's always the right first move.

If you're looking for SBA 504 loans or a conventional commercial loan, our commercial lending team is ready to assist. We'll work with you to structure a loan package that fits your specific needs.

Yes. LMCU's Free Checking is exactly what it sounds like: no monthly fee, no minimum balance, and no requirements to maintain it. For banks in Michigan with free checking, the fine print often tells a different story. LMCU's Free Checking is genuinely free — and comes with a debit card, online banking, and access to 55,000+ Allpoint ATMs.

Yes. LMCU offers IRA and HSA CDs alongside standard CD terms. These can be a smart fit for members looking to pair the predictability of a fixed-rate CD with the tax advantages of an IRA or HSA account. 

Yes. LMCU members may receive information about TruStage Auto & Home Insurance because LMCU makes select third-party insurance options available to eligible members. TruStage manages the quote process and can help members explore auto and home insurance options from leading insurance companies. Coverage, features, discounts, eligibility, servicing, and availability may vary by state and carrier. If you want help comparing personal auto or home insurance options more broadly, start with LMIA. 

LMCU members may receive information about TruStage Life Insurance because LMCU makes select third-party insurance options available to eligible members. TruStage handles eligibility, quotes, coverage details, and servicing for its life insurance options, which may include term, whole, and guaranteed acceptance coverage. If you’re not sure where to start with life insurance or broader personal coverage, LMIA can help you compare options. 

LMCU's vacant land loan is available for parcels where the intent is to build a primary or secondary residence — not recreational or investment-only land. If you're purchasing land for hunting, farming, or recreational use without plans to build a permanent home, this particular loan may not be the right fit.  Not sure which path makes sense for your situation? A loan officer can help you figure out the best route based on what you're planning to do with the property. 

Our SBA lending team provides SBA 7(a) loans to business owners who are buying an SBA-approved franchise or a business that has been operating for over two years from first sale.

No. LMCU makesTruStage referral options available to eligible members, but insurance is not sold, issued, or guaranteed by LMCU or any financial institution.

Yes, our Business Enhanced Checking account charges a $15 monthly maintenance fee, but this fee is waived if your business has a monthly balance of $10,000 or more. 

Yes, our Business Interest Checking account charges a $30 monthly maintenance fee, but this fee is waived on average monthly balances of $20,000+. 

Yes, our above coverage is only the beginning. 

LMIA’s experts can also help businesses explore options like: 

• Commercial umbrella
• Bonds
• Lessor’s risk
• Employment practices
• Special event coverage 

If you’re not sure where something fits, feel free to ask, and LMIA can help point you in the right direction. 

No. LMIA is an independent insurance agency, so it can shop multiple carriers and help you compare coverage, pricing, and value. That gives you more room to find coverage that fits instead of starting with only one company or one quote. 

No. There is no monthly fee and no minimum balance required. Even if you don't meet the monthly requirements to earn interest, you won't be charged a monthly fee.

Any business looking for a dedicated place to start building its reserves could benefit from a business savings account. These reserves can prepare your business for unexpected expenses, stay organized, and plan for future growth without impacting your everyday cash flow. 

Yes. Full/in-motion insurance coverage is required, bound and effective as of the loan funding date, with a lien holder endorsement. The coverage amount is tied to your loan amount — the full balance needs to be covered after breach of warranty. Questions about what that means for your specific aircraft? Contact our team before you apply. 

Yes. Youth Savings Accounts are connected to the parent or guardian’s LMCU membership. A parent or guardian needs to be a joint owner on the entire membership. It’s a small step that keeps the account properly set up for a minor. 

Access to Wallet Wisdom Insights is free with your LMCU membership. Your carrier's standard data and text message rates may apply.

A “traditional,” fixed-rate home equity loan and a HELOC both let you borrow against your home’s equity, but they work differently. A fixed-rate home equity loan provides a lump sum at a fixed rate, while a HELOC gives you flexible access to a line of credit.

A HELOC only charges interest on the funds you draw, while you're responsible for the full approved amount of a fixed home equity loan.

A fixed-rate home equity loan is likely a better choice if you:

• Know exactly how much funding you need
• Want to lock in a certain rate that won’t change 
• Want predictable monthly payments
• Want to consolidate debt with a structured plan

A HELOC could be better if you need funds for:

• An ongoing renovation  
• A project that may have unexpected costs
• A project whose budget and scope can’t be accurately estimated

When comparing a fixed-rate home equity loan vs a HELOC, the better option ultimately depends on your goals, timeline, and comfort with fixed rates vs changing payments.

Learn how to recognize fraud, protect your information, and take action if your personal or account information may be at risk. 

A HELOC and a traditional, fixed-rate home equity loan both let you borrow against your home’s equity, but they work differently. A HELOC gives you flexible access to a line of credit, while a home equity loan provides a lump sum at a fixed rate.

A HELOC only charges interest on the funds you draw, while you're responsible for the full approved amount of a fixed home equity loan.

A HELOC and a traditional, fixed-rate home equity loan both let you borrow against your home’s equity, but they work differently. A HELOC gives you flexible access to a line of credit, while a home equity loan provides a lump sum at a fixed rate.

A HELOC is likely a better choice if you need funds for:

• An ongoing renovation  
• A project that may have unexpected costs 
• A project whose budget and scope can’t be accurately estimated
• Consolidating debt, as HELOC rates are typically lower 

A fixed home equity loan could be a better choice if you: 

• Know exactly how much funding you need 
• Want to lock in a certain rate that won’t change 
• Want predictable monthly payments

When comparing a HELOC vs a fixed-rate home equity loan, the better option ultimately depends on your goals, timeline, and comfort with changing payments vs fixed rates.

Bill Pay payments are sent either electronically or by paper check. Most are delivered electronically through a secure transmission, but some are mailed through the U.S. Postal Service, which can affect how quickly the payment reaches its destination. 

Savings accounts keep your funds accessible at any time. CDs require you to commit funds for a set term in exchange for a fixed, typically higher rate. If you have money you don’t expect to need for a while, a certificate of deposit can put it to work more effectively.

In addition to our signature one-time close approach to construction loans, we also maintain strong relationships with top builders. This allows us to: 

• Connect you with the best builder for your project, if you don’t already have one in mind. 
• Simplify the activation process, reducing paperwork and hassle for both you and the builder. That way, work can start — and finish — sooner. 

Your HELOC payment is based on how much of your available credit line you've borrowed, your interest rate, and where you are in the life of your loan. 

During the draw period, you'll typically make monthly payments based on your outstanding balance and accrued interest. Because your balance can increase or decrease as you borrow and repay funds, your payment amount may change over time. If you pay down your balance during the draw period, those funds become available to use again.

Once the draw period ends, you'll enter the repayment period, when you'll repay the remaining principal and interest according to your loan terms.

Your monthly home equity loan payment is based on the amount you borrow, your interest rate, and your repayment term.

With a fixed-rate home equity loan, your principal and interest payment stays the same over the life of the loan, which can make budgeting easier.

Fixed-rate mortgage payments are calculated so that your interest and principal amounts are paid off proportionally over the term of the loan. 

Rather than being paid upfront, renovation funds are placed into an escrow account and disbursed as needed, to ensure that funds are used specifically for approved improvements.

A cosigner is usually a parent, guardian, or trusted adult who agrees to share responsibility for the student loan. When it comes to cosigner student loans, applying with a creditworthy cosigner may improve your chances of approval or help you qualify for better terms.   

In some cases, a cosigner may be required. This includes students who are not U.S. citizens or permanent residents and who meet the stated residency and school attendance requirements. Before anyone signs on, it's worth making sure both borrower and cosigner understand what they're committing to. 

Our Business Enhanced Checking comes with free digital and mobile banking access.

Through LMCU Online Banking and our official LMCU mobile app, you can review your balance, monitor account activity, and make transactions. 

Our Business Performance Checking comes with free digital and mobile banking access. 

Through LMCU Online Banking and our official LMCU mobile app, you can review your balance, monitor account activity, and make transactions. 

Our Business Standard Checking comes with free digital and mobile banking access.

Through LMCU Online Banking and our official LMCU mobile app, you can review your balance, monitor account activity, and make transactions. 

Our Community Impact Checking comes with free digital and mobile banking access. 

Through LMCU Online Banking and our official LMCU mobile app, you can review your balance, monitor account activity, and make transactions. 

Access through ATM, Visa Debit Card, Online, Mobile & Phone Banking.

We also offer Savings Backup as an additional form of overdraft protection. When enabled, Savings Backup automatically transfers money in $100 increments from your savings account into your checking account to cover an overdraft. To set up Savings Backup, call (800) 242-9790 or visit an LMCU branch near you. 

ATM & debit coverage for Courtesy Pay requires a manual opt-in. Please give us a call to opt in at (800) 242-9790

Please contact our Wire Department at (800) 242-9790 Ext. 9950 with any questions you may have about wire transfers, or visit our Receiving Wire Transfers page to learn more about how you can make sure incoming wires reach your account smoothly.

Two levers: longer loan term or bigger down payment. Either one moves the number. The tradeoff is that a longer term means more interest paid over time, so it's worth running the calculator before deciding which direction to pull. 

You can choose to receive eAlerts via email, text message, or both. Standard message and data rates from your mobile carrier may apply.

That depends on the covered event and the protection you’ve selected, but Loan Protection may help cover your monthly loan payments while you’re unable to pay, or cancel part or all of your loan balance.  

Review our product details carefully to understand how coverage works. If you still have questions, contact us or visit your local LMCU branch. 

Employees with an HSA can use their funds for qualified medical expenses by using a debit card (included with our HSA program), checks, and digital banking tools.

In addition to these personalized insights and notifications, Wallet Wisdom Insights also includes money management tools that can help you budget, work toward savings goals, keep an eye on what you’re paying for subscriptions, and make more informed money decisions over time. 

Treasury solutions help accelerate incoming payments, automate outgoing payments, and make sure your funds get the highest possible returns across your accounts. This makes your cash flow more predictable, while offering more actionable insight into your financial position.

Wallet Wisdom Insights is now available in LMCU Online Banking and the LMCU Mobile App. For the best experience in the app, make sure you’re using the latest version. 

Every digital wallet app is a little different, so open Apple Pay, Google Pay, or Samsung Wallet on your compatible device and follow the prompts to add your eligible LMCU card.  

You may be asked to verify your card during setup before you can start using it. 

Apply online anytime — it only takes a few minutes and a quick decision follows. Prefer to talk to someone first? Visit any branch or schedule an appointment. Either way, we'll walk you through it without the runaround. 

There are a few easy ways: maintain a $300 daily average balance, be a primary member under 24 years of age, have direct deposit coming into the account, reach VIP Status, or have other LMCU accounts such as a checking account, loan, or CD under the same membership. 

Secure cash handling through your SafePoint Vault reduces the number of trips you need to take to an LMCU branch, while keeping your employees safe and accelerating access to your funds.

Log in to online banking and look under Services in the main menu. Your MORE score reflects your accounts and activity with LMCU. It's also what determines your relationship level and the perks that come with it.

When you access your HSA investment portal, select the “liquidate and close” option to begin closing your account.

It’s easy: just keep $100 or more in your account, and you’ll earn interest each month at a rate of 0.25% APY! 

Max Savings uses a tiered interest rate structure. The higher your balance, the higher your rate. Interest is computed daily and paid quarterly. No interest is earned on balances below $100. Rates vary and are based on local market conditions. 

Every time you use your Max Rewards card, you’ll automatically earn points.  

You’ll earn 3 points per $1 spent on gas and EV charging, 2 points per $1 spent at grocery stores, and 1 point per $1 spent on everything else. Max Rewards Visa Signature cardholders also earn 2 points per $1 spent at restaurants.  

Points can then be redeemed for cash back and other rewards. 

Start with a monthly payment number that doesn't make you wince. Then work backward: factor in your down payment, any trade-in value, your loan term, and an estimated rate. That usually gets you within shouting distance of a realistic price range. 

Getting preapproved removes a lot of the math — and most of the uncertainty. Once you know what LMCU will lend you and at what rate, you're shopping in the right lane from the start. 

In Online Banking: 

• Log in using your username and password.
• Select the account you’d like the wire to be sent to.
• Find your MICR number in the Account Details box on the right side of the screen. 

In our mobile app: 

• Log in using your username and password.
• Select Account Info from the menu.
• Select MICR/Routing Number.
• Find the account you want and its corresponding MICR number in the list. 

Your payoff amount is available in Online Banking. One thing worth knowing: your payoff amount isn't the same as your current loan balance. Because interest accrues daily, the official payoff figure is calculated through a specific date. For the most accurate number, contact us at (844) 301-8899 — we'll give you an up-to-date quote including any applicable interest. 

Download the LMCU mobile app from the Apple App Store or Google Play store and log in using your same Online Banking username and password.

Start with your project. What does it cost? What’s the timeline? Once you’ve got a rough number, the home improvement loan calculator can show you what different loan amounts and terms look like as a monthly payment. From there, comparing a personal loan against home equity options — or Michigan Saves if the project qualifies — gets a lot easier. If you’d rather talk it through first, schedule an appointment. 

Register for, or sign in to, LMCU Online Banking, select Bill Pay from the main menu, and follow the prompts to complete setup.  

Once you're in, you can add payees, choose a payment date, and schedule one-time or recurring payments from Online Banking or the mobile app. 

Click here to enroll in Business Online Banking and get started.  

Enroll in Online Banking here using your account number and Social Security Number, then choose your username and password.

Log in to Online Banking and choose Budget Tool from the menu, or find it in our mobile app under Financial Tools. Your LMCU accounts will begin syncing automatically, and you can add eligible accounts from other financial institutions for a more complete financial picture.

Contact us or call (833) 649-2106 to learn more and set up Wire Origination

We offer CD rate specials to show you the best CD rate for various term lengths. LMCU also offers added rewards and perks for members who bundle products and become VIPs to earn more. Visit the CD rates page to learn more about CD rates and rewards perks.

Joining LMCU is a three-step process: confirm your eligibility, open a Member Savings account to establish your membership share, and fund it with a small initial deposit. You can join our credit union online at lmcu.org, stop into any LMCU branch, or schedule an appointment. Once you're a member, you can add checking, apply for loans, and explore all available products. 

If your business mainly needs everyday access to your accounts and basic services like withdrawals and transfers, Business Online Banking is likely the simple solution you’re looking for. 

If you need more advanced tools for paying employees, managing your cash flow, and preventing fraud, leveling up to Business Plus could be right for you. 

To qualify for HomeAssist, your total household income must be less than or equal to 120% of the local Area Median Income (AMI). Since eligibility is based on local AMI, which varies by county, a loan officer near you can confirm your exact qualification. 

The right solutions depend on your business’s size, transaction volume, and operational needs. An experienced member of our Treasury Management team would be happy to review your workflows and recommend a customized mix of services that can improve efficiency, reduce risk, and support your goals.

A few good options: Log in to Online Banking to pay from your LMCU account, set up one-time or recurring payments — including payments from another financial institution — or mail a check to: PO Box 2848, Grand Rapids, MI 49501. Prefer face time? Stop into any LMCU branch and we'll take care of it there. 

We make it easy to pay your mortgage through our Mortgage Service Center in Online Banking or our mobile app.

Visit our Mortgage Service Center hub for more info about setting up and accessing it for yourself.

Go to the Invest menu and select Move Money. Enter the dollar amount you want to transfer back to your base HSA, then click Submit Request. 

Your HSA investments will be liquidated on a pro-rata basis across your funds to generate the cash. One technical note: requests that result in the liquidation of 90% or more of a mutual fund will be processed based on the number of units calculated using the previous market day’s net asset value (NAV). 

The money will be back in your HSA and available for healthcare expenses once the transfer processes. This may take up to 4 market days.

Since HSA investments are self-directed, we don’t have access to move funds on behalf of members. To move the funds from HSA to HSA investment, you can access the HSA investment portal from the transfer tab in online banking, then input how much you would like to move.

You can open a Member Savings account online or in person at any LMCU branch. All it takes is a $5 opening deposit. 

The first step is to connect with a local LMCU commercial lender. They’ll walk you through the application process and begin to evaluate your credit, business financials, time in operation, and the value of your collateral to determine the loan amount you qualify for.  

Since we review applications and make our final approval decisions locally, you can get approved faster, with a personalized approach and a tailored loan package. 

Call us right away at (800) 242-9790. If a card is involved, freeze it in the LMCU mobile app or Online Banking first, then call. You can also start a report on our Report Fraud page.

To request a mortgage payoff quote, please submit the request along with the borrower’s authorization to:  

Fax: (616) 643-0720  

Email: MortgagePayoffs@LMCU.org  

Or USPS:

Lake Michigan Credit Union
4027 Lake Drive SE  
Grand Rapids, MI 49546 

To send wires from your business account, please visit our Wire Origination page or contact our Wire Department using the number below for help.  

You’ll need wiring instructions from the receiving financial institution, beneficiary details, a physical address, and guaranteed funds available.  

Turn on the mobile authenticator in the LMCU app. It sends a one-time passcode that stands in for your password when you sign in to Online Banking, generated on the spot and gone again fast. Learn more.

We allow businesses to upload NACHA-formatted files from their accounting system, or to create and save templates within LMCU Business Plus Online Banking to simplify setup and ongoing payment processing. 

To get started with ACH Collection for your business, contact our Treasury Management team.

Courtesy Pay is enabled automatically for LMCU checking accounts in good standing, 30 days after the account is opened. 

Eligible accounts in good standing are automatically enrolled in Courtesy Pay 30 days after they’re opened. 

Debit coverage requires a manual opt-in. 

To set up Savings Backup, call (800) 242-9790 or visit an LMCU branch near you. 

Log in to Online Banking, select Services, then choose eAlert Settings. From there, choose the eAlerts you’d like to receive and follow the prompts to finish setup.

For account and credit card eStatements: 

• Log in to Online Banking 
• Select Services
• Then choose Sign Up or Cancel eStatements/eNotices
• Select Electronic for the accounts you want enrolled for eStatements, then save your changes. 
• You’ll receive an email asking you to confirm your email address and finalize setup.  

For mortgage eStatements: 

• Select your mortgage in the Loans section 
• Choose Account Management
• Select Document Center
• On the right side, update your delivery preferences and select Let’s Do This. 

If you’re new to digital banking, you can enroll using your LMCU account number and Social Security Number.  

If you already use Online Banking, you can simply sign in to our app using your same username and password.  

The LMCU app is available for both Apple and Android devices. 

To switch back to paper statements: 

• Log in to Online Banking 
• Select Services
• Choose Sign Up or Cancel eStatements/eNotices
• Under Statement Preferences, change your delivery setting from Electronic to By Mail, then save your changes. 

If you already have direct deposit set up somewhere else, update your employer or payment provider with your LMCU account details. Keep your previous account open until your first deposit arrives in your LMCU account, so you don’t risk a delay.

To track spending and view your account activity, use the Wallet Wisdom Insights in the LMCU Mobile App. You can also link accounts from other financial institutions to see more of your finances in one place.

Go to Invest > Manage Portfolio > Transfer Between Investments. From there: 

1. Choose whether to transfer by dollars or percentages. (If you’re moving more than 90% out of a fund, percentages are the safer way to go.) 
2. Select the source fund(s) and the amount or percentage to move, then click Continue. 
3. Select the destination fund(s) and the amount or percentage to receive, then click Continue. 
4. Review your request and click Complete Transfer. 

If your insurance coverage has changed, it's important to update LMCU promptly — your loan agreement requires keeping coverage current. Call us at (844) 301-8899, email Loans@LMCU.org, or stop into any branch and we'll walk you through exactly where to send your documents. 

Head to the upper-right corner of the HSA investment portal and click Account. Open the Update Email Address dropdown, enter your new address, and click Update Email Address. Done.

To view current eStatements: 

• Log in to Online Banking 
• Select eStatements under Quick Links or by selecting Services and choosing Access Current Statements
• Statements open as PDF files in a pop-up window.  

Statements older than 12 months may not be available online, so save copies for your records for safekeeping. 

Because your payments are processed and deposited by us as soon as they’re received, Lockbox Services reduce mail and processing delays, helping you access funds faster and improve cash flow timing.

In general, the shorter your term, the higher your monthly payment will be, because you have fewer years to repay your balance. The tradeoff is that you can pay off your mortgage sooner and potentially save money over the lifetime of your loan. FinishLine lets you optimize this by selecting a term that balances long-term savings with realistic monthly payments.

When your account balance exceeds the target amount, surplus funds are automatically transferred into a higher-interest-bearing account. This allows your business to earn more on your idle cash without impacting any day-to-day operations.

Max Money Market uses a tiered interest rate structure. The higher your balance, the higher your rate. Interest is computed daily and paid monthly. Rates vary and are based on local money market conditions, so they may change after account opening. 

Contributions can be sent electronically using LMCU ACH Disbursement, the same service businesses use for payroll and vendor payments. That lets you schedule recurring contributions alongside your existing payroll cycle. 

Positive Pay compares checks presented for payment against the issue file you send us and flags anything that doesn’t match. Reverse Positive Pay sends you a daily report of everything that cleared the business day before. On the ACH side, dual approvals, user access controls, and multi-factor authentication apply to every batch. 

Once your HELOC is approved, you’ll use and pay back the funds in two phases: a draw period and a repayment period.

Once the 15-year repayment period begins, you can no longer draw funds and must repay the entire remaining balance based on your loan terms.

Your funds can be accessed and repaid by check, debit card, online banking, or at any LMCU branch location.

Good transactions take trust. LMCU safeguards the funds and distributes them only according to the terms of the agreement, helping ensure a smooth, transparent process.

By keeping funds separated, clearly documenting holds, and structuring disbursement processes, Escrow Management makes it easier to meet regulatory, contractual, or fiduciary requirements. This is particularly useful for individualized accounts, making it easy to generate detailed reports that reflect each account's unique profile and activity.

Most Michigan checking accounts at big banks come with a catch: earn a better rate, but only if you bundle a savings account or maintain a relationship balance. LMCU's Max Checking earns up to 4.00% APY without a required banking relationship. No bundling. No relationship balance. Just a credit union checking account that earns on its own.

Most Florida checking accounts at big banks come with a catch: earn a better rate, but only if you bundle a savings account or maintain a relationship balance. LMCU's Max Checking earns up to 4.00% APY without a required banking relationship. No bundling. No relationship balance. Just a credit union checking account that earns on its own.

We look at dealer pricing, market guides, and marine surveys when needed — the same practical factors any smart buyer would consider. Whether you’re financing a brand-new pontoon or a used boat, we take a straightforward approach. If something’s unusual about the boat you’re financing, we’ll just talk it through. 

Whether you're financing a brand-new Class A or a used RV loan on a fifth wheel, we look at dealer pricing, market guides, and the RV's age, condition, and features — the same factors any practical buyer would consider. It's a straightforward process, and if something's unusual about the RV you're financing, we'll just talk it through. 

We offer fraud education, account security guidance, and resources to help you spot scams, protect your personal information, and bank with more confidence. Visit the Security Center or contact us directly for hands-on help.

Multi-factor authentication (MFA) requires a second form of verification — a code sent to your phone, a mobile authenticator app — before granting account access. Even if someone has your password, MFA helps block unauthorized entry.

Positive Pay monitors your electronic transactions and compares them against authorized vendors or preapproved criteria. Unauthorized ACH entries can be flagged and rejected, helping protect your accounts from fraudulent withdrawals. 

Repayment is flexible: you’ll have minimum required payments on the funds you’ve borrowed, as you pay down your balance, your available credit is restored for future use.

Rural Development Construction Mortgages uses a construction-to-permanent structure with a one-time close, meaning that your loan’s approved funds are used to purchase land and build your new home. 

Once construction is complete, the loan automatically converts into a 30-year fixed-rate mortgage. And since everything is handled in one loan, you avoid multiple closings and additional fees. 

Payments to and from the account process normally throughout the day. 

At the end of the business day, the sweep runs: funds paid out are covered from your main account, and funds paid in are moved over to it. A ZBA lands at zero; a Target Balance Sweep lands on your target. Either way, the manual transfers disappear. 

Investor Checking uses tiered rates, which means higher balances can earn higher rates. If you’re looking for a tiered interest checking account, this account is designed to reward larger balances while still giving you convenient access to your money. 

It’s simple: the higher your Business Max Money Market account’s balance, the higher your interest rate! 

In addition to improving your month-to-month earnings, Treasury Management solutions also include fraud prevention tools — like Positive Pay — that monitor transactions, detect suspicious activity, and give you control over payment approvals. 

Earlier is better. Our Community Relations team reviews requests around other commitments, and some types of support — like volunteer scheduling — need more lead time than others. 

If your event or program has a firm date, aim to submit your sponsorship request form at least six to eight weeks in advance. If timing is flexible, earlier still helps. 

Payments are generally received within 2 to 7 days, depending on whether they are sent electronically or by paper check. So it’s best to schedule your payment early enough to allow for processing and mail time, especially if the payment will be sent by check.

Remote Deposit Capture extends your banking day to 7 p.m. ET, so deposits made late in the day still count that day. Lockbox items are processed and deposited the same day we pick them up. ACH collections follow standard clearing timelines, with same-day ACH available in certain cases.

Approval timelines vary on a loan-by-loan basis, but by working with local lender like us, you can enjoy overall faster, more responsive decision making — helping you move forward sooner without the wait times typical of bigger banks.

Approval timelines vary on a loan-by-loan basis, but by working with local lender like us, you can enjoy overall faster, more responsive decision making — helping you move forward sooner without the wait times typical of bigger banks.

Standard ACH payments complete within one to three business days, depending on when you submit them, with same-day ACH available in certain cases. Wires sent before the daily cutoff move the same business day.

A loan provides a one-time lump sum, while a line of credit lets you borrow only what you need, when you need it — while only paying interest on those funds you withdrew.  

This makes lines of credit better for managing ongoing expenses, like inventory restocks, and for financing projects with uncertain budgets or possible unexpected costs. 

Business checking accounts are built for daily transactions like payments and expenses, while a savings account is designed to hold funds you don’t need right away.  

Here at LMCU, both our business checking accounts and savings accounts are secure, flexible places to keep your business’s money, but our checking accounts prioritize ease of access through checks and debit cards, while accounts like our Business Member Savings account make it easier to earn interest. 

Both accounts help you grow your funds accessibly, but, compared to a business savings account, a money market account offers higher, tiered interest rates based on your balance. 

A personal loan gives you one lump sum upfront, which you repay in fixed installments. A personal line of credit works more like a credit card. You draw what you need, when you need it, up to a set limit, and payments may vary. If you know exactly what you need and want a clear payoff date, a personal loan is usually the better fit. If your needs are ongoing or unpredictable, a line of credit might make more sense. 

The two are very similar, but a Target Balance Sweep maintains a specific, non-zero balance threshold, while a Zero Balance Account is designed to return to exactly zero daily.  

The two account functions also serve different purposes. Target sweeps focus on balancing accessibility with earnings, whereas ZBAs are typically used for cash concentration and account segmentation. 

In construction and project-based agreements, escrow accounts can be used to manage progress payments, retainage, and milestone-based disbursements, all to help ensure funds are released according to the agreed-upon contract terms.

FinishLine is built around payoff flexibility, as you can set your term from 1 to 12 years. While a standard refinance is usually about resetting into a conventional term structure, FinishLine is for homeowners who want a shorter, more customized path toward debt-free homeownership. 

Your interest is computed daily and paid monthly.

Housing is one of our four philanthropic pillars, which means we’re constantly working with the communities we serve to help make homeownership more accessible, equitable, and affordable. This includes: 

• Our HomeAssist down payment assistance program offers up to $10,000 in down payment and closing cost assistance to qualifying first-time homebuyers.⁴ 
• We host free homebuying and homebuilding seminars each year. 
• We sponsor and volunteer with like-minded organizations, including Habitat for Humanity, ICCF Community Homes, and Jubilee Ministries 

Loan Protection is tied directly to your loan. It is separate from health, life, auto, homeowners, or any other insurance policies you may already have.

A CD requires your funds to stay for a set term and may include an early withdrawal penalty. Max Money Market keeps your funds accessible at any time with no penalty for withdrawals — making it a better fit when you want to earn interest without giving up access. 

Both accounts earn tiered interest with no minimum deposit and no monthly fees. The key differences: Max Money Market pays interest monthly and includes check-writing access. Max Savings pays interest quarterly and does not include check writing. If monthly earnings and fund access matter to you, Max Money Market is the stronger choice. 

Most ACH payments are completed within 1–3 business days, depending on when the payment is submitted and the type of transaction.

Wires are typically processed by the end of the business day, if wired before the daily deadline (4:30 p.m. for domestic wires, 2:00 p.m. for international wires). 

However, internationally wired funds may take up to a month before they are available for use. 

Most bill payments made through the Bill Pay tool in Online Banking or our mobile app arrive within 2 to 7 days. You can also turn on Bill Pay alerts to keep up with payment activity and stay organized.

To keep your account safe from prying eyes, each Mobile Authenticator code is only valid for 30 seconds. Once you open the LMCU app, be ready to enter your code on LMCU.org immediately.

Faster than you might expect. Once your application and documentation are in, a credit decision can typically come back within 24–48 hours. After approval, closing can happen in a few business days — depending on how quickly the aircraft-specific paperwork comes together. The goal is to get you in the air, not keep you on the ground. 

Your loan’s timeline will vary based on the size and complexity of your project.

Our market expertise and local decision making allows us to streamline our process when compared to bigger banks, but we also want to take great care to understand your business and your goals, in order to put together the best, custom-fit loan package possible. 

Your loan turnaround timeline can vary based on factors like how quickly you submit the required documentation, how complex the review is, and whether additional steps like title work or a property valuation are deemed necessary.

The best way to keep the process moving quickly is to complete your application fully and provide all requested documents as soon as possible.

HomeAssist operates on a first-come, first-serve basis and is only available while funds last. To see if you qualify, connect with a loan officer today. 

Business Enhanced Checking accountholders get 250 monthly items — which includes deposits, withdrawals, checks, ACH, debit card purchases, and other transactions — for free, as well as up to $20,000 in free currency deposits and withdrawals.

Additional items are $0.40 each, while a 0.10% fee is charged on additional currency deposits and withdrawals. 

Business Performance Checking account holders get 500 monthly items for free — which includes deposits, withdrawals, checks, ACH, debit card purchases, and other transactions — as well as up to $20,000 in free currency deposits and withdrawals. 

Additional items are $0.35 each, while a 0.10% fee is charged on additional currency deposits and withdrawals. 

Community Impact Checking accountholders get 250 monthly items — which includes deposits, withdrawals, checks, ACH, debit card purchases, and other transactions — for free, as well as up to $20,000 in free currency deposits and withdrawals. 

Additional items are $0.40 each, while a 0.10% fee is charged on additional currency deposits and withdrawals. 

An LMCU business specialist can help you determine if this account fits your nonprofit’s expected activity level. 

Eligible buyers can receive up to $10,000 to use toward their down payment and closing costs.¹

Our Small Business Auto Loan amounts vary based on several factors, like the vehicle you want to finance, your business’s financials, and your credit profile.  

Connect with one of our small business lending specialists to determine the right financing structure for your situation. 

We build all our Commercial Real Estate Loan packages around your specific needs. That means your loan size will depend on a number of factors, including your business’s financials, existing obligations, collateral, and your planned property’s income potential.  

As a top commercial lender in both Michigan and Florida, our lending power can accommodate projects big and small — it all starts with a conversation, so reach out to a commercial lender near you to learn more. 

The amount you can borrow with a home equity loan depends on several factors, from your home’s value and your current mortgage balance to the results of your application review.

In general, the more equity you have available in your home, the more you’ll be able to borrow. If you want a quick estimate before you apply, you can use our calculator to estimate your borrowing potential.

We assess qualification on a case-by-case basis, as we’ll assess your available home equity, home value, current mortgage balance, credit history, income, and ability to repay.

Typically, though, you’ll need a minimum credit score of 620, and your combined loan-to-home-value ratio must be under 80%.

Most primary or secondary homes located in Michigan or Florida are eligible, but our home equity specialists will review both your application and property details to confirm eligibility.

Eligible borrowers may borrow up to $5M under the SBA 7(a) program and up to $5M under the SBA 504 program. Total maximum borrowing capacity for one borrower is up to $10M.

Loans are available from $1,000 to $40,000, with terms up to 180 months. There are no prepayment penalties, so if you want to pay it off early, go for it. Rates are competitive and subject to credit approval — visit the Michigan Saves website or contact LMCU for details. 

We assess qualification on a case-by-case basis, as we’ll assess your available home equity, home value, current mortgage balance, credit history, income, and ability to repay.

Typically, though, you’ll need a minimum credit score of 620, and your combined loan-to-home-value ratio must be under 80%.

Most primary or secondary homes located in Michigan or Florida are eligible, but our home equity specialists will review both your application and property details to confirm eligibility.

For most members, current IRA contribution limits are $7,500 per year for those age 49 and under and $8,600 for those age 50 and older — the extra $1,100 is called a catch-up contribution, which is a great name for what it is. Eligibility to contribute to a Roth IRA may also depend on your income level. Limits can change year to year, so it’s worth confirming current IRS guidelines or talking with a financial professional before you contribute. 

A cash-out refinance lets you borrow against the equity you've built — the difference between your home's value and what you still owe. Most lenders allow you to borrow up to 80% of your home's current value, depending on the loan type. The cash is yours to use, but keep in mind: you're increasing your loan balance, which affects your total interest over time. Used wisely for home improvements or consolidating higher-rate debt, it can be a smart move. A loan officer can help you size it right. 

In Michigian:
Michigan borrowers can put as little as 10% down¹ on a construction loan in Michigan — meaningfully lower than what most lenders require. You don't have to have the whole picture figured out to get started. 

Not ready to build yet? You can also purchase a vacant lot with as little as 10% down¹ — lock in your land while you finalize your plans and your builder. Your LMCU loan officer can walk you through both paths. 
 
In Florida:  
Down payment requirements for construction loans in Florida vary by county and borrower qualifications. In select Florida counties, qualified borrowers may put as little as 15% down². 

Because program details and county availability can vary, we always recommend connecting with an LMCU Florida loan officer early — before you're deep into builder conversations. They'll give you the full picture for your specific situation.

It varies based on loan purpose, aircraft type, and your financial profile. For some personal-use aircraft loans, down payments may start around 15%. Final requirements depend on the full transaction details — request a quote and we'll give you a real answer. 

Costs vary depending on the size, complexity, and duration of your transaction, while fees are typically based on the amount your Letter of Credit guarantees. Connect with a lender to get your Letter of Credit pricing. 

Since Analysis Checking plans are customized to the business, there isn’t a one-size-fits-all pricing model. Connect with our Treasury Management team to learn more about building a plan for your business. 

Our handy calculator can help you crunch the numbers on how much home equity you currently have available, and what that means for your potential loan approval.

All balances up to $15,000 are eligible to earn interest at 4.00% APY. Balances beyond $15,000 earn at a different rate. If you typically keep a higher balance and are comparing high-yield checking account options, be sure to review the current Max Checking interest rate on balances above $15,000.

Our Youth Savings Accounts earn up to 3.00% APY on balances from up to $1,000. Any balance above $1,000 earns at the regular savings rate on the amount over that threshold. Rates are subject to change, so check the current rates page for the latest numbers.

While specific cash requirements will vary based on the terms of your loan, in general, in addition to your down payment, you will need funds for closing costs and cash reserves. However, Community Edge is designed to reduce these requirements by offering: 

• $500 off closing costs
• Lower ongoing insurance costs 

Together, this can make your total upfront cost more manageable, giving you, well, an edge when it comes to buying your dream home. 

You can adjust your HSA investments as often as you’d like. Just know that some funds may charge short-term redemption fees or limit how frequently you trade. Check the fund’s prospectus before making frequent moves.

You can skip up to two payments per loan per calendar year. However, those two skipped months cannot be consecutive.

Your balance updates nightly on any day the New York Stock Exchange is open. So while markets are moving in real time, what you see in your account reflects the previous day’s closing values.

It’s a good idea to revisit coverage whenever your business experiences a major change or growth. This includes:  

• Opening a new location 
• Entering a new market 
• Hiring new employees
• Adding vehicles
• Changing locations
• Buying equipment
• Taking on new contracts 

When change happens, LMIA can help review your coverage before your policy renewal. 

Most remote deposits are processed on the same or next business day.

Payments are typically collected and processed daily, with deposits occurring shortly after receipt — often faster than in-house handling thanks to our automated processing workflows.

Your timelines will be unique to your loan, but our lending team prides themselves on their streamlined underwriting, approval, and closing process designed to move things along as quickly and efficiently as possible.

Payment processing typically includes authorization, batching, and settlement, with funds typically deposited into your account within 1–2 business days.

When you’re realigning your account or transferring between investments, keep an eye out for an alert icon next to a fund’s name. Hover over it and you’ll see that fund’s specific trading policy. For the full details, the fund’s prospectus — available through the Resource Links on the Fund Performance Dashboard — has everything you need.

If you’re entering the correct username and/or password but are unable to log in:  
1. Make sure your CAPS lock or NUM lock are not on. Passwords are case sensitive.  
2. If your browser has saved your username or password, try deleting the saved information and entering it manually.  
3. Your account may be locked due to too many invalid login attempts.  

 
For assistance, please use the "Unlock Your Account" link located in the login panel at the top of LMCU.org, visit an LMCU branch near you, or contact our Member Services Department at (800) 242-9790. 

Yes! Our Business Enhanced Checking account is designed for growing businesses that need more flexibility than a basic business checking account offers. 

Business Enhanced Checking is ideal if your business: 

• Has a moderate monthly transaction volume 
• Wants to manage costs carefully and minimize monthly fees  
• Needs access to digital banking tools that support day-to-day cash flow.  

If you’re looking for a business checking account that earns interest, allows for more free monthly items, or offers access to Treasury Management solutions, check out all of our business checking account options. 

Our Business Performance Checking is designed for high-volume businesses who want a checking account that will have their back, without holding them back. 

A Business Performance Checking account could be just what you’re looking for if your business: 

• Has a high monthly transaction volume. 
• Plans to carry an average monthly balance of $20,000+. 
• Needs access to digital banking tools that support day-to-day cash flow.  

If you’re looking for a business checking account that allows for more unlimited monthly items or offers access to Treasury Management solutions, check out all of our business checking account options. 

Digital wallets add security features that help protect your payment information.  

Your actual card number is not shared with the merchant, and purchases are typically confirmed with your device’s passcode, fingerprint, or facial recognition. This keeps your information safer from scammers, card skimmers, and other bad actors. 

Essentially, yes. Christmas Club accounts and Holiday Club accounts are the same type of product. A dedicated seasonal savings account. LMCU calls it Holiday Club to reflect the many occasions members save for: holidays, vacations, birthdays, weddings, and more. 

No. Mortgage loan officers work directly for lenders like us to directly pair you with a mortgage that fits your needs, while a mortgage broker is a middleman who charges commissions to shop around with different lenders to find you a mortgage.

No. Simply put, mortgage loan officers find you the right mortgage that fits your needs, while a real estate agent/realtor finds you the right home that fits your dreams.

Our loan officers maintain relationships with top real estate agents across the areas we serve. We’d love to connect you with a great real estate agent near you if you don’t have one already! 

Yes. The Pay Card is designed for members who want direct deposit, Visa debit access, and mobile banking without the traditional requirements of a checking account.

Smaller projects and borrowers who’d rather not use their home as collateral tend to be a better fit for a personal loan. Larger home remodel loans — a whole-kitchen renovation or an addition — may make more sense with a home equity loan or HELOC if the rates work in your favor. These types of loans use your home as collateral. Compare monthly payments, rates, and payoff timelines before deciding. The calculator can help. 

LMCU personal loans are unsecured, which means you don't need to put up a car, a savings account, or anything else as collateral. Approval is based on factors like your credit history, income, and other lending criteria. If you'd prefer a secured option, ask us about share-secured loans — we can walk you through how they work. 

Yes, SafePoint Vaults use secure, smart safe technology, armored transport, and controlled processing environments to protect your cash from the risks of manual handling and transportation.

A Small Business Equipment & Machinery Loan could be ideal if your business needs essential equipment to: 

• Grow or expand 
• Scale operations
• Improve efficiency
• Stay competitive  

All without incurring a large upfront cost. 

If you’re still unsure. One of our expert local lenders would be happy to connect and talk through a financing plan that’s right for your business’s needs. 

A Small Business Unsecured Term Loan could be ideal if your business needs: 

• Quick access to funding without tying up assets 
• Help managing cash flow
• To cover short-term expenses
• Act quickly on sudden growth opportunities 

For larger loans or loans tailored to more specific purchases, see all our Small Business Loan options. 

Not at all. Once your target balance is established, transfers happen automatically in the background. This automates cash management tasks and provides a more streamlined, hands-off approach to managing your daily account status — protecting you from human error while freeing you up to do more human things. 

Yes. ACH transactions include built-in protections like dual control approvals, user access controls, and multi-factor authentication to help reduce fraud and unauthorized activity. 

Simply put, Analysis Checking is built for businesses that are actively growing and managing multiple financial relationship. This account combines simplified account management with tailored treasury services to support your evolving needs. 

Analysis Checking could be right for your business if you: 

• Have a high volume of monthly transactions 
• Carry a high balance and want to offset possible service charges 
• Are looking for a custom business banking setup 

Some coverage may be required by law, lease agreements, lenders, contracts, or clients. LMIA can help you review what applies to your business, understand what is being requested, and consider where additional protection may make sense.

FinishLine may be a good fit if you: 

• Already have a mortgage with another financial institution 
• Want to shorten your term 
• Want to choose your exact mortgage term  

It may be less suitable if you: 

• Want the lowest possible monthly payment, as shorter terms typically increase monthly payments. 

Usually, no. Standard homeowners insurance typically does not include flood coverage. If you own a home in Florida, live near water, or want extra protection from water-related damage, LMIA can help you compare flood insurance options and understand what may fit your property. 

It can be, depending on how you plan to use the funds. Investor Checking may be a good fit if you want to keep cash liquid between opportunities while still earning interest, along with access to features like Visa debit card, ATM, and digital banking. Investor Checking tends to be a better fit for people to organize their investment dollars in the short term, unlike Max Money Market which is more often a longer-term, higher-balance savings option.

Not at all! Getting started is simple, as we require no contracts, no setup costs, and minimal ongoing administration, so you can offer HSAs as a seamless benefit for your whole team — without any complex management.

If you’re looking for a basic business checking account designed to simplify your monthly cash flow, our Business Standard Checking could be just what you need. It’s a strong fit if you:

• Typically make 50 or fewer transactions per month (includes checks, ACH, and debit card). 
• Make $20,000 or less in currency deposits and withdrawals. 
• Want to avoid monthly checking account fees. 
• Are looking for digital banking tools that make account access easy. 

If you’re looking for a business checking account that earns interest, allows for more free monthly transactions, or offers access to Treasury Management solutions, check out our other business checking account options. 

Yes. Loan Protection is an optional, elective service based on your financial situation, loan type, and comfort level with unexpected risk. 

If you: 

• Want added protection against unexpected life events 
• Rely on steady income to make loan payments
• Want extra peace of mind in case of the unexpected 

Loan Protection could be right for you. 

Yes. Our Lockbox Services rely on secure processing facilities, controlled workflows, and limited internal handling to reduce the risk of fraud and processing errors.

Yes. Max Savings is a tiered savings account that earns higher interest on larger balances. The more you keep in your account, the higher your rate. Rates vary based on market conditions, so check the current APY before opening. 

Michigan Saves is a Michigan-specific program, so it’s not available to members outside the Lower Peninsula. If you’re looking to finance home improvements or energy-efficient upgrades and you’re outside Michigan, contact LMCU to explore other home improvement financing options that may be a fit. 

Not quite. Michigan Saves loans are unsecured home improvement loans — you’re not borrowing against your equity. That means no appraisal, no lien on your home, and a typically faster process than a HELOC or home equity loan. It’s a different tool for a different job. 

Yes! We do not charge a fee to use our mobile app, Text Banking, or Phone Banking. However, please note that your mobile carrier’s standard data and text message rates may apply, depending on your plan.

No. This is important to understand before you get started: mutual funds are not insured by the NCUA or guaranteed by your HSA provider. That means they may lose value. Investing involves risk, and your balance isn’t protected the way your regular HSA savings are. 

Read the fund materials carefully, and consider working with a personal investment advisor if you have questions about whether HSA investing is right for your situation.

Yes. Wallet Wisdom Insights is securely integrated into our digital banking platform and uses your unique financial activity to provide personalized insights within LMCU Online Banking and the LMCU Mobile App. 

As long as your property is a primary or secondary home located in Michigan or Florida, it’s likely eligible, but our home equity specialists will confirm when reviewing your application, 

Yes, we take great care to protect your personal and financial information wherever you interact with LMCU. For more information about how we protect your information, visit our Security Center.

Geographic and property eligibility is determined by the USDA and subject to change, so please consult their website for the most up-to-date information. 

Yes, Remote Deposit Capture uses secure transmission, authentication, and fraud monitoring tools to protect your deposits.  

Your business can also apply internal controls, such as user permissions and approval workflows—to reduce risk.

Target Balance Sweeps are a strong fit for businesses that want to maintain consistent operating balances while earning on excess cash. Likewise, they work well for businesses with predictable cash flow, recurring payments, or seasonal fluctuations. 

If you still aren’t sure, our Treasury Management team would love to meet with you to find out if Target Balance Sweeps could be right for your business’s needs. 

Yes. Face ID, Touch ID, fingerprint and facial recognition all work here, backed by encryption, session timeouts and constant traffic monitoring. Add the mobile authenticator for a one-time passcode at sign in. 

No. LMCU’s Employer Group HSA program has no contract and no minimum participation requirement, so you can offer it regardless of the size of your team or how many employees choose to enroll. 

Yes. There’s a $30 annual fee for your HSA investment account. It’s deducted on or about the first business day of the month following your first deposit, and it’s spread across your current investment holdings on a pro-rata basis. 

That’s one annual charge, split proportionally based on how your balance is allocated.

No fees, no minimums. We suggest opening with at least a $5 deposit to get started, but there’s no requirement to maintain any balance. 

No, there’s no limit to the total number of points you can earn!  

The only limit applies to the “3 points per $1 spent on gas and EV charging.” You can only earn 3 points per $1 spent for the first $500 spent on gas and EV charging each calendar month. 

After that, gas and EV charging purchases earn 1 point per $1 spent.  

Grocery and “everything else” points are unlimited. 

Free Checking and Advantage 50 Checking have no monthly fee. Max Checking has no monthly fee either — though requirements apply to earn the full interest rate. Investor Checking carries a $10 monthly fee, which is waived when you maintain a $2,500 average monthly balance. No hoops you weren't told about upfront. That's the credit union difference. 

No. Your funds are available for immediate withdrawal at any time. There is no penalty for withdrawing from Max Savings. 

Take advantage of potential FICA tax savings of up to 15.3% through contributions that address both employer and employee payroll tax responsibilities. 

Like most things in life: it depends! Getting a home equity loan can be a great idea if have a clear purpose, enough available equity, and a repayment plan that fits your budget.  

But, because you're borrowing against your home, it is important to borrow thoughtfully and understand the payments, costs, and terms before moving forward. We recommend against using a home equity loan for frivolous or impulsive purchases. 

At the end of the day, the best choice depends on how you plan to use your funds — and whether you have a plan in place to pay them back.  

If you have any more questions, our home equity specialists would be happy to help you understand what a HELOC or fixed-rate home equity loan could do for you.

Schedule an appointment

Yes. Our Wire Origination service includes built-in protections like dual control approvals, user access controls, and multi-factor authentication to help reduce fraud and unauthorized activity.

The benefits that come with being an LMCU member. The discounts, rewards, and more. 

LMCU Max Money Market consistently offers competitive tiered rates for Michigan members. Rates vary based on local money market conditions, so check the current APY before opening. With no minimum deposit and no monthly fees, Max Money Market is one of the most accessible options available. 
 

LMCU offers Max Savings to members across Michigan. With branches throughout the state and easy online account opening, finding a high-yield savings account near you is straightforward. Current members can open Max Savings directly in online banking under the Services tab. 
 

 

Wallet Wisdom Insights helps you better understand your spending, saving, and everyday money habits. It summarizes your account activity into actionable tips, making it easier for you to spot patterns, stay aware of changes, and feel more confident about what to do next. 

LMIA has been finding people coverage since 1921. As an independent agency, the team can compare coverage from multiple carriers instead of pointing you to just one option, and help you understand pricing, deductibles, and next steps along the way. 

It depends on how you like to shop. Getting preapproved first tells you exactly what you can borrow and at what rate, so you walk into the dealership with your number already in hand. Think of it like checking the weather before a road trip — you can leave without doing it, but you probably won't regret the extra two minutes.   

If you'd rather browse first, LMCU also works with participating dealers who can handle financing on-site. Either way, we've got you covered. 

In short, yes — and here's why it matters. When you get boat loan preapproval with LMCU, you arrive at the dock knowing what rate best fits your budget. Apply online or stop into any branch before you shop.

Preapproval is one of the easiest ways to shop with confidence. Apply online before you visit a dealership or marina — it takes just a few minutes and gives you a clear budget to work from. With so many boat financing options available year-round, knowing your number before you shop puts you in the driver’s seat. Apply at lmcu.org or schedule a call with a loan specialist to get started. 

In short, yes — and here's why it matters. When you prequalify for an auto loan with LMCU, you walk into the showroom knowing what rate best fits your budget. Apply online or stop into any branch before you shop. 

Yes — and you won’t be the first person to ask. A credit union IRA can work alongside your employer’s retirement plan, giving you more investment options, additional tax advantages, and savings that belong entirely to you no matter where you work. It’s also a smart landing spot for old retirement accounts from previous jobs through an IRA rollover. Think of your 401(k) as one engine. An IRA is the second one. More lift. Better odds of getting where you’re going.

Both let you use your home's equity, but they work differently. A refinance replaces your entire mortgage with a new loan — different rate, different term, potentially cash out. A HELOC keeps your existing mortgage in place and adds a revolving line of credit you can draw on as needed. If your current mortgage rate is favorable and you mostly need flexible access to equity, a HELOC may be the smarter fit. If you want to restructure your whole loan and potentially improve your rate at the same time, a refinance is worth exploring. LMCU offers both — a loan officer can help you compare. 

Find answers about Text Banking enrollment, commands, costs, supported devices, account security, and troubleshooting. 

LMCU vacant land loans are available for parcels up to 40 acres intended for a primary or secondary residence. A few things lenders look at: 

• The property must be zoned for residential construction 
• Your plan to build a permanent dwelling needs to be clear — not necessarily imminent, but real
• As little as 10% down¹ is required, with no reserve funds needed   
  

Because land has no structure on it yet, financing vacant land does require solid credit and a clear intended use for the property. A loan officer can walk you through where you stand before you apply. 

Please see our Business Wire Transfer page for more information. 

Several factors may influence both approval and the rate you're offered — including your credit history, income, existing debt, the amount you're requesting, and other underwriting criteria. The best way to find out where you stand is to apply. Our team is also happy to talk through the process with you before you submit anything. 

A few things factor in: your credit history, the loan term, the age of vehicle, and your down payment. Enrolling in Auto Pay may also help. 

A few things go into the rate you'll be offered: your credit history, the loan term you choose, the age of the vehicle, and the amount you're financing. The good news is that checking your options early, before you fall in love with a specific car, gives you the most flexibility. 

An LMCU preapproval locks in a rate so you know where you stand before you ever set foot on a lot. 

Kids Club is open to children 12 and under. Teen Club is open to ages 13–17. When a child in Kids Club turns 13, the account converts to Teen Club automatically. No action needed. LMCU has branches across Michigan and 23 locations in Western Florida, so there’s likely one near you.

ACH Collection allows your business to electronically pull payments from your customers’ bank accounts. 

Funds are transferred securely through the Automated Clearing House (ACH) network, reducing the need for you to collect checks and process them manually. 

eAlerts are customizable LMCU account notifications you can choose to receive by email, text, or both.  

eAlerts let you know when specific account activity occurs, so you can stay informed without logging in throughout the day. 

eStatements and eNotices let you view your monthly account statements and eligible notices online instead of by mail. These online statements are free, secure, and available through LMCU Online Banking.  

When a new statement or notice is ready, you’ll receive an email notification. 

Future investment elections tell the system where to put new money when it’s moved from your HSA into your HSA investment account. Once you set them, transfers are invested automatically according to the funds and percentages you chose. 

Skip this step, and new money will sit in the money market fund until you manually realign or transfer it to other funds. It won’t go anywhere on its own. 

To set your future elections, go to Invest > Set Future Investment Elections. You may want to consult a financial professional before making your selections. 

One thing to keep in mind: future investment elections only affect new money coming into your HSA investment account. To change how your existing balance is invested, use Realign Investment Percentages or Transfer Between Investments under Invest > Manage Portfolio.

Our Business Max Money Market offers 8 distinct interest tiers, as your balance grows from less than $2,500 all the way up to $1,000,000+. Consult our comparison chart for the most up-to-date rates. 

To become an LMCU member, you just need to meet one of the following criteria:

• You live, work, or worship anywhere in Michigan's lower peninsula, or anywhere in Florida.
• Regardless of where you live, you can join if you’re an immediate family member of a current LMCU member. This includes your father, mother, brother, sister, son, daughter, grandmother, grandfather, or spouse.
• You can also join from anywhere if you contribute $5 to the ALS (Amyotrophic Lateral Sclerosis) Foundation.

Our Lockbox Services are a streamlined solution for your receivables. It’s simple: you direct customer or vendor payments to a secure P.O. box, under your business’s name and managed by us.  

We will then collect the mail sent to your P.O. box, process your checks, deposit the funds right into your LMCU account, and deliver remittance data for reconciliation. 

Merchant Services are the tools and technology your business uses to accept and process payments, whether that’s in-store, online, or on the go.  

At LMCU, we’ll help you set up payment processing, point of sale systems, and payment gateways that securely move funds from your customers’ accounts to your business account. 

You have choices here, and that's the point. Borrowers can select from multiple in-school repayment options, including deferred repayment for those who'd rather focus on school first, along with competitive student loan rates on both fixed and variable terms. 

Fixed student loan rates stay the same for the life of the loan. Variable rates may start lower but can change over time. The right choice depends on your budget now and your plans after graduation. There's no single right answer, which is why the flexibility matters. 

SafePoint Vault Services use a secure smart safe, offered by Loomis, that’s installed at your business to accept and store cash deposits. Funds in the safe are validated, tracked, and securely held — yet still available for use — until collected by armored transport and processed for formal deposit into your account.

Unsecured loans don’t require collateral, giving you greater flexibility without risking your tied-up assets. Unsecured loans also typically have a faster, simpler application process, making them ideal for short-term needs or time-sensitive funding.

A hassle-free checking account should do three things well: no monthly fees, no minimum balance requirement, and easy access to your money. LMCU’s Free Checking delivers all three — plus a free Visa debit card, free starter checks, free online banking, and free access to LMCU ATMs. 

The biggest benefit is the triple tax advantage. Contributions reduce your taxable income. The balance grows tax-free. And when you spend it on qualified medical expenses, withdrawals are tax-free too. On top of that, there’s no opening, maintenance, or transaction fees and no use-it-or-lose-it rule — your balance rolls over every year, grows with interest, and stays yours whether you change jobs, move, or change health plans. After age 65, you can withdraw for any reason, not just medical expenses.

Member Savings is your gateway to everything LMCU offers. It gives you a credit union savings account you can organize into separate sub-savings accounts for any goal: vacation, holidays, education, unexpected expenses. Earn interest on balances of $100 or more, access your funds anytime, and keep it all federally insured by the NCUA up to $250,000. 

The Pay Card gives you direct deposit, Visa debit access for purchases anywhere Visa is accepted, online banking, mobile banking, phone banking, monthly statements, and fraud protection on purchases. It’s a practical set of everyday banking tools without the traditional requirements of a checking account.

Adjustable-rate mortgages typically start with lower rates than fixed-rate mortgages. While this rate may increase during the adjustment period, it could also go even lower. 

Advantage 50 Checking Accounts are free with benefits like free checks, a free VISA debit card, no transaction limits, and free bill pay.

Financing allows you to preserve your business’s cash flow, maintain liquidity, and invest in your business without the large upfront expense of a purchase.  

Financing also helps you upgrade your equipment sooner, take on more work, and potentially generate revenue faster, all without disrupting your day-to-day operations. 

Max Checking is LMCU's high-yield checking account, a modern rewards checking option, for members who want their everyday balance to earn a competitive rate. Just meet four simple monthly requirements, and you earn 4.00% APY on balances up to $15,000. No monthly fees, and no minimum balance required.

Max Money Market earns tiered interest on your balance, with higher balances earning higher rates. There are no monthly maintenance fees, no minimum deposit required, and no penalty for withdrawals. You also get check-writing ability, online and mobile banking access, and interest accrued daily and paid monthly. 

Max Savings earns tiered interest on balances of $100 or more, with higher balances earning higher rates. There are no monthly maintenance fees, no service charges, and no penalty for withdrawals. Direct deposit compatible, and federally insured by the NCUA. 

There is no fee to open the account, no monthly maintenance fee, and no minimum balance.

None. There are no monthly maintenance fees and no service charges on Max Savings. 

Since Rural Development Mortgages are designed to help more families finance a home, your eligibility depends on how your household income compares to the average for your area. Consult the USDA for specific income limits in your area. 

To earn the full interest rate on Max Checking, certain monthly requirements apply — typically including debit card transactions, direct deposit, online banking enrollment, and eStatements. Check the current Max Checking page for the specific requirements, as they may be updated. Members who don't meet requirements in a given month still earn a base rate with no penalty

Pros: 

• A lower upfront interest rate 
• Lower monthly payments during the fixed period 
• The potential for even lower payments if market rates drop 

Cons: 

• Rates can rise with the market, causing you to pay more over time 
• These fluctuations can complicate your long-term budgeting plans 

Our FinishLine Mortgage requires that you refinance your home loan from another financial institution to LMCU. It is available only in Michigan and Florida, with loan limits of $150,000 in Michigan and $250,000 in Florida. Loans are limited to 70% combined loan-to-value, and a $5 membership is required if you are not already a member. Terms, loan amount maximums, and other restrictions apply.  

Your loan officer may ask for some common supporting documents during the application process, including: 

• A valid I.D. 
• A copy of your homeowner’s insurance
• Your recent mortgage statement for all properties
• A copy of your winter and summer property tax notice for all properties owned
• Your 2 most recent years of W-2s
• Your 2 most recent years of returns for self-employed applicants
• A certificate of trust, if applicable 

 
These items can be provided by stopping by a local LMCU branch or emailing your loan officer. 

Each month, simply do these four things: make at least one direct deposit or ACH deposit into Max Checking, complete a minimum of 10 posted debit or credit card purchases, log in to online or mobile banking at least 4 times, and stay enrolled in eStatements.

Three things: the child’s social security card, a parent or guardian as joint account owner, and that’s about it. There’s no minimum balance and no monthly banking requirements. Opening a Youth Savings Account is one of the easier things you’ll do for your child’s future.

Because your loan is backed by collateral, there is a risk of losing your assets if you’re unable to repay the loan. We’d be happy to work closely with you to create a loan package that supports sustainable growth while minimizing your risk.

While Letters of Credit are designed to reduce payment risk, they still require careful structuring. Delays or issues can occur if your supplied documentation doesn’t match the agreed terms exactly. That’s why working with an experienced lender like us matters — we’ll take a close eye to your terms to make sure your Letter of Credit is just as thorough.

There are no transaction limits.

It depends on how your business operates. Your industry, location, property, employees, vehicles, contracts, and day-to-day risks can all influence the type and amount of coverage you may want to consider. Get in touch with us, and we’ll help walk you through those details and help identify your priorities.

Commercial Real Estate Loans can be used to purchase, refinance, build, or renovate a wide variety of business or investment properties. This includes: 

• Office and warehouse buildings
• Retail spaces
• Multi-family properties
• Owner-occupied real estate
• Commercial and industrial real estate 

If you have any questions about the eligibility of your planned investment, we’d be happy to have a conversation about it. 

SBA 7(a) loans are designed to be flexible, so if your business needs it to grow, an SBA 7(a) loan can probably cover it. Common loan uses include:  

• Acquisitions  
• Ownership changes 
• Working capital 
• Refinancing business debt 
• Purchasing equipment 
• Real estate - borrowing businesses must occupy 51% of an existing building and 66% for a newly constructed building

When your CD matures, you have options. You can withdraw your funds, roll over into a new CD, or transfer your balance to another account. LMCU will notify you ahead of maturity so you can plan your next move.

You can redeem your credit card points for cash back, travel, or merchandise. Our exciting rewards catalogue spans everything from new sunglasses to hot air balloon rides and beyond! 

Visit the Rewards link in Online Banking or our mobile app to shop merchandise and book experiences. Or, if you want to get cash back, you can redeem it in 5,000-point increments (5,000 points = $50). Cash back can be deposited directly into an eligible account or applied to a loan balance. Cash back can be redeemed through Online Banking, our mobile app, at your nearest branch, or by calling Card Services at (800) 242-9790 x9737. 

Almost anything. Common uses include debt consolidation, home repairs, medical expenses, moving and relocation costs, major purchases, and unexpected emergencies. A personal loan works especially well when you know the amount you need, want a fixed repayment schedule, and don't want to put up collateral to get it. 

Our Small Business Auto Loans are designed to help you finance smaller vehicles your business can use for operations, deliveries, client service, or employee transportation. This includes: 

• Cars  
• Trucks
• Vans
• Shuttles

If you need to finance a larger vehicle like a moving truck, or construction and landscaping equipment, we also offer Equipment & Machinery Loans. 

Our Small Business Equipment & Machinery Loans can finance a wide range of new & used business purchases. Common uses include: 

• Semi-trucks or box trucks  
• Heavy machinery
• Landscaping equipment
• Agricultural tools
• Moving vehicles
• Specialized industry tools  

Just about any other valuable asset your business owns can be considered for collateral, including vehicles and investments.

Our Business Lines of Credit are designed to be flexible, to fund whatever your business needs. Some common uses include: 

• Inventory
• Seasonal business surges
• Bridging the gap between incoming revenue and outgoing costs 

Secured-term loans are designed to support both long-term investments and day-to-day operations. Approved funds can be used for just about whatever your business needs. Common uses include: 

• Expansion 
• Equipment purchases
• Working capital
• Refinancing existing debt 

You can use your HSA for any qualified medical expense as defined by the IRS — and the list is longer than most people expect. The straightforward ones: doctor visits, prescriptions, dental and vision co-pays. The less obvious ones: sunscreen, over-the-counter medicines, menstrual care products, breast pumps, smoking cessation programs, acupuncture, chiropractic care, blood pressure monitors, and blood sugar test kits. Some expenses only qualify with a doctor’s recommendation, so check the IRS guidelines or ask your HSA provider when in doubt.

Our Small Business Unsecured Term Loans are designed to be open ended, meaning you can use the funds flexibly, for a variety of business needs. These often include: 

• Working capital 
• Inventory
• Marketing
• Growth opportunities
• Unexpected expenses 

Wallet Wisdom Insights helps you better understand your spending, saving, and everyday money habits. It summarizes your account activity into actionable tips, making it easier for you to spot patterns, stay aware of changes, and feel more confident about what to do next. 

Every homeowner's goals are different. Whether you're improving your home, investing in future opportunities, or covering major expenses, a home equity loan can give you access to funds for a wide range of needs. Homeowners commonly use home equity loans for everything from renovations and education costs to debt consolidation, vehicles, and unexpected expenses. 

Improve Your Home

Put your home's equity back into the place you live.

• Kitchen and bathroom remodels
• Home repairs and maintenance
• Roofing, siding, windows, and other exterior updates
• Flooring, painting, and interior refreshes
• Room additions and major renovations
• Accessibility or aging-in-place improvements
• Landscaping, patios, decks, and outdoor living spaces

Invest in Your Future

Use your equity to help fund long-term goals and opportunities.

• College tuition and education expenses
• Career training or professional development
• Starting or expanding a business
• Purchasing a vacation home, rental property, or land
• Creating an emergency fund or financial safety net
• Other investments in your future plans and goals

Fund What Matters Most

Gain flexibility for life's important purchases, milestones, and unexpected costs.

• Vehicles, boats, RVs, and recreational equipment
• Debt consolidation
• Weddings and celebrations
• Medical expenses
• Emergency repairs and unexpected bills
• Major planned purchases
• Family caregiving expenses
• Relocation-related costs
• Other personal financial needs

LMCU offers four checking accounts: Max Checking for members who want to earn high-yield interest, Free Checking for straightforward everyday banking, Investor Checking for those who want interest on funds between investment moves, and Advantage 50 Checking for members age 50 and older. Each one comes with online and mobile banking, a debit card, and no minimum balance requirement. The comparison table above makes it easy to see how they stack up. 

They’re more than discounts. LMCU's credit union perks can include rewards, special offers, contests and events, money know-how, personalized insights, business benefits, and ways your membership supports local communities.

If your debit or credit card is lost or stolen, please report it immediately to prevent unauthorized use. 
 
Contact our 24/7, toll-Free number for lost or stolen cards: (866) 304-8684. 
 
A new card will be ordered and should arrive by mail in about 7–10 business days.

Applying for boat financing with LMCU is simpler than the pre-launch checklist. You can apply online, call us at (844) 301-8899, or schedule an in-person, virtual, or phone appointment. Have your driver’s license and Social Security number handy and we’ll take it from there. Getting boat loan preapproval before you shop can help you know your budget before you set foot on the dock. 

We will need to evaluate your credit, revenue, time in business, and overall financial health. This is done through documents like: 

• Proof of business
• At least two years of tax returns (personal and business)
• Recent financial statements 

Connect with one of our commercial lending experts for a list of specific documents you’ll need for your application. 

As part of the application process, our Home Equity team may request documents like the following to help verify your information:

• A valid ID or driver's license
• Your homeowner's insurance information or declarations page
• A recent mortgage statement
• A property tax bill
• Recent pay stubs
• W-2s or tax returns

A property valuation may be needed as part of the review process, and in some cases, an appraisal may also be required.

This is determined on a case-by-case basis and can depend on factors like your property, loan amount, and the overall results of your application review. If a valuation is needed, related costs may be factored into your closing costs.

With your application, you’ll need to include your business’s financial history, credit profile, time in business, and the intended use of the vehicle.

To get started, you'll typically only need basic personal financial information. As things move forward, additional aircraft-specific documents may come into play — title work, insurance, that sort of thing. Not sure what to pull together? Request a quote and our team will walk you through it. 

Applying for a credit union RV loan is simpler than the pre-trip checklist. You can apply online, call us at (844) 301-8899, or schedule an in-person, virtual, or phone appointment. Getting RV loan preapproval before you shop can help you know your budget before you set foot on the lot. Have your driver's license and Social Security number handy and we'll take it from there. 

Since unsecured loans don’t require collateral, we’ll just need to see documentation supporting your business’s financial health, credit profile, and overall ability to repay the loan. This includes, but isn't limited to your business tax returns and recent financial statements.

Start with a conversation. Our Treasury Management team will review your current receivables volume and process, agree on a daily collection schedule, and tell your payers where to send payments — then confirm the remittance format your accounting system needs. 

The more details you can provide, the better, but the most helpful information to provide usually includes: 

• Your Federal Identification Number
• Your business’s location  
• The type of work you do 
• The number of employees you have
• Payroll info 
• Vehicles you operate 
• Property & equipment you own
• Your current coverage
• Any contract requirements you may have  

If you’re not sure what to gather, we can help you get started. 

To approve your business for a Business Standard Checking account, we’ll just need to confirm that you’re an actual business! That means you’ll need to provide:

• Business formation documents.
• Ownership or signer details.
• Identification for authorized signers.

Think of it like a bill your school totals up for you — tuition, fees, housing, technology, and other approved expenses. Whether you're looking for undergraduate student loans or graduate student loans, a private loan can cover what's left after your other aid is applied. 

Through LMCU's Sallie Mae partnership, private loans for college students may cover up to 100% of school-certified costs for eligible undergraduate, career training, and graduate students. Specific loan limits may vary based on how the application is submitted and what the school certifies. 

The first number tells you how long the rate will stay fixed, while the second number tells you how often the rate will adjust afterward over the lifetime of the loan (typically 30 years). 

For example, a 5/1 ARM’s rate is fixed for 5 years, then adjusts once per year afterward.  

We’ll require a variety of documents in order to approve your loan. These will include: 

• Personal & business tax returns 
• Financial statements 
• Property details 

Your LMCU commercial lender will provide a list of documents needed for your specific loan package. 

Our home equity team will likely need to see:

• A valid ID or driver’s license
• Your homeowner’s insurance information or declaration page
• A recent mortgage statement 
• A property tax bill 
• Recent paystubs 
• W-2s or tax returns 

When a loan is federally insured, it means the government protects lenders like us if a borrower can't pay their mortgage. This reduces the risk to us lenders, which, in turn, allows for more flexible application standards. Altogether, federally insured loans help make mortgages more accessible for homebuyers who would have trouble getting approved for a traditional home loan. 

In order to determine the size of your renovation loan, we estimate the value of your home once all improvements are completed. We offer funding up to 75%³ of this “after-completion appraised value.”

HSAs come with three main tax perks: 

• Contributions are pre-tax, lowering your employee’s total taxable income and saving them money on their taxes each year. 
• Account growth is tax-deferred, meaning tax isn’t charged on interest earned, as long as it’s used for qualified medical expenses. 
• The same applies for withdrawals, as these can also be spent tax free on qualifying medical expenses.

Our Business Standard Checking account charges no monthly maintenance fees. The only costs you might pay would be:

• $0.50 for each additional item beyond the account’s 50-item per month limit.
• A 0.10% fee on currency deposits beyond the account’s $20,000 monthly limit.
• A one-time membership fee of $5 if you aren’t already an LMCU member. 

Pricing depends on which services you use and your transaction volume. Analysis Checking can offset some or all of your monthly fees with earnings credits on account activity. Contact our Treasury Management team for a complete rate schedule. 

In general, ESA earnings can be withdrawn tax free when used toward qualified education expenses, whether for elementary, secondary, or higher education.  

Qualified expenses typically include tuition, fees, books, supplies, equipment, and eligible special needs services. In many cases, computer technology, as well as room and board, may also qualify.

Free Checking has no account opening fee, no monthly maintenance fee, no per-check fee, no Visa debit card fee, and no minimum balance requirement. No monthly fee checking means what it says: No surprises. 

*Overdraft/returned item fees may apply. 

We charge $25 for domestic wires and $50 for international wires. Additional Treasury Management service fees may apply. Please contact our Wire Department at (800) 242-9790 ext. 9950 with any additional questions. 

After your card is reported, it will be deactivated and a replacement card with a new number will be ordered. Your new card should arrive by mail in about 7–10 business days. 

Every nonprofit sponsorship request and community donation request gets reviewed by our Community Relations team. If your opportunity looks like a strong match, we'll reach out. If we need more information to make a decision, we'll be in touch for that too. 

We genuinely wish we could say yes to everything. We can't — but every request is read, and every decision is made thoughtfully based on fit, timing, and available resources. 

If a check is altered or duplicated, it won’t match your issued file and will be flagged for review. You’ll be notified of the discrepancy and can reject the transaction to prevent an unauthorized payment. 

An ACH payment can be returned if there are issues like insufficient funds, incorrect account details, or authorization problems. When this happens, we will notify you with a return reason so you can correct and resubmit the payment if needed.

The HSA belongs to the employee, not to your business, so they keep the account and the balance when they move on. There’s nothing you need to unwind on your side. 

You will be charged a $30 each time Courtesy Pay covers an overdraft. The total number of times Courtesy Pay can cover an overdraft depends on your account’s current standing. 

Once Courtesy Pay covers an overdraft, you are still responsible for bringing your negative checking account balance back into the positive within 30 days to avoid further penalties. 

Yes. Your health savings account belongs to you, not your employer. You can take it with you when you change jobs, transfer it to another provider, or simply keep using it as-is. The only catch: to keep making new contributions, you’ll need to stay enrolled in a qualifying HDHP. But the balance you’ve already built? That’s yours no matter what.

If a payment is missed, a late fee may be applied after the grace period outlined in your loan agreement.

If life throws a curveball, reach out to us before the payment is due if you can. After a 14-day grace period, a late fee may apply and online payment transfers may become unavailable. If you expect a delay beyond 15 days, please contact our Loss Prevention team at (800) 242-9790 ext. 9923 or visit your local branch as soon as possible. The earlier you reach out, the more options we have to help. 

Early withdrawals may be subject to a penalty, so it’s important to choose a term that matches your expected timeline. 

Early withdrawals from a CD may be subject to a significant interest penalty. That’s why it’s worth choosing a term that genuinely fits your life — a CD works best when you can let it do its thing.

If your balance falls below your set target balance, funds are automatically moved back into the account from a linked account to cover transactions. This helps ensure that your expected payments clear, while also reducing the need for time-sensitive manual transfers.

Unlike some healthcare accounts, our HSA balances roll over year after year and stay with your employees, allowing them to build their healthcare savings over time.

At the end of your term, you can choose to reinvest your total funds and earnings into a new CD or transfer them to another account. 

The program covers more than 150 qualifying improvements. Common examples include HVAC systems, heat pumps, central air conditioning, insulation, energy-efficient windows and doors, water heaters, solar panels, air sealing, attic ventilation, EV chargers, and certain appliances. For the full current list, visit the Michigan Saves website. 

Eligible upgrades typically include insulation, HVAC systems, windows, water heaters, solar panels, and other qualifying energy-efficiency improvements. Eligibility may vary based on current program requirements, so confirm before you plan around it. Ask an LMCU loan specialist or schedule an appointment — we’ll point you in the right direction. 

Think of the Fund Performance Dashboard as your menu. It lists every available mutual fund along with its historical performance, category, and gross expense ratio. Each fund also links out to its prospectus, fact sheet, and Morningstar®² page — so you can dig into the details before you commit to anything. 

To get there, visit the Fund Performance Dashboard. 

If an account will not connect or needs to be reconnected, please contact us for support. You may also see an option to add an account manually.

If a valid transaction is mistakenly flagged or rejected, you can correct the decision within the review window or reissue the payment. Keeping accurate records and filters helps minimize these false positives. 

If Bill Pay keeps sending you back to the Access page, a pop-up blocker may be preventing the Bill Pay window from opening.  

Open Bill Pay from the Bill Pay tab inside Online Banking, then check your browser settings to allow pop-ups if a new window does not appear. 

You can still have a Max Checking account even if you don't meet the monthly requirements. Your balance just won't earn interest that month. If you'd rather open a no-fuss account with no requirements at all, Free Checking is a great alternative.

For your security, a card that has been reported lost or stolen cannot be reactivated. If you find it later, continue using your replacement card and safely destroy the old one. 

If you have trouble signing in, you can reset your password or verify your identity through LMCU Online Banking. If you still need help, the LMCU Help Center has guides, videos, and answers to common questions. 

If you plan to switch phones, make sure you can access the LMCU Mobile App on your new device before relying on our Mobile Authenticator.  

If you need help re-establishing access, start with our Help Center or contact us for support. 

If you need help signing in, enrolling, or using any of our Mobile Banking features, our LMCU Help Center is a good place to start.

Here, you can also explore support for Online Banking, Text Banking, eAlerts, and Phone Banking, or contact our team if you need help with a specific service. 

You can withdraw from your Holiday Club Account before September 30, but there is a $3 penalty per withdrawal. It’s worth leaving it alone until the automatic transfer — that’s when you really feel the payoff. 

If an incorrect or unauthorized transaction posts to your account, you can file a dispute through Online Banking, give us a call at (800) 242-9790, or stop by any LMCU branch.

Clients, landlords, lenders, or vendors may ask for proof of insurance, often in the form of a certificate of insurance. LMIA can help you understand what’s being requested and work with you to provide the needed documents promptly.

If the ESA’s original beneficiary doesn’t attend college, unused funds may be rolled into another eligible Coverdell ESA, as long as the receiving beneficiary is under age 30.  

The IRS also notes that remaining amounts generally must be distributed when the beneficiary reaches age 30 (unless they are a special needs beneficiary).

We’ll review the details of the transaction, your business’s financials, and any specific supporting documentation related to the buyer, seller, and contract terms. 

Since your Letter of Credit will be unique to each transaction, the easiest solution is to meet with a local LMCU commerical lender, so they can understand the full scope of your transaction. 

In addition to the above details about your payment’s recipient, you will also need to: 

• Provide your own address (P.O. boxes are not accepted for sending or receiving wires) 
• Present ID confirming your identity
• Sign a one-time “Wire Transfer Agreement” if it’s your first wire
• Complete our wire transfer questionnaire to help protect your from wire fraud
• Pay $25 for a domestic wire and $50 for an international wire 

Specific requirements vary by the recipient’s financial institution, so check with the recipient first. You’ll typically need: 

• The recipient financial institution’s routing number and address
• The recipient’s complete name and physical address
• The account number where the money should be deposited 

You must also have guaranteed funds available in your account before the wire can be sent. 

Before you start, have the following ready: 

Your organization name and mission. The type of request — sponsorship, donation request, volunteer support, or community partnership. Event or program details — what it is, when it happens, and where. The audience you're serving and its approximate size. How the opportunity connects to the communities LMCU serves. 

You don't need everything finalized to submit — but specifics help our team understand the fit and respond with confidence. 

For a domestic wire, the sender needs: 

• Send to: Lake Michigan Credit Union, ABA 272480678, 4027 Lake Dr, Grand Rapids, MI 49546 

• Beneficiary: your 12-digit LMCU account (MICR) number, your full name, and your address 

For an international wire, the sender needs: 

• Send to: Lake Michigan Credit Union, SWIFT/BIC LMCNUS33, 4027 Lake Dr, Grand Rapids, MI 49546 

• Beneficiary: your 12-digit LMCU account (MICR) number, your full name, and your address 

Pay with Points is a redemption option that lets you directly spend your points like money to make eligible purchases. When Pay with Points is available, you’ll get an email or text message offer. Then, you can choose to redeem points for a statement credit toward that purchase. Eligible purchases include certain daily expenses, gas, groceries, and retail purchases between $25 and $250. 

Business CDs are an easy, low-risk investment your business can utilize to grow your funds over a set length of time (or “term”). Put simply: choose a term, lock in that rate, don’t touch it until the term ends (or “matures”), and you’re guaranteed to earn interest at the promised rate. 

A business line of credit gives you access to a set amount of funds that you can draw from as needed to fund short-term working capital needs. These funds accrue interest daily from the day funds are drawn.  

As you repay what you use, that credit becomes available again, so you can reuse it without reapplying for more funding. 

A Business Max Money Market account, just like a personal money market account, is a savings option that implements a tiered interest system to help your business earn at a greater rate as your balance grows. 

A CD is a fixed-term savings product that pays a guaranteed interest rate for a set period. You deposit funds, choose your term, and earn interest until maturity. LMCU offers credit union CD rates across terms from 3 to 60 months with a $500 minimum opening balance.

Think of it as two loans that decided to become one. A construction-to-permanent loan covers your build — land, materials, labor, permits, the whole project — and then rolls automatically into your permanent mortgage when the work is done. 

One closing. One set of closing costs. The same rate you locked at the start. LMCU offers construction loan terms of 12, 15, or 18 months, followed by up to 30 years of permanent financing. You know what you're getting into before you break ground, which is exactly how it should be. 

A conventional fixed‑rate mortgage is a home loan that offers a locked-in interest rate that stays the same for the entire lifetime of the loan. Your monthly principal and interest payment never changes, making it easier to budget your home loan payments alongside the rest of your spending and saving. 

A credit union money market account is a type of savings account that earns higher interest than a standard savings account while keeping your funds accessible. Unlike a CD, there is no fixed term and no penalty for withdrawals. LMCU’s Max Money Market adds check-writing ability on top of all that. 

A debt consolidation loan rolls multiple debts — credit card balances, medical bills, personal loans, and other high-interest debt — into one new loan with a single monthly payment. The goal isn't just simplicity, though that helps. It's the chance to get a clearer picture of what you owe, what it's costing you, and what a realistic payoff plan looks like. Think of it as trading a pile of separate bills for one manageable line item. 

A digital wallet lets you use your credit or debit card virtually by storing your payment information within your compatible phone, smartwatch, or device, so you can make purchases without using your physical card.  

Once your LMCU card is added to your digital wallet, you can use your device to pay in stores, online, and in apps where digital wallet payments are accepted. 

A Doctor Mortgage is a specialty home loan program designed to help medical and dental professionals — whether they’re fresh out of med school or years into their careers — buy a home with lower down payment options, higher financing limits, flexible qualifications, and other exclusive benefits. 

It’s also our way of thanking the experts who keep our communities healthy. 

Our FinishLine Mortgage is a short-term refinancing program designed specifically for for homeowners who are moving a mortgage from another financial institution to LMCU. 

The perk? Instead of refinancing into a traditional 15- or 30-year mortgage, you can choose the exact term that fits your payoff goal — anywhere from 1 to 12 years. It’s a great way to take your mortgage into your own hands and align it to your long-term goals. 

A fixed-rate home equity, like all home equity loans, allows you to borrow funds based on your home’s current equity.

A fixed-rate home equity loan specifically provides funds in a one-time, lump-sum disbursement, which you must then repay at a locked-in interest rate over a fixed term.

Unlike a HELOC, a fixed-rate home equity loan’s rate and term stay the same, so your monthly principal and interest payments stay predictable throughout the life of your loan. 

HELOC is short for “home equity line of credit.” Like any home equity loan, it allows you to borrow funds based on your home’s current equity.

HELOCs are unique compared to other home equity loans because they offer a revolving line of credit instead of a single, fixed sum. A lender — like us! — will approve you for a certain credit limit, so you can draw as many funds as you need up to that limit, while only paying interest on what you use.

Once your HELOC is approved, you’ll use and pay back the funds in two phases: a draw period and a repayment period.

Once the 15-year repayment period begins, you can no longer draw funds and must repay the entire remaining balance based on your loan terms.

Your funds can be accessed and repaid by check, debit card, online banking, or at any LMCU branch location.

A Holiday Club Account (sometimes called a Christmas Club Account), is a dedicated savings account designed for planned seasonal expenses. You make deposits throughout the year, earn interest, and your full balance transfers automatically to your designated LMCU checking or savings account every September 30. Think of it as a savings account that works quietly in the background all year, then delivers exactly when the season gets expensive. 

Think of it like a home repair fund you don’t have to build from scratch. A home improvement loan is financing used for repairs, renovations, remodels, or upgrades — anything from a new roof to a kitchen overhaul to an emergency furnace replacement. Depending on the option you choose, it may be unsecured (no collateral required) or secured by your home’s equity through a home equity loan or HELOC. LMCU helps you compare the options so the financing fits the project — not the other way around.

A Letter of Credit is a financial guarantee issued by a financial institution like us. This letter ensures that payment will be made if your transaction’s agreed-upon terms are met.  

By doing this, you can reduce risk for both buyers and sellers by adding us as a trusted third party to the transaction. Think of it as us vouching for you. 

Michigan Saves is a nonprofit energy-efficient home improvement financing program that connects homeowners with funding for qualifying upgrades. LMCU offers financing through Michigan Saves for eligible improvements — insulation, HVAC systems, windows, water heaters, solar, and other approved projects. If you’re planning an energy upgrade, ask whether your project qualifies. It could change how you finance it. 

A mortgage loan officer, also known as a “loan originator,” is your essential point of contact with a mortgage lender. Your loan officer will assess your finances, help you understand what type of home you can afford, and pair you with the right mortgage for your needs. 
 
At LMCU, our loan officers go the extra mile to be your homeownership ally. They’ll answer your questions, connect you with top area real estate agents or homebuilders, reduce your paperwork, and overall simplify the homebuying process.

Think of our one-time close as combining multiple loans into one. Also known as a “construction-to-permanent loan” this process finances your home build — land, materials, labor, permits, the whole project —  before rolling automatically into your permanent mortgage when the work is done. 

One closing means lower closing costs, and only paying the same rate you locked at the start. LMCU offers construction loan terms of 12, 15, or 18 months, followed by up to 30 years of permanent financing. You know what you're getting into before you break ground, which is exactly how it should be.

Think of it like a financial bridge. You've got a gap between where you are and where you need to be — an unexpected bill, a repair you can't delay, a pile of high-interest debt worth simplifying. A personal loan covers it in one lump sum, then you pay it back in fixed monthly installments over a set term. The rate doesn't change. The payment doesn't change. What changes is the number of things you're juggling. 

A Renovation Mortgage combines your primary mortgage or refinance and the cost of your planned renovations into one convenient loan. Once approved, your renovation funds will be held in an escrow account and released as the project progresses, so you don’t have to take out a separate loan for the repairs.

A Rural Development Construction Mortgage, also known as a USDA construction loan, is a government-backed home loan that helps prospective homeowners in eligible areas build a home without a down payment. 

At LMCU, we simplify things further with our signature one-time close. Instead of needing separate loans for land, construction, and your primary mortgage, we combine everything into a single loan with one closing, saving you money on closing costs. 

A Rural Development Mortgage, also known as a USDA loan, is a government-backed home loan that helps homebuyers in eligible areas purchase or build a home without a down payment. 

Secured-term loans offer financing backed by the lender’s collateral. Since your loan is backed by this collateral, you can access higher loan amounts, lower rates, and more flexible terms.

An “unsecured term loan” offers funding without requiring any collateral, meaning you don’t have to tie up or risk any of your business assets in order to get approved for the loan. Instead, we base your approval on your credit and financial history.

A Target Balance Sweep automatically maintains a set balance in your business checking account by moving funds to or from a linked account.  

This set balance can be whatever you need it to be, whether it’s to ensure expected payments are covered or to optimize interest earned. 

Excess funds are then transferred out to earn more in a higher-interest account, while additional funds are pulled in if your balance falls below the target.

A Target Balance Sweep automatically maintains a set balance in your business checking account by moving funds to or from a linked account. 

That balance can be whatever you need it to be — enough to cover expected payments, or tuned to optimize interest earned. Excess funds transfer out to earn more in a higher-interest account, and additional funds are pulled back in if your balance falls below the target. 

A vacant land loan — sometimes called a lot loan — is financing specifically for purchasing land without an existing home on it. Unlike a traditional mortgage, the land itself serves as collateral, and there's no structure for the lender to fall back on — which is why land loans tend to have different terms than home purchase loans. A vacant land loan lets you purchase the property now and build later, on your own timeline. Many members use a vacant land loan first, then transition to LMCU's construction loan when they're ready to break ground.

A Zero Balance Account is a business account that uses automated transfers to or from a primary account, so the ZBA’s balance returns to zero at the end of each day. This lets you centralize cash and oversight where it’s most valuable, while still using separate accounts for different business functions. 

ACH Disbursement allows your business to send payments electronically through the Automated Clearing House network. This service securely moves funds directly from your account to vendors, employees, or other recipients’ accounts without using checks.

An adjustable‑rate mortgage is just that: a home loan where the interest rate stays fixed for a set, initial period of time, before adjusting annually based on market conditions. This means your monthly payment could go up or down after the fixed period ends. 

An earnings credit is a credit offered on eligible account balances that can help offset service charges.  

With an Analysis Checking account, earnings credits can be used to reduce or eliminate certain account and treasury-related fees, depending on your business’s balances and the services you use. 

It’s a health savings account program you offer to your employees. Each employee owns their own HSA, and both they and you can contribute to it. Contributions are made pre-tax, the balance grows tax-deferred, and withdrawals for qualified medical expenses are tax-free. 

An escrow account helps make homeownership more manageable by collecting funds for property taxes, homeowners insurance, and mortgage insurance (when applicable) as part of your monthly payment.

We use your escrow account to pay those expenses on your behalf when they are due, so you don’t have to make several separate, complicated payments over the course of the year.

An exception item is any transaction that doesn’t match your issued payment records or authorized parameters. When one is flagged you’ll get a notification, so you can review the item and decide whether to approve or reject it. 

FHA Mortgages are unique mortgages that are insured by the government, specifically the Federal Housing Administration — that’s what the FHA stands for! 

Because FHA Mortgages are federally insured, they can afford to offer lower down payments and approve borrowers with lower credit scores or higher debt levels than most other mortgages. 

Think of them as your own personal “great equalizer.” 

An HSA, short for “health savings account” is a tax-advantaged benefit you can offer your employees. It allows them to pay for medical expenses tax free, so they can do more with their income and address current and future healthcare expenses with confidence.

An individual retirement account is essentially a savings account that the government decided to give a tax break — because the more people save for retirement on their own, the better. You contribute money each year, it grows through interest or investments, and depending on whether you choose a Traditional or Roth IRA, the tax benefit shows up either when you put money in or when you take it out. LMCU offers both, with no account opening or maintenance fees. (Note: LMCU does not provide tax or legal advice. Please consult a tax professional for guidance specific to your situation.)

An overdraft occurs when you make a payment that exceeds the total balance you have in your account. Without overdraft protection, that payment would be cancelled, which could cause a lot of trouble if you’re paying for a bill or essential purchase. 

Overdraft protection prevents this, so that your payment can go through even if you don’t have enough money in your account. 

Online Bill Pay lets you pay virtually anyone or any company, directly from your checking account, through LMCU Online Banking or our mobile app.  

You choose who to pay, when to pay, and which account the payment comes from, all in one secure place. 

Courtesy Pay helps cover checks, bills, and withdrawals that exceed your checking account's balance, so your transaction still goes through. Courtesy Pay coverage is not guaranteed, however, and your eligibility depends on the current standing of your LMCU account. 

A credit union is a member-owned financial cooperative — which means when you join, you become a co-owner, not just a customer. Credit union membership typically requires opening a savings account (called a share account) with a small deposit. In exchange, you get access to the full product suite — and any profits the institution earns get returned to members through better rates and lower fees, not distributed to outside shareholders.

Escrow management is used to hold and manage funds on behalf of multiple parties until specific conditions are met. It’s commonly used in financial dealings like: 

• Real estate transactions
• Construction projects
• Legal agreements
• 1031 Exchanges
• Property managers
• Title companies
• Developers
• Surrogates
• Other situations where funds must be safeguarded and released at the right time.

With RV loans that cover large purchase amounts, GAP coverage is worth knowing about. It bridges the difference between what you still owe and what your insurance pays out if your RV is totaled or stolen. Without it, you could owe money on an RV you no longer have. With it, you're covered. Learn more about loan protection. 

Think of it as “how much of your home you really own,” Home equity is calculated as the difference between your home’s current value and what you still owe on your mortgage.  

As you pay down your mortgage, or as your home’s value increases, the equity available to you may grow. Because equity has value, you can borrow against it as collateral. That’s where home equity loans come in. 

Your monthly mortgage payment will include:

• Your Principal (the actual payment toward your loan balance) 
• Your Interest (the added cost of borrowing)
• Your Escrow (if applicable: the amount you set aside for property taxes and homeowners insurance 

LMCU Mobile Banking makes it simple to access your account from your phone or mobile device.  

Our handy little app can do a lot, and all of it saves you time:  

• Check your balances 
• Deposit checks
• Transfer funds
• Pay bills
• Set travel notices for your cards to make banking on vacation a breeze 

We also offer Text Banking and Phone Banking so you can perform basic account functions by texting or calling. 

Our Budget Tool is a free money management feature available through both Online Banking and our mobile app. It’s a financial wellness powerhouse that lets you view your finances in one place, track spending, create a budget, monitor income, identify trends, and work toward savings or debt payoff goals.  

You may also see personalized insights that highlight spending patterns or opportunities to stay on track. 

Our LMCU Mobile Authenticator adds an extra layer of login security for Online Banking by sending you a one-time passcode through the LMCU Mobile App.  

Your LMCU account is already secure by design, but our Mobile Authenticator makes it even safer from password thieves and breaches by adding an extra layer of security when you sign in to Online Banking from our website.  

Instead of entering your usual password, you’ll open the LMCU app to get a one-time code you can use to sign in. 

Our Community Edge Mortgage is a home loan program designed to make homeownership more accessible for community difference makers by helping them save on their down payments, closing costs, and private mortgage insurance (PMI). 

Our suite of Loan Protection services offers optional coverage that can help cover your loan payments or balances if an unexpected life event affects your ability to pay.

Your Pay Card has a $500 daily ATM limit. You can adjust it anytime in online banking under Other Services > Account Services > Update ATM Limits, or in the mobile app under Cards > ATM Limits.

Phishing
Uses email.  

Smishing
Uses text messages.  

Vishing 
Uses phone calls. All three use urgency and imitation to pressure you into sharing information or clicking a link. If any message about your account feels wrong, go directly to LMCU through a known channel instead of engaging with it. 

Positive Pay is a tool that helps businesses review and verify payments to prevent fraud.

Realignment is how you change the way your current balance is split among funds. It moves your existing HSA investments into the funds and percentages you select — think of it as rebalancing your portfolio. 

A few things worth knowing: 

• To realign your current balance: Invest > Manage Portfolio > Realign Investment Percentages. 
• To change where future transfers are invested: Invest > Set Future Investment Elections. 
• To move money directly between specific funds: Invest > Manage Portfolio > Transfer Between Investments. 
• You may want to consult a financial professional before making changes. 

Remote Deposit Capture allows your business to deposit checks electronically by scanning them with a scanner or phone and securely transmit the images to your LMCU account.

Skip-a-Payment lets eligible members skip a regular monthly loan payment for a $25 fee — helpful when an unexpected expense shows up right before your due date. You can skip up to two payments per calendar year in nonconsecutive months, as long as your loan is current and eligible. Keep in mind: interest continues to accrue during the skipped month, which may extend your loan term. To use it, log in to Online Banking and look for the Skip-a-Payment option, or download and return the form to any branch. 

An LMCU Visa debit card can be used for up to 15 purchases per day, and the daily ATM withdrawal limit is $500. If you need more room for a specific situation, contact LMCU about a temporary increase.

Both Coverdell ESAs and 529 plans help families earn tax-free interest to use toward their child’s education. 529 plans offer greater investment flexibility, wider income eligibility, and higher contribution limits, but Coverdell ESAs can be used for a broader range of K–12 expenses.

While the interest rate on a fixed-rate mortgage is locked-in for the lifetime of the loan, an adjustable-rate mortgage’s rate can change in response to market conditions. 

The biggest difference is what happens to the money you don’t use. With an FSA, unused funds typically expire at year’s end — the classic use-it-or-lose-it rule. With an HSA, your balance rolls over every year and keeps earning interest. Your HSA also belongs to you, not your employer, so it travels with you if you change jobs. The trade-off is eligibility: an HSA requires enrollment in a qualifying high-deductible health plan (HDHP), while an FSA is generally available with any employer-sponsored health plan.

Since Rural Development Mortgages are designed to help more families finance a home, your eligibility depends on how your household income compares to the average for your area. Consult the USDA for specific income limits in your area. 

Eligible LMCU members age 18 and older may receive information about a complimentary $2,000 accidental death and dismemberment benefit through Minnesota Life because LMCU makes this no-cost AD&D member benefit available to eligible members. Minnesota Life provides the coverage, enrollment details, optional additional coverage information, and servicing. 

An HSA offers a unique triple-tax benefit: tax-free contributions, tax-free investment growth, and tax-free withdrawals for qualified medical expenses. 

At LMCU, Treasury Management refers to a suite of services designed to help businesses manage cash flow, process payments, and reduce financial risk. These solutions improve efficiency, enhance visibility, and support better day-to-day financial control across your business.

Umbrella insurance adds extra liability protection beyond certain underlying policies, such as home or auto insurance. It may be worth discussing if you want added protection for larger claims, own property, have multiple or youthful drivers in your household, or want another layer of coverage for your personal assets. 

LMCU’s Business Credit Card earns 2% cash back on every purchase.  

How this works in practice is that for each dollar you spend using your Business Credit Card, you’ll earn 2 points. These points can be redeemed through your LMCU account in Online Banking for merchandise, travel perks, and more — including cash back. Every 50 points you redeem is worth $1 in cash back. 

We offer a wide variety of loan options based around your timeline and the amount of funding you need. These options include conventional loans, SBA-backed financing, and shorter-term solutions.

You can choose to be alerted about all kinds of account activity, including when: 

• Your available balance is low 
• You have a negative share balance
• There’s Courtesy Pay activity
• You receive a direct deposit 
• A specific check clears
• A large debit card purchase is made
• Your mailing address is changed
• An automatic withdrawal is made
• You have insufficient funds for fees 

Some examples of personalized insights you might see include: 

• The categories (restaurants, entertainment) you spend the most on, and how this changes from month to month. 
• When a monthly subscription increases in price. 
• When you could be earning more by moving money or using a certain account more regularly. 

Loan Protection may apply in covered situations such as disability, death, unexpected car repairs, or vehicle loss. However, exact coverage depends on the protection selected and the terms that apply.

Business Credit Cardholders can also enjoy: 

• Free around-the-clock fraud protection 
• Free online access for account management to view transactions, statement, or make a payment 

A loan payment cannot be skipped if: 

• It is within the first 60 days of your loan opening. 
• It is your first loan payment.
• Another loan in your name is delinquent.
• The loan balance is under $1,000 or over $150,000 for secured loans and under $1,000 and over $25,000 for unsecured loans.
• The payment amount is less than $50 or more than $1,500.
• It is more than 30 days before the due date or more than 15 days after the due date. 

CPAs, CFAs, PhDs, Architects, Certified Mortgage Bankers, and Designated Actuaries. 

Teachers, Firefighters, Police, Nurses, Veterans, Military personnel, EMTs, and Paramedics.

With an LMCU credit or debit card, you can dispute a transaction, freeze the card, or cancel and replace it. Wires, checks, cashier's checks, crypto and money transfer apps work more like cash: once that money's gone, it's usually gone for good. 

Our Business Credit Card’s rates and fees (or lack thereof!) are designed to support your business’s cash flow. That means we offer:  

• Rates as low as 16.75% APR* 
• No balance transfer fees
• No annual fee
• No limit on authorized users
• A 25-day grace period for payments 

Since Analysis Checking accounts are built around your business’s needs, it’s ultimately up to you! 

However, services can include standard checking account functionality, as well as Treasury Management services such as Remote Deposit Capture, ACH services, Wires, and Positive Pay.  

All relevant fees are compiled within the overall analysis structure for a more consolidated view of costs. 

Land is exciting. But it has a few more moving parts than a finished home. Before you move forward, it's worth looking into:  

• Zoning and permitted uses: Can you build the kind of home you're planning?
• Utilities: Is water, sewer, and electricity accessible, or will you need to bring them in? 
• Road access: Is there legal access to the parcel, or will an easement be needed? 
• Survey and title: Know what you own and where the lines are 
• Your build timeline: There’s no deadline required. But a rough sense of when helps when discussing financing options.   

Your LMCU loan officer can help you work through the list and flag anything that might need attention before you apply. 

Call (866) 304-8684 right away to report your card lost or stolen. Help is available 24/7. Once it is reported, your card will be blocked to help prevent unauthorized use and protect your account. 

If you have trouble adding your card or have questions about digital wallet, we’d be happy to help. Visit our Help Center for support or head to a branch near you for some hands-on help.

If you notice unauthorized charges, contact Member Services as soon as possible. We can help answer questions and guide you through the dispute process if needed. 

Contact LMCU right away through an official support path — call us, visit a branch, or use our Help Center. Do not respond to the suspicious message, click links in it, or share any information. Acting fast matters.

If your payment is delayed or does not arrive, please contact our Bill Pay Department at (844) 357-6727 for help.  

You can also sign in to Bill Pay and select Chat Now or Messages to get support.  

If the payment was sent by check, delivery can vary based on mail processing or when the payee posts the payment. 

Call LMCU right away at (866) 304-8684. We’ll help you protect your account, secure your Visa debit card, and walk you through the next steps. 

A good checking account in Florida comes down to a few things: no surprise fees, easy digital access, a debit card that works everywhere, and people you can actually reach when something goes wrong. LMCU checking hits all of those — and adds the option to earn interest on your balance if you want it. Compare Max Checking, Free Checking, Investor Checking, and Advantage 50 Checking above. Then open online or find a Florida branch near you.

Like our loan amounts, our repayment terms are structured on a case-by-case basis to align with the cost and expected lifespan of your financed vehicle. This way, we can best help you manage your monthly payments while keeping your business’s cash flow stable.

Your HSA investment account includes a Tools and Education page with research tools, decision support resources, and educational content to help you make informed choices. Think of it as the reading room before you make any moves. 

Use it. The more you understand about the funds you’re choosing, the better positioned you’ll be.

Our Escrow Management Services provide structured account tracking and reporting, allowing you to monitor balances, track disbursements, and maintain clear records for reconciliation and compliance purposes.

Sweeps are commonly used for specific functions like payroll, accounts payable, or individual locations and departments. That lets you track activity separately while keeping funds consolidated in one place. 

NAFCO finances piston singles, twin-engine aircraft, turboprops, jets, vintage aircraft, and experimentals. Have a specific make or model in mind? Just ask — our team has seen most of them. 

Pretty much anything that floats. LMCU finances a wide range of new and used recreational watercraft — including vessels up to 30 years old — such as fishing boats, pontoons, sailboats, cabin cruisers, and personal watercraft. Not sure whether your specific boat qualifies? Just ask. Our team can walk you through it. 

SafePoint may be ideal if your business frequently handles high volumes of cash requiring secure and efficient management.