January 26, 2016

You can still make IRA contributions for 2015

Just because the 2015 tax year ended on December 31 doesn’t mean you’ve missed the boat on late IRA contributions. You can still add to your IRAs until the tax day deadline, April 15, for the 2015 tax year, there are limits though, and the IRS determines how much you can contribute in any given tax year toward traditional, Roth, and Simplified Employee Pension (SEP) IRAs.

IRAs are outstanding vehicles for retirement planning. Regular contributions serve to build up your retirement fund, but they may also offset your taxable income. That reduces taxes due for the year in which they were made (check with your tax advisor for details).

Another advantage: maximizing your IRA contributions can also result in a more favorable asset determination when applying for a child’s college funding. That’s a big bonus for parents of college bound kids.

Want to learn more? Contact Lake Michigan Investment Services for a free analysis. Call (616 or 800) 242-9790 ext. 6301 or go online at lmcu.org/investments.

LMCU merger with United Federal Credit Union called off

After careful consideration, both LMCU and UFCU have come to the mutual conclusion that they are better served by remaining independent, in order to better serve their members.

LMCU President and CEO, Sandra Jelinski, said, “We greatly appreciate the opportunity to get to know the team at UFCU and believe our healthy partnership discussions led us to realize we each have unique attributes, members and communities that should remain distinct. We are both based in the great state of Michigan, and we look forward to continuing to share best practices between our two strong financial organizations.”

LMCU announces 2015 Dealer of the Year Award winners

We help them. They help us. It’s an important relationship for us both. LMCU is proud to announce its annual Dealer of the Year award winners. Awards are based on loan volume, quality of transactions, accuracy of paperwork and commitment to positive representation of LMCU to the car-buying public. These exceptional dealerships consistently demonstrate and reflect our corporate philosophy of always doing what’s best for our members. Congratulations to all!

Large Dealer Division: Fox Ford
Runner Up: Borgman Ford

Mid-Sized Dealer Division: Sparta Chevrolet
Runner Up: Pfeiffer Lincoln

Small Dealer Division: Marv’s Car Lot
Runner Up: Ageless Auto

Rookie Division: GR Motor Car
Runner Up: Albion Ford

Honorable Mention: Priced Right Auto