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Home Refinance Calculator
Estimate your refinance savings with LMCU's calculator. Compare rates and terms to see if refinancing your home loan makes sense.
Savings Goals Calculator
Set a savings goal and see how long it'll take to reach it with LMCU's easy-to-use calculator.
College Savings Calculator
Estimate how much to save for college with LMCU's calculator. Plan ahead for tuition and other costs.
Traditional vs Roth Calculator
Compare Traditional and Roth IRAs with LMCU's calculator to see which retirement account fits your goals.
HSA Calculator
See how contributing to an HSA with LMCU can help you save on healthcare costs and grow tax-free savings.
Home Rent vs Buy Calculator
Compare the costs of renting versus buying a home with LMCU's calculator to make an informed decision.
Mortgage Calculator
Estimate your monthly mortgage payment with LMCU. Factor in rate, term, and down payment to plan ahead.
HELOC Calculator
Estimate payments on a Home Equity Line of Credit with LMCU. See how much you could borrow against your home.
Loan Comparison Calculator
Compare loan options side by side with LMCU's calculator to find the best rate and terms for you.
Income Required for a Mortgage Calculator
Estimate the income needed to qualify for a mortgage with LMCU's easy-to-use calculator.
Mortgage Payoff Calculator
Find out how extra payments can help you pay off your mortgage faster and save on interest with LMCU.
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.
CD Interest Calculator
Estimate your CD earnings with LMCU's free calculator. See how term length and rate affect your savings growth over time.
Wallet Wisdom Podcast | Ep 62: How to Launch Your Small Business: 5 Essential Steps for Success
Learn 5 essential steps for launching a small business successfully. From realistic projections to leveraging resources, ensure your entrepreneurial journey is well-planned.
Fraud Is Evolving: What You Need to Know to Stay Safe | Wallet Wisdom Podcast Episode 59
Learn 5 crucial strategies to protect yourself from financial fraud. Understand the evolving threats and how to stay safe in today’s digital world.
How to Start Financial Conversations with Kids: 5 Essential Tips for Parents
Learn how to effectively engage your children in financial discussions and build a strong financial future together.
Buying your first home doesn't have to be confusing.
You've decided it's time. You're ready to buy your first home. That's exciting. But, it can also be a little overwhelming.
Wallet Wisdom: Getting to the heart of your financial health
Financial wellness isn’t just about money. While the numbers in your bank account may be the most obvious bill of financial health, they don’t tell the full story. Your everyday confidence, impulse control, self-care strategies, and even physical activity all play a part in your holistic financial wellbeing. In our latest Wallet Wisdom podcast episode, Producer Brett spoke with LMCU Financial Wellness Coordinator (and former Teller) Tiarra and LMIA Administrative Assistant (and LMCU Wellness Champion) Stevie to better understand just how all these moving parts work together as building blocks for healthy money habits.
Save Smarter, Not Harder: How to Use a High-Yield Checking Account and a CD Together
You always hear, “don’t put all your eggs in one basket,” and the same applies to your nest egg. Spreading your money between different types of accounts allows you take advantage of the unique earnings and access that each offers, which then makes it easier to save for future purchases and plan your big financial dreams.
From "Impossible" to homeowners: How one couple changed their future in a year.
Alex and Shannon thought homeownership was years away. Maybe five years. Maybe more. They were in their early 20s, fresh out of college, newly married, living in an apartment downtown. Building savings, establishing their careers, enjoying the freedom of being young and starting out.
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.
What to look for in a mortgage (Hint: It's more than just the rate)
Buying a home is one of the biggest decisions you'll ever make. And a big part of that is your mortgage. Finding the right one can matter just as much.
How to Make Your Tax Refund Work Harder for You: Insights from Wallet Wisdom Episode 58
Tax season has a way of sneaking up on all of us. For some, a refund feels like a welcome surprise — a little bonus from the universe. But as this week’s Wallet Wisdom episode reminds us, treating your tax return like “fun money” can mean missing out on some powerful financial opportunities.
Kick Off 2026 With Clarity: How to Set Financial Goals That Actually Stick
The start of a new year has a way of making us pause and reflect — especially when it comes to our finances. After holiday spending, rising costs of living, and the realities of everyday expenses, many of us find ourselves asking the same question:
How to keep your tax information safe this year.
Tax season is busy. And yes, that's exactly why it’s prime time for scammers. But here's the good news: with a few smart moves, you can protect yourself and your sensitive financial information.
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.
How to open a share within online banking
Add to your LMCU membership with ease.
How do you buy a home? Your step-by-step guide to homeownership.
So, you want to buy a home. That’s great news! As you prepare to take that first step, you may be wondering just how many steps there really are before you can open the door to your dream home. Well, wonder no more: LMCU’s mortgage experts are here to break down the homebuying process into easy, actionable steps — so you can feel overjoyed about buying a home, instead of overwhelmed.
The Truth Behind Buying a Home in 2025
Buying a home is one of life’s biggest, most exciting decisions. And because it requires a lot of careful consideration and planning, many would-be homeowners may hesitate to take the first step. But how many of these doubts about the housing market and mortgage process are based in reality — and how many are just myths?
Using a HELOC for Renovations: Our Top 5 Home Improvements
Got a big home remodel planned? Looking to add a new room for a new family member? Or maybe you just want to transform your familiar house into a happening happy place? Whatever your goals are, a home equity line of credit (HELOC) can help you get more done. By borrowing against the equity you’ve already built in your home, a HELOC gives you access to reliable funds at a low interest rate — much lower than a credit card! And with interest-only payment periods of up to 10 years, it’s easy to pay off your HELOC at your own pace.So what could you do with a HELOC? Here are some of the most common home improvements our members use their HELOC funds for. 1. Remodeling your kitchen or bathroom.From new granite countertops and stainless-steel appliances to rain showers and fresh tile, kitchen and bathroom renovations are by far the most popular. Not only can these remodels modernize your home and make it feel more, well, homey, but they also add incredible value to your home, should you ever choose to sell.2. Adding living space.Anticipating an addition to the family? Or maybe you just want to build a personal sanctuary? Whether it’s a finished basement, an attic loft, or a new bedroom, increasing the square footage of your home adds function, personality, and value. 3. Enhancing curb appeal.It’s not all about the interior: landscaping, new siding, fresh paint, or a new front door can turn heads all around the neighborhood — making your home a destination for dinner parties, lawn games, and barbeques.4. Improving energy efficiency. The best renovations pay for themselves. Upgrading to energy-efficient features like new windows, insulation, or solar panels can lower your utility bills and save you a ton of money in the long run.5. Building outdoor living spaces. A new deck, outdoor kitchen, or even a pool can add new dimensions to your home — and help you make the most of those warm weather months! Feeling inspired? Crunch the numbers and find out how much could you borrow with a HELOC using our handy calculator!
Financial Wellness: How to Build Confidence and Control Over Your Money
Presented by Lake Michigan Credit Union’s Wallet Wisdom Podcast With Host Brett Christiansen and Guest Savannah, Girmscheid, LMCU Financial Wellness Manager
How The Latest Fed Rates Impact Your Budget & Borrowing Power
In the latest episode of Wallet Wisdom, host Brett sits down with LMCU’s VP of Accounting, Tommy Minchew, and SVP of Finance, Mike Steele, to demystify one of the most talked-about financial topics with this latest decision to maintain interest rates by the Federal Reserve and how it impacts your wallet*. Whether you’re a saver, borrower, or somewhere in between, this episode is packed with practical advice to help you navigate today’s economic landscape.
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.
Stay Cool & Collected During Homebuying’s Hottest Season
by Kate McDougall At any time of year, buying a new home can be both exciting and stressful. But homebuying over the summer offers unique opportunities — with equally unique considerations for a buyer to keep in mind.
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.
Top-of-the-Line Security is Our Top Priority: How We Protect Your Accounts
You trust us with your money, and we take that trust seriously. While scammers and hackers may try to access your account through illicit means, we have an entire team dedicated to stopping them in their tracks. Here’s an overview of just a few of the things we do to foil fraudsters and keep your savings safe.
'Tis the Season to Stay Safe: Watch Out for These Common Holiday Scams
It’s the season of giving. But for crafty scammers and fraudsters, it’s also the season for taking advantage of the kindness and trust that everyone else is spreading so merrily. Keep your money safe from these would-be Grinches by keeping an eye out for a few of the most popular methods bad actors use to exploit your goodwill.
Your Keys to Account Security: How to Keep Your LMCU Accounts Safe
At LMCU, we work tirelessly to ensure the money you entrust us with stays safe from hackers, scammers, and fraudsters. And while we love helping you at every step of your financial journey, we can’t be there with you everywhere you go. So whether you’re close to home or far from it, there are always additional precautions you can take to keep your accounts and personal information secure. Here are some of our top tips for making sure your money stays, well, yours.
LMCU is rated #1 for keeping more money in your pocket.*
Everything we do at LMCU is guided by you, our members. You’re our number-one priority, and that’s why we’ve been rated number-one by Callahan & Associates in the Return of the Member report.*
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.
Paying for college responsibly
Use the 1-2-3 approach to help your student pay for college When you’re planning for college, the first question is often which school to choose. But equally as important is the question of how you’ll pay for it. That’s why we’ve partnered with Sallie Mae® to bring you their 1‑2‑3 approach to paying for college. These three steps can help you make more informed, responsible financial decisions for a big investment in your future.
What home makeovers are happening in 2022?
What home makeovers are happening in 2022? 2021 saw us getting out of the house more than the previous year, and 2022 hopes to be even more of a return to normal. While 2022 home makeover trends are similar to what we’ve seen in the past couple years, there are a few new focuses we expect to see this year.
Strategies to save for a down payment on your home.
Strategies to save for a down payment on your home. Considering homeownership? One of the biggest expenses to save for when becoming a homeowner is the down payment. Many buyers believe they need to put at least 20% down on a home when, in reality, that’s not always the case.
Don't let inflation deflate your dream renovation.
Inflation is causing high prices across the U.S. economy, and that may have you rethinking that renovation you had planned this spring. Before you put your plans on hold, here are some ways to offset inflation and make that renovation a reality.
Avoid the rent trap.
If you’re renewing your lease or looking for a new place to rent this year, you will likely see a spike in what you pay each month. 2021 was a record year for rent growth, with it rising 17.8% nationally.* That is a huge increase considering annual rent growth between 2017–2019 averaged 2.3%.* With this rise in rent, you need to be more careful than ever not to get stuck in the rent trap.
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.
Shopping small for the holidays
If you’re an avid user of online shopping and store-to-door delivery subscriptions, figuring out where to make changes could be a challenge. Never fear, LMCU is here!
Holiday Bites on a Budget
Does a successful meal have to be an expensive one? Not necessarily. At LMCU, we love budget talks and are happy to share a few ways to create an elevated meal without breaking the bank.
Make sure you’re on the nice list with your holiday spending this year.
Use these tips this holiday season to shop for your loved ones.
See how Jim got the truck of his dreams
Jim is a truck guy. He’s always been a truck guy. When he leased a truck that turned out to be not exactly what he wanted, LMCU helped make the perfect truck happen for Jim and his family. He has been an LMCU member since 2016, and from his mortgage to his savings account and accounts for his kids, Jim expected that if anyone could get him the financing he needed at the best rate, LMCU would be in his corner. Hear more of Jim’s story below.
How a home equity helped Fred & Meg get the space they needed
They bought a great home 10 years and 2 kids ago that needed renovations. When it came time to start on the basement for more space, the project required more than the just the two of them and their time on weekends. Members for over 10 years, they walked into the branch one afternoon and walked out with their perfect solution…a home equity line of credit from LMCU. Four dinner parties, 27 play dates, and 8 visits from the in-laws later, Fred and Meg are loving their new space and already planning their next home project. Hear more of Fred and Meg’s story below.
October is for Halloween, pumpkin spice, and Cybersecurity Awareness Month!
Cybersecurity Awareness Month was created in October 2004 by the National Cyber Security Alliance and the U.S. Department of Homeland Security. Its purpose began as an effort for Americans to stay safer online.
How to choose the right financial partner for your business
As a business owner, you know the importance of choosing the right financial partner to make sure your operations run smoothly, your growth is optimized and you’re adequately covered from risk.
What you should know about financing a fixer-upper.
What you should know about financing a fixer-upper. According to CoreLogic®, home prices nationwide saw a year-over-year increase of 17.2% in June 2021 and a month-over-month increase of 2.3%, when comparing May 2021 to June 2021. As home prices have risen and available home inventory remains low, many existing and potential new homeowners are prioritizing geographic location with a willingness to renovate to achieve their dream home. Some homeowners may be staying put and looking to renovate their existing home, while others are considering new home purchases that may require renovation.If this is you, consider these tips before you begin the process of renovating your current home or purchasing a new home that you plan to renovate:
5 Steps to Furnish Your Dorm Room on a Budget
Dorm rooms are created with efficiency in mind: a place to sleep, a place to study and a place for your clothes. If you’re in the market for figuring out how to change things up, here are a few budget-minding ideas on how to do so!
Teach Your Kids About Savings
Financial conversations are usually stressful and avoided. Your comfortability of the subject can depend on the household you grew up in. Regardless of exposure, it’s important to integrate financial responsibility into the education of the next generation.
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.
Perks of Homeownership
Deciding between renting or becoming a homeowner? There are many things that you may want to consider if now is the time for you to finally…finally…own your own.
10 Money-Saving Activities for Summer Fun
The summer months are the perfect time to try something different without breaking your budget. Warm weather lends itself to lots of outdoor activities that are often free or cheap. Even if you’re not the outdoorsy type, lots of communities offer discounted activities for families to get out of the heat while still having fun.
Now’s your chance to own your own backyard and say goodbye to renting
Now’s your chance to own your own backyard and say goodbye to renting. With interest rates still at historical lows, now might be the time to make owning your first home a reality. With a few simple steps, you could be well on your way to owning your own walls, backyard, home gym, and more. Lower interest rates mean you have more buying power when it comes to finding that just-right home and, if you’re pre-qualified for a mortgage, you can get there even sooner.
Big Financial Decisions
Big financial decisions. Are wedding bells in your future? Here are the top four things you should discuss with your future spouse to get your finances ready to walk down the aisle.
Paint Like a Pro
If you are looking to update your home and save a bit of money, painting might be the project for you. Painting is one of the most attainable DIY projects for a homeowner. Before you begin, it’s important to do a little research to make sure the investment is worth the effort.
What You Need to Know Before Applying for a Mortgage Loan
Spring is here and the housing market is booming! Purchasing a new home is on many people’s minds, maybe even yours. Before you jump feet-first into the home buying process, you may want to first learn about what is involved when applying and qualifying for a mortgage.
Strategies to save for your down payment on your home
Considering homeownership? One of the biggest expenses to save for when becoming a homeowner is saving up for the down payment. One of the many myths about the down payments is that buyers need to put at least 20% down on a home, when, in reality, that’s not always the case. In 2020, the median first-time homebuyer financed their home with less than 7% down.* And at LMCU, we’ve financed many homes for as little as 3% down. On a $250,000 home, 7% down is $17,500. It might seem like a lot, but if you start saving now, you can chip away at it little by little. Once you’ve determined your down payment goal, it’s time to start saving using these strategies:
What home makeovers are happening in 2021?
The last year has impacted everything from the way we work to the way we shop. Home trends saw a big impact as our homes became our office, gym and classroom. The movement has continued into 2021 with the following home makeovers trending.
Why Your Mortgage Loan Officer Matters
You’ll be spending a lot of time with your loan officer during the home financing process, so you want to be sure you work with someone who is responsive, helpful, and committed to getting you to the closing table. At LMCU, we have a 4.9-star rating from Zillow* for – you guessed it – responsiveness, helpfulness, and follow-through
Navigating Unemployment Tax
Tips for filing in 2021. It’s everyone’s favorite time of year. Tax season! For many, 2020 was a unique year that brought some unpredicted changes. If one of those changes was a period of unemployment, you’re not alone! Here are a few tips on how to navigate what you may owe Uncle Sam this year.
Valentine's Day Budget Friendly Craft
Kids of all ages will enjoy creating a happy hedgehog craft with hearts, paint, pom poms, and our printable hedgehog template. Best of all it's budget friendly and you can easily adapt it to use items you already have at home.
Housing Trends To Watch in 2021
2020 has been a rough year, but not for the housing market. This past year ended strong and it’s only getting stronger. In Zillow’s 2021 forecast, this year is projected to have the strongest home sales growth since 1983 with 21.9%* annual growth compared to 2020 — that’s a total of 6.9 million homes sold. So if you’re thinking about buying or selling this year, keep these five trends in mind.
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.
Better Budgeting
LMCU Budget Tool: All Your Finances, All in One Place. When you're juggling checking and savings accounts, loan payments, retirement savings, and more, it can be easy to lose sight of your overall financial health. That's why LMCU offers its members FREE access to the budget tool, an easy-to-use tool where you can view your entire financial portfolio in one place.
Ready for a change of scenery in 2021?
They said to stay home. But they didn't say which home. In 2020, you worked from home. You shopped from home. You staycationed from home. The point is, you might be ready for a change of scenery in 2021. If you’re in the market for a new home, here are four ways to help you save for the down payment.
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.
It’s the most wonderful time of year to buy a house.
It’s the most wonderful time of year to buy a house. (And we don’t mean the gingerbread kind.) With the holiday season in full swing, there are many items on your to do list and it may seem counterintuitive to add a big ticket item to that list. But if you’re thinking you may want to make a move, now may be the time to add finding your dream home to your list. Check out these four reasons why December may be the time to purchase your next house.
Spending Your Savings on Purpose
Three Ways to Make the Most Out of Your Savings. You’ve made a budget. You’ve stuck to your budget. And you’ve finally managed to have money left over at the end of every month. Congratulations! Now comes the tricky part: what to do with that extra cash?
Answers to your home equity questions
You've Got Questions. We've Got Answers. Imagine this: You finally make the exciting leap to start house hunting. You meet up with your realtor, see a few houses in the perfect location… and then you quickly realize there’s an inventory shortage; houses are priced far higher than you imagined and people are getting into bidding wars on houses in your dream neighborhood.
Host Thanksgiving on a $50 budget
Thanksgiving Dinner for $50?! If this seems crazy, you may be surprised to learn a typical Thanksgiving dinner for 10 people in 2019 was just shy of $49.* The beauty of this meal is that while it seems rich and extravagant, the ingredients are simple, hearty, and easily feed a crowd. If the task of hosting falls to you this year, sticking to the menu below will keep your budget on track.
Start saving for the holidays, today!
The holiday countdown has begun. Soon Halloween will arrive and, days after, retail stores will immediately change displays and advertising over to winter holidays. The average consumer spends around $1,000 during the holiday season, according to the National Retail Federation. Perhaps COVID-19 has changed your financial situation this year. Now is a great time for families to think about saving up before the winter holidays.
Making (and sticking to) a budget.
Four Steps to get You Started. Making a budget can be intimidating. Sticking to it can feel impossible. But a budget simply tells your money where to go. So if you’ve ever uttered the phrase, “Where does all our money go?”, here are 4 steps — and a few tips — for making and sticking to a budget.
Four ways to take advantage of historically low mortgage rates
To put it nicely, 2020 hasn’t been the best. But one good thing to come out of this year is the historically low mortgage rates. Here are four ways you can use a home’s equity to work by refinancing.
Exclusive tuition discounts for members and employees
If you’re thinking about going back to school, now is the perfect time thanks to exclusive tuition discounts at LMCU. Member discounts20% off tuition at Davenport University®25% off tuition at Point Park University®
The tax filing deadline has changed- get special savings on TurboTax
Have you filed your taxes yet? In response to COVID-19, the IRS has extended the federal tax filing deadline to July 15, 2020.
Changes to Michigan’s personal injury protection insurance could save you money.
Up until now, Michigan drivers have been required to carry unlimited personal injury protection. But as of July 2, you can choose how much coverage you carry, and that COULD save you money on your insurance.
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.
Six questions to ask yourself before building your forever home.
It probably feels like you’ve waited forever to build your forever home, but before you sign on the dotted property line, ask yourself these questions to make sure you’re really ready.
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.
Get out of the house…one way or another
If you were looking to move before the economy hit pause, or you’re ready for a change of scenery, now is a good time to buy. Realtors are back to work. Interest rates are still low. And the housing market is expected to pick up soon.
Nine stay-at-home improvements
From a kitchen overhaul to an outdoor upgrade, here are a few ways to turn the stay-at-home order into a stay-at-home opportunity.
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.
4% Max Checking - A little extra can go a long way
Right now, we could all use a little extra. With 4% Max Checking, you can earn up to nearly $600* extra every year in interest.
File online and get your maximum refund plus special savings on TurboTax®
With TurboTax, you’ll get your biggest possible refund fast and your taxes done right. Plus, credit union members save up to $20 on TurboTax federal products, all through tax season.
Stay safe. Stay connected.
Our lobbies are open by appointment only, but all drive-thrus remain fully accessible and ready to serve your banking needs. To help slow the spread of COVID-19 (Coronavirus), here are the safest ways you can access your money, manage your accounts, apply for a loan, and even deposit checks without coming inside a branch.
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.
What to expect from app to close
To help make the homebuying process feel less like a process, we’ve broken it down into five essential steps. Get pre-qualified to find out how much you can afford During our initial conversation, you’ll tell us about your homebuying needs, and we’ll explain your options. We’ll review your financial information, including total assets and credit rating, to determine what amount you can qualify for.
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.
Five questions to ask yourself before buying a home
With spring right around the corner and mortgage rates near a record low, now is the perfect time to prepare for your next big move. But before you start picking out paint swatches, ask yourself these five questions to make sure you’re ready:
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.
Choosing the right loan for financing your fixer upper
You’ve made the Pinterest board. You’ve analyzed Chip and Jo’s every move. You’ve browsed paint samples until you’re Jamaica Bay blue in the face. Now, all you need is the money. Here are three financing options to choose from based on your situation:
Enter to win a pair of tickets to a home show!
It’s home and garden show season throughout Michigan and Florida. If you’re looking for ideas to freshen up your home, stop by a home show near you. LMCU’s Home Equity and mortgage options can help you finance your home improvement goals.
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.
You and your investment representative: a relationship of trust
Perhaps your doctor, lawyer, and accountant are trusted advisors. Through years of working with them, they have come to know your family and your particular needs. How about your investment representative? Have you built the same kind of trusting relationship with him or her? Your investment representative could be a resource to tap for financial planning information through the many stages of your life.
Beyond retirement: What about your other goals?
Let’s say that at the age of 25, you earned $35,000. If your salary increased at the average historical rate, you’d have earned nearly $2 million in total by the time you were 65.1,2 That might sound like a lot -- until you begin thinking about all the financial goals you’ll need to juggle in a lifetime, including buying a home and paying for your child’s education, while funding your own retirement.
Have yourself a merry little monthly payment
Home Equity Fixed Rate Loans starting at 4.49% APR.*
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.
When getting to the branch is tough sledding
Between the snow, shopping, traveling, taste testing the Christmas cookies, and more snow, swinging by the branch can be hard. Thankfully, our mobile check deposit feature is easy.
Cash can get tight around the holidays
We get that. Consider LMCU’s Skip-a-Payment program for a little extra financial breathing room.
Make your Black Friday shopping more rewarding
Max Rewards Visa Your money will go farther with 3% (up to $500 per month) in cash back or points on gas purchases, 2% on groceries and 1% on everything else. Qualify for a Signature Max Rewards Visa card and you’ll get 2% back on restaurants and dining purchases, too!
Save on insurance with Lake Michigan Insurance Agency
We’re an independent insurance brokerage, which means we aren’t locked into any single provider, but work with the nation’s best to offer the lowest rates possible. We personally assess your situation to make sure you get the coverage you need. Plus, when you bundle your home, auto, life, health or business policies with us, you can save even more.
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.
You could earn an extra 100 coffee dates on LMCU
Pumpkin spice or not, you’ll earn 3.00% APY* on up to $15,000 every year with no fees, no minimum balance and access to over 55,000 ATMs worldwide through the AllPoint® network. That extra cash can turn your tall latte into a venti.
Mortgage Do’s and Don’ts
According to nerdwallet.com, the biggest mistake buyers make is starting the homebuying process without a lender. With an LMCU loan officer, you can get pre-approved, so you’ll know exactly how much house you can afford. Sellers will know you’re serious. And other buyers can’t sneak in and steal the home of your dreams while you wait for the paperwork to process.
How to use gift money to buy your home
If someone is giving you a monetary gift to help you meet mortgage lending requirements, follow these three steps. Make sure the donor meets all of the requirements (besides being generous). The donor is the person giving you the money. That person must be a family member, domestic partner, or fiancé. The donor also needs to prove that they have the funds available. Documentation might include a copy of their cancelled check, or a signed letter from their bank confirming the funds are in their account. An underwriter may require more than one form of documentation.
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.
National Cybersecurity Awareness Month
Held every October, National Cybersecurity Awareness Month (NCSAM) is a collaborative effort between government and industry to ensure every American has the resources they need to stay safe and secure online, while increasing the resilience of the Nation against cyber threats.
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.
The nuts and bolts of a construction-to-permanent loan
A cozy breakfast nook in the kitchen. A master bath with heated floors built in. A custom walk-in closet. Your one-of-a-kind dream home is full of possibilities. But before you build, here are five things you should know about construction-to-permanent loans.
Keep your head in the game: avoiding mental errors when you invest
In the sports world, a mental error can cost your team the big game. When you are investing, a mental error can put your retirement portfolio at risk. Mistakes often result from letting misconceptions and emotions affect your decisions.
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.
Five tips for purchasing your first home.
WalletHub™ recently compared 300 cities of varying sizes across key indicators, like cost of living and property taxes, to determine the best place to buy your first home. Our own Grand Rapids, Michigan came in at number four, and…drumroll please…Tampa, Florida came in at number one! To help you take advantage of where you live, here are five things every first-time homebuyer should know.
Lower your tax bill with year-end planning
As the end of the year draws near, the last thing anyone wants tothink about is taxes. But if you are looking for ways to minimize your tax bill, there’s no better time for tax planning than before year-end. That’s because there are a number of tax-smart strategies you can implement now that will reduce your tax bill come April 15.
Exclusive tuition discounts
With school fast approaching, you might be thinking about furthering your own education and finally getting that degree you’ve always wanted. Thanks to special discounts at LMCU, now is the perfect time.
Why your loan officer matters
WalletHub™ ranked Tampa, Florida as the nation’s number one market for first-time homebuyers, and Grand Rapids, Michigan came in at number four.*** While we can’t take all of the credit, our friendly experts helped
Good savings habits start young
Our Kids Club and Teens Club will confirm once and for all that money does not grow on trees—it grows by saving and earning interest.
Earn 4.00% APY interest on your checking account balance
LMCU’s 4% Max Checking account is the nation’s number one checking account.** Earn up to $600 per year! (That’s 140 scoops of ice cream!) Plus access to over 55,000 free ATMs. Best of all, it’s free! No minimum account balance and no monthly fees.
First comes love, then comes mortgage
Then comes love again. Because at LMCU, going from honeymoon to “Honey, I’m home!” is easier than you think. Here are four ways we can help you finance the home of your dreams:
Our business is protecting yours
Many LMCU members know that we offer personal insurance— including auto, home and motorcycle insurance—but did you know that we have the same great products for your business?
Financial wellness: establishing an emergency fund
First the car broke down, then the dishwasher stopped working, and now the dog is sick. Sometimes the old proverb, “It never rains but it pours,” seems to ring a
The truth about down payments
Home ownership may be closer than you think. There’s a lot of myths about down payments. So, to set the record straight, here are four facts to consider when looking for a home.
Skip the trip with mobile check deposit
Conveniently located on the main menu of our mobile app, mobile check deposit is just as secure as coming into a branch, and it’s even easier than taking a selfie.
Have a 401(k) plan at a former employer?
Here are some options for getting the most out of multiple retirement accounts. You may have had multiple jobs over your career, and left behind retirement account balances of critical building blocks for your retirement. Here is a short guide to your options of what to do with a retirement account left with a former employer:
5 tips to finance your custom-built home
We all want the perfect home that reflects our tastes, sensibilities, and unique styles. But sometimes, it doesn’t exist. At least not yet. If you’re thinking about building, follow these five tips to make the construction financing process…well, less of a process.
Mobile Authenticator offers increased online banking security
Mobile authenticator is an added level of protection when logging on to online banking from your PC. The mobile authenticator generates a one-time, time-sensitive, six-digit code directly on your smart phone. When prompted, you’ll enter this code into LMCU’s online banking login. To learn more visit LMCU.org/MobileAuthenticator.
Appointment scheduling is now available
Skip the line and schedule an appointment with us in advance. Whether you’re opening a new account, applying for a loan, or servicing an existing account, just go to LMCU.org and click Schedule an Appointment.
Investing for your later years? Think asset preservation but don’t forget growth
After years of investing for retirement and other goals, you may have accumulated a substantial portfolio. If you’re approaching or already enjoying retirement, there are important steps that you can take to help ensure that your investment plan -- and your nest egg -- is on track for your Golden Years.
Spring cleaning is nice, but Spring renovating is “Niiiiiiice!”
You’ve had plenty of time to sit and stare at the interior of your house over the past few months. But you haven’t let the lack of sunshine stop you from daydreaming about a new backsplash, wood floor, or a bathroom vanity. And now that you’re done hibernating, LMCU’s MaxEquitySMcan help turn your winter cave into your spring castle.
Your home’s post-winter checklist
The sun is shining. The birds are singing. And winter is long gone…sort of. Winter weather can cause significant damage to your home that lingers long after the snow has melted. Here’s a helpful list of where to look and what to check for from the Department of Housing and Urban Development.
At Tax Season, We All Hope for a Refund
If you have a refund coming you may consider putting your tax return into LMCU’s 3% Max Checking - the nation’s number one checking account**. You could earn up to $450 over the next year in interest.
Dividend-Paying Stocks: A Potential Source of Income
If you’re looking for an investment-income source, you may want to consider adding dividend-paying stocks to your portfolio. They may be especially appealing to retirees or investors who aren’t comfortable with a lot of risk.
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.
The Perfect Recipe for Your Kitchen Renovation
Tis’ the season for home shows featuring the latest in design trends for your home throughout Michigan and Florida. Couple that with the average homeowner seeing an increase of $12,400*** in 2018 in their home’s value, and it makes for a perfect recipe to get that dream kitchen you’ve been waiting for.
Top 12 Tips to a Healthier Financial Future in 2019
Welcome to 2019! This month’s newsletter is packed with helpful advice on how to improve your finances both now and down the road. Just a few simple changes can be the key to making 2019 your best financial year ever.
Keep Track of How Much Joy You’re Spreading (and Spending)
‘Tis the season for giving…and giving…and giving. And all that giving can be hard to keep track of. Don’t worry, our budget tool located within Online Banking can help. Here are just a few of the features:
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.
It’s the Most Wonderful Time of Year to Buy a House (and we don’t mean the ginger bread kind)
Sure, you’d be fine with new socks and a gift card. But here are five reasons why December is the ideal time to purchase your next home. 1. You hold the cards. Nobody wants to think about moving when there’s pie to eat and stockings to stuff. So, anyone who’s selling probably needs to do it fast. And their need for speed could work to your advantage when negotiating.
Have a Plan for Your Business’ Retirement Plans
From mom-and-pop businesses to Fortune 500 companies, our Max Wealth Management team can help you find a retirement plan appropriate for your needs. We walk you through all of the options, and take care of everything from the paperwork to monitoring and communicating your plan’s performance.
What’s Causing the Rise in Mortgage Rates?
For the past decade, borrowers have enjoyed historically low mortgage rates. So why are rates suddenly on the rise? A strong economy tends to force mortgage rates up because of inflationary fears. Rising inflation causes fixed-income investments, such as bonds, to lose value. And that causes their yields to rise. Mortgage rates usually follow long-term bond yields. When yields go up, home loan rates tend to go up, as well.
Year-End Gifting Strategies
The tax year will be ending on December 31. If you have plans to make charitable gifts to family members, it’s last call to make those donations for 2018. The Basics If you have the financial ability and devotion to make lifetime gifts to family members, consider making them annually. The inflation adjustment for 2018 has increased the amount you can gift without being subject to a per-individual gift tax – $15,000 individual, or $30,000 for married couples. Keep in mind that gifting decisions should reflect any additional wealth transfers or estate planning steps you already have in place.
Can’t Find Your Dream Home?
Build it instead. We all want a home that reflects our tastes, sensibilities and unique styles. But sometimes, it doesn’t exist. At least, not yet. Here’s a quick guide to building your dream home.
Protect Your Identity— It’s The Only One You’ve Got
Identity theft is when someone steals your personal information in order to take over or open new accounts, file fake tax returns, rent or buy properties, or do other criminal things in your name. There’s a new victim of identity theft every two seconds*.
Wealth Management Is More Than Portfolio Supervision
At its most effective, wealth management is a multi-faceted approach—addressing risk and tax issues, estate planning and charitable gifting, and perhaps college and long-term care planning. It’s unlikely to find one single financial professional who’s equally well versed in all these disciplines. Acknowledging that reality, the LPL Financial Advisors of MaxWealth Management located at Lake Michigan Credit Union frequently collaborates in a team effort, to draw on their collective understanding to the benefit of their clients.
Does Your Retirement Math Add Up?
Americans are living longer, healthier, and more active lives than ever. That means saving for a longer retirement is critical.
Your money’s in good hands here
Get help with account security, learn how to avoid common scams, and know what steps to take if something feels off.
More tools of the trade
Equip yourself to bank on the go, manage payments, stay informed, and handle everyday banking with confidence.
Explore our Podcast
Tune in to our Wallet Wisdom podcast where we help breakdown the in's & out's of financial aspects to bring answers to some of banking's more confusing and complex questions.
Wallet Wisdom Podcast | Ep 62: How to Launch Your Small Business: 5 Essential Steps for Success
Learn 5 essential steps for launching a small business successfully. From realistic projections to leveraging resources, ensure your entrepreneurial journey is well-planned.
Fraud Is Evolving: What You Need to Know to Stay Safe | Wallet Wisdom Podcast Episode 59
Learn 5 crucial strategies to protect yourself from financial fraud. Understand the evolving threats and how to stay safe in today’s digital world.
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 The Latest Fed Rates Impact Your Budget & Borrowing Power
In the latest episode of Wallet Wisdom, host Brett sits down with LMCU’s VP of Accounting, Tommy Minchew, and SVP of Finance, Mike Steele, to demystify one of the most talked-about financial topics with this latest decision to maintain interest rates by the Federal Reserve and how it impacts your wallet*. Whether you’re a saver, borrower, or somewhere in between, this episode is packed with practical advice to help you navigate today’s economic landscape.
Calculators
Whether you're buying a home, paying off debt, or growing your savings, our free calculators can help you understand the numbers and plan ahead.
CD Interest Calculator
Estimate your CD earnings with LMCU's free calculator. See how term length and rate affect your savings growth over time.
Auto Loan Calculator
Calculate your monthly auto loan payment with LMCU. Compare terms and rates to find a plan that fits your budget.
Mortgage Calculator
Estimate your monthly mortgage payment with LMCU. Factor in rate, term, and down payment to plan ahead.
Homeownership is possible.
We help thousands of people buy homes, every year. Want to be one of them? Explore all our pathways to homeownership, plus tools and support to help you take the first step.
