Lake Michigan Credit Union
CEO) | |
AUM | US$4.35 billion (2018) |
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Website | www |
Footnotes / references [1] |
Lake Michigan Credit Union (LMCU), founded in 1933, is a
History
Lake Michigan Credit Union was founded in 1933 in Grand Rapids, Michigan, by Lloyd F. Hutt as Grand Rapids Teachers Credit Union.[6] On March 1, 2002, the institution changed its name to Lake Michigan Credit Union.[7]
In mid-May 2010, the Kalamazoo-based Citizens Credit Union announced that it planned to merge with Lake Michigan Credit Union.[1][8] This merger took place in June 2010 and resulted in the addition of Citizen Credit Union's 9,000 members and $60 million assets to Lake Michigan Credit Union's estimated 168,000 members and $1.87 billion assets.[9][10]
In October 2015, Lake Michigan Credit Union and United Federal Credit Union announced their intent to merge.[11] However in January 2016, the two institutions canceled the plan stating they could best serve their members independently.[12]
References
- ^ a b Bakken, Rebecca (July 21, 2010). "Banking Pays Dividends for These Career-Minded Women". Kalamazoo Gazette. Retrieved February 16, 2012.
- ^ Jones, Al (April 25, 2011). "What Are the Best Places to Work in Kalamazoo and Southwest Michigan?". Kalamazoo Gazette. Retrieved February 16, 2012.
- ^ "Lake Michigan Credit Union". Credit Unions Online. Retrieved February 16, 2012.
- ^ Martinez, Shandra (February 1, 2011). "Lake Michigan Credit Union Purchases Van Tol, Magennis and Lang Insurance Agency". The Grand Rapids Press. Retrieved February 16, 2012.
- ^ "Credit Union Online". National Credit Union Administration. Archived from the original on January 14, 2010. Retrieved February 16, 2012.
- ^ Wood, Deborah Johnson (April 24, 2008). "$1.3M Credit Union Adds More Contemporary Architecture to Health Hill". Rapid Growth. Retrieved March 9, 2012.
- ^ "History and Achievements". Lake Michigan Credit Union. Retrieved February 16, 2012.
- ^ Jones, Al (December 28, 2010). "Some of the Ups and Downs in Kalamazoo-Area Business During the Year 2010". Kalamazoo Gazette. Retrieved February 16, 2012.
- ^ Jones, Al (May 20, 2010). "Kalamazoo-Based Citizens Credit Union Will Merge with Lake Michigan Credit Union". Kalamazoo Gazette. Retrieved February 16, 2012.
- ^ Sanchez, Mark (May 13, 2010). "Merger Would Add to Credit Union's Kalamazoo Presence". Business Review West Michigan. Retrieved February 17, 2012.
- ^ Tompor, Susan (October 15, 2015). "2 major Michigan credit unions to merge". Detroit Free Press. Retrieved January 29, 2019.
- ^ Jim, Harger (January 8, 2016). "'Largest Merger in History' Canceled by 2 Michigan Credit Unions". The Grand Rapids Press. Retrieved January 9, 2016.