Credit & Debt
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Loan Comparison Calculator
Compare loan options side by side with LMCU's calculator to find the best rate and terms for you.
Debt Consolidation Loan Calculator
See how consolidating debt with LMCU could lower your monthly payments and simplify your finances.
Personal Loan Calculator
Estimate monthly payments on a personal loan with LMCU. Compare terms to find the right fit for your goals.
Tap your equity. Keep your mortgage. With a Home Equity Line of Credit.
If you've been eyeing that kitchen remodel, bathroom refresh, or backyard project for a while now, you're not alone. Americans spent over $500 billion on home renovation in 2025.* The question isn't whether to do it. It's how to pay for it.
Wallet Wisdom Podcast | Ep 55: Real money. Real bills. Real lessons. How LMCU prepares teens for real life.
Nobody hands you a manual when you graduate high school. One day you're worried about homework. The next, you've got rent, a car payment, insurance, groceries, and a credit card offer showing up in your mailbox.
How your credit score keeps score
Are we alone in the universe? Is Bigfoot real? How is your credit score determined? These are the great mysteries of our time. And while we can’t help you with the first two, we can shed some light on your credit score. For better or worse, your score plays an important role in the mortgage process. The national average is 704, and the higher your score, the lower your interest rate. While a lower score can keep you from getting approved all together.
Wallet Wisdom Podcast: How Credit Unions Compare to Banks
Featuring Guest Patty Corkery, President & CEO of Michigan Credit Union League Most people think banks and credit unions are basically the same but they’re not. One is built to serve shareholders. The other is built to serve you.
How to manage your debt and improve your DTI ratio
What is DTI ratio? Before you can improve your DTI ratio, it helps to know what a DTI ratio is. DTI stands for debt-to-income. It’s a comparison of your monthly debt payments versus your monthly income. Your calculated DTI ratio is used to help lenders get an idea of how well you manage monthly expenses, which helps them determine if you’ll be able to repay a loan.
Simplify Budgeting with the 50/30/20 Approach
Budgeting can be tough, especially if debt has already started piling up — or the amount you think you’re spending doesn’t match up with your credit card statement. That’s why it can be helpful to start with a flexible framework that makes it easy to visualize your spending and saving habits, while still allowing you to have some fun with your money.
The Top 3 Ways to Use a HELOC in 2025
While many people immediately think of credit cards when it comes to borrowing money on an as-needed basis, a home equity line of credit (HELOC) is another, often-overlooked tool you can use to draw funds for countless purposes — at a lower interest rate than most credit cards.
When it comes to debt consolidation, you’ve got options
Debt can pile up fast. But don’t let bills and credit card payments overwhelm you: we’ve got tips, and you’ve got options.
Credit vs. debit: Which is safer to use?
If you use your debit card for most of your purchases, you may want to consider using a credit card instead. Fraud is on the rise and becoming more sophisticated. According to the Federal Trade Commission, Americans lost $5.8 billion to fraud in 2021, up 70% from 2020. Protecting your money is more important than ever, and, in most cases, credit cards provide more fraud protection benefits compared to debit cards.
How to Budget with a Credit Card from LMCU
It may seem counterintuitive, but a credit card can actually help you be more financially responsible — the key is to make sure you use it in a responsible way.
Buying or refinancing? Here are housing trends to watch in 2022.
Zillow forecasts existing-home sales to total 6.35 million in 2022, up over the estimated 6.12 million that closed out 2021.* If you’re looking to make a move this year or refinance to consolidate debt, renovate your home, lower your monthly payment, or reduce your term, here are a few things you’ll want to keep an eye on.
More ways to make the most out of HELOC in 2022.
A home equity line of credit, or HELOC, has some unique advantages over loans. With ten years of interest-only revolving credit followed by a 15-year repayment period, it can be a great solution for some situations you may not have considered.
Pay off debt sooner with balance transfers
It’s easy to get wrapped up in the hustle and bustle of holiday spending. So much so, that sometimes you spend more than you planned. However, here at LMCU, we’re hopeful a balance transfer might help! Hear what our lending expert, Joe Batt, has to say on transferring credit card balances after the holidays.
Financing an RV: 101
Interested in hitting the open road and experiencing the adventures of RV life? That sounds like fun! But first, you probably need to get the financing necessary to make it a reality, right?
6 Ways to Simplify Car Buying
Getting a new car is fun but nobody gets excited about an all-day haggle-fest at a car dealership. You can do most of the legwork from your computer or mobile device to save time and energy. Follow these steps to simplify the car-buying process and find the best ride faster.
New year. Fresh start.
Welcome to a new year! Now is the time for a fresh start and some new goals. A good goal must be specific, measurable, achievable, and realistic. When it comes to personal finance, it’s easy to get overly ambitious and lose steam within a few weeks. Big dreams like saving for the future, or becoming debt free, are often far too lofty and vague to be attainable. Instead, we’ve broken down four mini goals, or challenges, for the month of January to get you thinking about your finances.
Three strategies for digging your way out of debt faster
Dig Out of Debt. Debt has a way of piling up faster than the snow in your driveway. (For our Florida members, use your imagination and try not to rub it in.) Here are three strategies for digging your way out of debt.
Now that you can leave home …you won’t want to.
With a home equity line of credit, you can turn your house into the home you’ve spent the last few months (or years) imagining.
Summer goes by fast. Keep up with a boat or RV loan.
When your first name is “Lake”, you’re sort of required to offer the best boat loans. And with a middle name like “Michigan”, RVs are a must, too.
Right now we could all use a little support - home equity line of credit
At LMCU, not even social distancing will stop us from having your back. Our home equity line of credit, starts at just 3.00% APR.* Borrow and spend money just like a credit card. Use the extra cash for any immediate needs, or pay off high-interest debt to strengthen your financial stability for the days ahead.
The benefits of a credit card without the interest rate of a credit card
A home equity line of credit lets you borrow and spend money just like a credit card. But unlike a credit card, the interest rate is tied to the prime rate. With the prime rate at historically low levels you can access credit at a fraction of what most credit cards charge. Use the money for any immediate needs, or pay off high-interest debt.
Browse, finance, buy...all under one sun roof
Now you can shop for thousands of makes and models, compare prices from dozens of our preferred dealers, and even apply for an auto loan…all without ever leaving your driveway. Just go to LMCU.cudlautosmart.com.
Prime Platinum is the nation's best low-rate credit card
NerdWalletTM recently ranked our Prime Platinum the best low–rate card in the country.**** With an interest rate as low as prime + 3.00% (7.75% APR†), plus no annual fee, it’s the ideal card if you carry a month-to-month balance, or want to consolidate high-interest debt.
Consolidate high-interest debt and potentially save thousands
With a home equity fixed-rate loan starting at 4.49% APR*, you can consolidate high-interest debt–like credit cards and student loans— into one low monthly payment. You could save hundreds every month, equating to thousands in savings over the lifetime of the loan.
Spread cheer. Earn rewards.
Carrots, coal, and a corn cob pipe. It’s not your usual shopping list. But with our Max Rewards credit card, you can earn cash back on anything and everything you buy during the holidays — including 3% on gas,** 2% on groceries, 2% on restaurants (Signature card only) and 1% on everything else (like that old silk hat you found). It all adds up to the hap-happiest savings of all.
Special fall rate Home Equity loans
For a limited time, we’ve dropped our fixed home equity loan rate to 4.49% APR!* Use your home’s value to fund your home improvements to increase its value and enjoyment. Or even pay off student loan debt or high-interest credit cards.
Low auto rates turn every ride into a joyride
Mini rates for your minivan. Low interest for your low-rider. Below market rates for your SUV or RV. Whatever type of vehicle you plan on buying, pay less each month with an LMCU auto loan. Get started at LMCU.org/AutoLoans.
Plan ahead for the holiday budget crunch
Every year, millions of Americans celebrate the holidays with traditions such as throwing parties and buying gifts for family and friends. Unfortunately, many also participate in a tradition that lands them in debt -- spending more than they can afford.This year, break the buy-now, worry-later habit by creating -- and sticking to -- a special holiday spending plan. It won’t take long, and you’ll still be able to spread cheer without completely draining your wallet.
Consolidate debt, pay for your student’s college or make home improvements with our Home Equity Loans
With a LMCU Home Equity loan,* you can trade high interest rates, such as on credit cards, for something that’s easier on your budget. We offer two types of loans depending on how you want to put the equity in your home to work.
Consolidate Debt or Renovate Your Home
Which option is right for you—Line of Credit or Fixed Loan? Home Equity Line of Credit (HELOC) Just like a credit card, you can buy the things you need now and pay off your balance over time— borrowing against the value of your home. As you repay your balance, the funds become available again.
Max Rewards—Stuff Your Stockings Without Emptying Your Wallet
From stocking stuffers to ugly sweaters, gas to groceries, LMCU’s Max Rewards Visa Credit Card pays you cash back or points on every purchase—including 3% on gas, 2% on groceries, and 1% on everything else. And if you’re a Signature Max Rewards Credit Card cardholder, you’ll also get 2% back on restaurants and dining. It happens automatically with every purchase, so Santa can be extra generous this year.
