Lake Michigan
Lake Michigan is a credit union based in Grand Rapids, Michigan, established in 1933, with $16.9 billion in total assets serving 530,662 members. By Trust Grade it ranks 169th of 170 credit unions we track in Michigan. Its net worth ratio of 11.3% is stronger than 65% of similarly sized credit unions, versus a Michigan median of 11.7%. It was profitable over the most recent period, with a 1.28% return on assets. Consumers filed 154 complaints about LAKE MICHIGAN CREDIT UNION with the CFPB — 9.1 per $1B in assets, a lower rate than 89% of peers.
How Lake Michigan compares to Michigan peers
How we graded Lake Michigan
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (11.3% capital ratio)
- Strongly profitable (ROA 1.28%)
- 9.1 complaints per $1B in assets
Consumer complaints (CFPB)
154 complaints filed with the CFPB against LAKE MICHIGAN CREDIT UNION — 9.1 per $1B in assets.
Are deposits at Lake Michigan insured?
Yes. Lake Michigan is an NCUA-insured credit union. Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
Lake Michigan: frequently asked questions
Is Lake Michigan a good credit union?
Lake Michigan earns a Bankzia Trust Grade of C (75/100, "Average"), based on a financial-strength score of 95/100 and a customer-experience score of 55.999740259740264/100. Strongly capitalized (11.3% capital ratio); Strongly profitable (ROA 1.28%).
Is Lake Michigan NCUA-insured?
Yes. Lake Michigan is a NCUA-insured credit union. Deposits are protected up to the standard NCUA limit of $250,000 per depositor, per ownership category.
How big is Lake Michigan?
Lake Michigan holds $16.9 billion in total assets, ranking 169th of 170 credit unions we track in Michigan. It serves 530,662 members.
How many complaints does Lake Michigan have?
Consumers filed 154 complaints about LAKE MICHIGAN CREDIT UNION with the CFPB, or 9.1 per $1B in assets. 100% were answered on time. 1% closed with relief to the consumer.
Similar Credit Unions
Financial data from NCUA call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
